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The issue, which received approval from the regulator in November last year, has fixed a price band of Rs 393-414 per share, where investors can bid for 36 shares in one lot and multiples thereafter.

Although not directly, lower govt borrowings could lead to easier liquidity, which would be incrementally positive for banks and NBFCs’ NIMs. OMCs are likely to benefit from higher capital support. There is also a notable increase in the PLI scheme for the pharma sector, which could benefit select companies," according to the brokerage.

The bank proposes to utilize the proceeds from the fresh Issue towards augmenting the tier 1 capital to support advances growth.

Long-unwinding refers to selling of positions or stocks owned for a longer period either to book profit or to exit it in anticipation of impending bearishness.

On the technical charts, the RSI of the stock stood at 34.54.

Investors should buy good quality stocks in shining sectors, especially Infra, Railways, Capital Goods, Renewables, Recycling and Solar Power.

Italian Edibles IPO: The company is offering its shares at Rs 68 apiece, and investors can bid for 2,000 shares in one lot. About 50% of the offer is reserved for retail investors and the remaining 50% for non-institutional investors.

Benchmark indices have performed well in election years going by four decades of history and despite spikes in volatility, the median returns in election years have been 17%. As per ICICI Direct, the outperformance of PSU banks will only amplify and investors should also raise their exposure to IT stocks ignoring the noise.

Short-covering signals a shift in view on security from extreme bearishness to bullishness.

Amarjyoti Barua, a strong finance leader with international experience, joins Mahindra Group as CFO. He will continue the capital allocation strategies implemented by outgoing CFO Manoj Bhat and drive exponential growth. Bhat has been made CEO of Mahindra Holidays which Mahindra Group aims to make a key player in the tourism industry and grow its resorts at least 3X. The budget presented by the government focuses on long-term economic growth. The private sector is expected to step up its capex as the government reduces its commitment.