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VCSC Daily - Markets down as sellers return

Our view: It was hard for stocks to extend gains on Friday. We had pointed out the lack of conviction in Thursday’s session indicated by the fact that even though there appeared to be excess demand on both exchanges, investors were not bidding up prices. And the weakness showed. In Friday’s session, besides previously known trade data that showed a trade surplus in July there was little else to support the market prompting the return of sellers.