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State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 478983.91 Crore).

The Nifty Realty index was trading 0.94 per cent up at 401.5.

On the technical charts, the 200-day moving average of the stock stood at Rs 291.67.

“Adani Enterprises, along with Adani Green and Adani Power, have to settle down and form a base which they are yet to do. They are still constantly perturbed by newsflow and high action even on the derivative front,” Ghose said.

Most analysts say the public offer is decently valued and have recommended investors to subscribe to the issue. They say Divgi Torq is one of the few players in the country that has the ability to develop and supply system level transfer cases and is the only company to make torque couplers.

A company issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors.

In the United States, manufacturing activity contracted for a fourth straight month in February, but a gauge of prices for raw materials increased last month, stoking concerns that inflation would remain stubborn.

Yields have been on a rise in the past month as strong economic data supported expectations that the U.S. Federal Reserve will tighten financial conditions more aggressively to fight inflation.

Meanwhile, crude oil processed by Indian refiners reached record levels in January, provisional government data on Wednesday showed, as the country boosted imports of Russian barrels that Western countries shunned.

Data on Wednesday showed U.S. manufacturing contracted for a fourth straight month in February, but there were signs that factory activity was starting to stabilise, with a measure of new orders pulling back from a more than 2-1/2-year low.