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Dear Policyholder,

Nifty 50 fell by 1.2% in the month of September 2020 which was mainly on account of adverse news flows on COVID-19 vaccine trials, China-India geopolitical tensions and increase in COVID-19 cases in Europe triggering lockdown fears. COVID-19 cases continue to rise in India as daily testing continues to increase. The good news is that recovery rate in India is also one of the highest in the world and rate of growth in the number of active cases has reduced considerably. On the economic front, up-tick in activities was witnessed as suggested by e-way bills data, railway freight data and digital banking transactions as unlocking of economy continued. Foreign Institutions sold Rs 43,438 million (approx.) worth of equities in the September month while Domestic Institutions sold Rs 3,256 million (approx.) worth of equities

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