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Participants should prefer option strategies like put spread to play the impending correction in the index. However, the movement on the sectoral front is mixed and the ongoing earnings season is further adding to the choppiness. Among the sectoral indices, auto and FMCG look promising while IT and banking are likely to underperform.

Paytm Money, the latest entrant into the broking business, has placed QR codes at Kirana stores across the country to introduce the common man to the power of investing with free demat accounts for a lifetime. Through the QR codes, individuals can open their free demat accounts instantly and place their bids for the LIC IPO.

HDFC, Adani Wilmar, Britannia, Tata Consumer, IDBI Bank, CG Power, M&M Financial, Devyani International, Alembic Pharma, Castrol India, JSPL and Saregama India are among the companies that will announce their March quarter results today.

Gold prices rallied 1% on Friday after the U.S. dollar retreated, but the metal ended April slightly lower on bets of aggressive policy tightening by the U.S. central bank.

Brent crude futures fell $1.21, or 1.1%, to $105.93 a barrel at 0205 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 99 cents, or 1%, to $103.70 a barrel. Markets in Japan, India and across Southeast Asia were closed for public holidays on Monday.

NEW DELHI: It was a disappointing week for bulls on D-Street since every attempt made by the market to recover went in vain. Until the first half of Friday’s session, the benchmark index was doing well and almost reclaimed the 17,400 mark. However, a sharp selloff during the fag end of the session forced the index to nosedive almost 300 points from the day’s high to close near 17,100 mark.“For the coming week, we maintain our stance that till the time the support of 16,825 is held, we can expect some relief pullback in the market. On the other hand, the market would be out of the woods only above 17,400 mark since we are witnessing a death crossover of moving averages on the daily time frame of Nifty,” said Mehul Kothari, AVP - Technical Research, Anand Rathi Shares & Stock Brokers.

Singapore’s GIC Pte and Norway’s sovereign wealth fund are among the anchor investors, the people said, asking not to be identified before an official announcement. LIC didn’t immediately respond to email seeking comment.

"With digitisation and automation, IT is very well positioned but look at the kind of selling that we have seen in IT."

We also feel such a macro environment is conducive to value stocks as compared to growth stocks.

When investors buy foreign stocks for portfolio diversification, they are also effectively buying the currencies in which the stocks are quoted.