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“We have exposure to regional banks in the South. There are banks which are going through some transformation, better management and that is showing in numbers. They do not have to do anything incredibly different rather than just stay focused on what they have done so far and continue that journey.”

The breakout has opened room for the stock to head towards 350 levels which could take the stock to a fresh 52-week high in the next 4-6 weeks, suggest experts.

The Nifty IT index dropped 1.35% on Wednesday, while the benchmark Nifty ended flat. TCS shed 2% and Infosys fell almost 1.8%.

​​Analysts say that insurance companies have managed to increase premiums on most of their existing policies by 20-30%. Given this increase, the profitability of insurance companies is likely to improve in the coming quarters, making current valuations attractive.

A central clearer acts as the buyer to every seller, and seller to every buyer, guaranteeing trades in case either party defaults.

The net long position of FIIs reduced from Rs 50,228 crore on Tuesday to Rs 38,695 crore on Wednesday.

Private equity firm Bain Capital has offloaded 1.1% stake in Axis Bank through the open market on Wednesday, thereby taking home over Rs 3,700 crore.

Sebi had alleged that Reliance Strategic Investments, along with Morgan Stanley France (MSF), had knowingly traded in the puts of strike price 11,400 PE at a discount of 15%, 35% and 37% to the intrinsic value of the put options on July 31, August 8, and August 10, 2017, respectively.