Markets nearing a new lifetime high are calling for some caution. At least, that is how domestic money managers feel, if rising cash levels is any indication.
The average cash holdings with the top 20 fund houses rose to 5.6 per cent at the end of April, from 5 per cent at the end of March, reveals a Motilal Oswal Financial Services report.
The increase in dry powder comes on the back of selling of Rs 5,100 crore in April amid broad-based rally in the markets.
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