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Typically, a weaker rupee does not bode well for domestic equity or debt markets as foreign portfolio investors’ returns from Indian assets reduce, prompting them to exit such investments.

“I do not see LIC as a huge outperformer anytime in the future. So people who want stable, maybe good dividend paying companies may want to have LIC in the portfolio. But for people who are looking for growth, LIC may not be the most optimum choice for them in my opinion.”

In the spot market, highest purity gold was sold at Rs 50,593 per 10 grams while silver was priced at Rs 61,302 per kg on Tuesday, according to the Indian Bullion and Jewellers Association.

Chavan said the 16,100-16,000 range has now become sacrosanct support for Nifty50 and till the time it does not slide below it, traders can use declines to buy into.

Promoters held 51.26 per cent stake in the company as of 31-Mar-2022, while FIIs owned 14.34 per cent, DIIs 10.84 per cent.

India’s second-largest telco posted consolidated net profit at Rs 2,007.8 crore in the March quarter, also up 141% sequentially. Analysts had estimated net profit of around Rs 1,970 crore. This was Airtel’s sixth successive quarter in the black after six straight losses earlier.

Bajaj Electricals reported mere 6% YoY revenue growth, impacted by rural slowdown and reducing traction on alternate channels (e-commerce and modern trade).

​​Vodafone Idea narrowed its March quarter net loss to Rs 6,544.9 crore from Rs 7,234.1 crore in the previous three-month period, supported by the November tariff hikes, but also lost 3.4 million users. Net finance costs at a consolidated level fell 10.6% sequentially but rose 1% on year.

"It would be prudent to avoid the rate-sensitive sectors in a rising interest rate environment. However, given the current valuations of specific sectors, we would like to look at stocks individually, considering all factors such as demand environment, earnings capability, and valuations before taking a call on the stock," says Tata AIA Life Insurance CIO.

Investors who missed the opportunity before can look at entering the stock or accumulating the stock on dips between Rs 800-840 for a target of Rs 960-1020 in 1-2 months, suggest experts.