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However, rough market conditions have resulted in a negative return of about 42 per cent or a value erosion of USD 3.43 billion in absolute terms till October 10, according to a report of Nexgen Capitals, the merchant-banking arm of brokerage firm SMC Global Securities.
"In a bear market fund raising activity becomes very difficult. Excess of bull market last year has resulted in the bear market this year. In a bull market takers for every issue at every level can be found but today's market is a buyers market," NEXGEN Capitals Equity Head Jagannadham Thunuguntla said.