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On February 1, Sitharaman in her last Budget of the Modi 2.0 government announced that the gross and net market borrowings through dated securities during 2024-25 are estimated at Rs 14.13 and 11.75 lakh crore, respectively, which are lower from FY 2023-24. The move is aimed at facilitating a larger availability of credit for the private sector, the FM had said.

SBI, ICICI Bank and PNB led the gains while selling was seen in Bank of Baroda, Bandhan Bank, IndusInd Bank and Kotak Bank. The Nifty Bank failed to hold on to 45,700 levels, but a bounce back from the lows suggests that bulls are trying to take control.

On the technical charts, the RSI of the stock stood at 45.76.

The Indian rupee ended unchanged on Tuesday as mixed cues from the strength in most of its Asian peers, despite a jump in U.S. bond yields, kept the pair in a narrow range throughout the session.

Battery maker Eveready Industries India reported a 55% jump in third-quarter profit on Tuesday, helped by diminishing input costs. Lithium prices, a key raw material for battery makers, were down in the quarter, helping offset beleaguered rural demand for batteries and flashlights.

The Nifty Bank index closed 0.29 per cent down at 45690.8.

Market experts maintain a strong bullish outlook on the IPO (initial public offering) market for 2024. Companies are expecting to benefit from an equity market which is flush with liquidity and has seen a sharp increase in new retail investors.

​Healthcare products distributor Entero Healthcare Solutions on Tuesday said it has fixed a price band of Rs 1,195-1,258 a share for its Rs 1,600 crore Initial Public Offering (IPO).

Revenue from operations may rise 9% to Rs 3,779 crore and operating profit is likely to grow by a sharp 59.3% to Rs 723.20 crore. Sequentially, the net profit is seen declining 2.6% and revenue rising 1.2%, while operating profit may surge 35%.