Direction: In the following question, two columns are given containing three phrases each. The phrases are labelled A, B and C in the first column and P, Q and R in the second column. A phrase from the first column may or may not connect with a phrase in the second column to make it grammatically and contextually meaningful sentence. Identify the correct option given below that gives the correct sequence in which one or more sentences can be formed. If one of the options makes it possible for a meaningful sentence to be formed, indicate 'None of these' as your answer.

Column 1 Column 2

(A) Abhay Agarwal, small case manager, founder, and MD, Piper Serica Advisors, said that (P) the markets have struggled to form a bottom in the first half faced by multiple headwinds.

(B)As many as 16 companies made their debut on the bourses with half of them trading below their issue prices, (Q)with an average return of 11.25 per cent on a year-to-date (YTD) basis till June 28.

(C)The 16 listings in the current calendar so far have raised close Rs 40,950 crore through their initial stake sales, (R)whereas the second half delivering positive response with two multibaggers.

Question

Column 1	Column 2
(A) Abhay Agarwal, small case manager, founder, and MD, Piper Serica Advisors, said that	(P) the markets have struggled to form a bottom in the first half faced by multiple headwinds.
(B)As many as 16 companies made their debut on the bourses with half of them trading below their issue prices,	(Q)with an average return of 11.25 per cent on a year-to-date (YTD) basis till June 28.
(C)The 16 listings in the current calendar so far have raised close Rs 40,950 crore through their initial stake sales,	(R)whereas the second half delivering positive response with two multibaggers.