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Those who invested after the March crash are sitting on bumper profits. Taking some money off the table is always a good idea. However, whether an investor should sell, hold or buy would depend on many factors, most importantly, on the financial goals of the investor.

“The return of FIIs after a five-month hiatus and the support garnered at every dip also point to the continuation of this optimism in Indian equities. As a result, every dip still offers a good opportunity to invest,” said brokerage firm Samco Securities.

Existing investors such as Airbnb and Greenoaks Capital are unlikely to divest their stakes besides founder Ritesh Agarwal, they added.

The Dow Jones Industrial Average fell 2.51 points, or 0.01 per cent, at the open to 34,762.31.

There is a consumer who only comes offline, there is a consumer who goes only online and majority of the consumer toggle between the two.

The Nifty Metal index closed nearly 2 per cent lower, the worst sectoral performer on the National Stock Exchange, after several prominent broking firms and global rating agencies slashed their growth outlook for China because of a churn in the country’s property market.

Analysts largely expect IT stocks to sustain the current high PE multiples going ahead. They like stocks such as Infosys, HCL Tech and Tech Mahindra among the Tier I names.

Ten Chinese government agencies, including the central bank as well as banking, securities and foreign exchange regulators, said in a joint statement that they would work closely to maintain a "high-pressure" crackdown on speculative trading of cryptocurrencies.

In the international market, gold was trading higher at $1,754 per ounce and silver was flat at $22.68 per ounce.

Analysts said Nifty50 could see a pause in momentum in the coming days, following the recent spurt. They said the 18,300 level would act as a key resistance at highs and suggested booking partial profits in the 18,100-18,200 range.