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On the hourly charts, RSI indicator saw a bearish crossover within the oversold zone, hinting at a waning bullishness in the market, analysts said.

"The Bank Nifty index encountered resistance around the 48,000 level, resulting in an inability to sustain at those higher levels, leading to some selling pressure. The immediate support for the index is positioned at 47,800,” Kunal Shah, Senior Technical & Derivative analyst at LKP Securities, said.

With its innovative approach, community-focused ethos, and global recognition, RETIK is well on its way to not only providing lucrative opportunities for investors but also leaving a lasting impact on the world of decentralised finance.

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In October, the board approved splitting shares of face value Rs 10 into 10 shares of Rs 1 face value each. The company received shareholders’ approval for the same earlier this month. This is the first time Nestle India is undergoing a share split since it got listed on the stock exchanges.

Sectorally, buying was seen in telecom, capital goods, consumer durables, and healthcare while realty, banks, utilities, and FMCG stocks saw some selling pressure.

After underperforming for quite some time, the Nifty IT index received a strong boost from the US Fed’s pivotal stance last week, which helped the index end with weekly gains of 8%.

At the interbank foreign exchange, the rupee opened 6 paise higher at 82.97 against the dollar. In early trade, the rupee was oscillating between 82.95 and 83.02.

The maiden public issue comprises a fresh issue of equity shares worth up to Rs 320 crore and an offer-for-sale (OFS) of up to 55.80 lakh equity shares by promoters and selling shareholders.

The stock has rallied nearly 40% from its 52-week low of Rs 922.45, the stock hit in May, this year. Its one-year returns stand at 27% which is higher than 16% returns given by broader Nifty during this period while lower than the Nifty Pharma index which has given over 29% returns.