Niftily opens below 9,900, Sensex falls 100 pts

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Alexander Redman of Credit Suisse said the research house recommended that investors refrain from buying into the recent rally in Indian equities and remain 15 percent underweight.

"While we remain constructive on the long-term investment case for India given its sustainable economic growth model underpinned by structural drivers such as urbanization, superior demographics, improving financial inclusion and productivity catch-up, we wait for a better entry point to participate in this structural growth story.

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