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"The market falls on two of three occasions in the 30 days post the budget. The probability of such a fall rises to 80% if the market has risen in the 30 days preceding the budget. Only twice in 30 years has the market been up both pre and post the budget," the brokerage said.

Jefferies maintained its buy rating on IndusInd Bank post the December quarter results with a target price of Rs 1600.

The stock traded at a P/E multiple of 12.38, while the price-to-book value ratio stood at 1.59.

The FPO will open for subscription on January 27 and close on January 31. The company will issue fresh shares on a partly-paid basis under a 100% book-built offer.

Earlier in the week, gold hit a record high of Rs 56,317 before retreating downwards. The fall from record highs was mainly due to profit-taking by short-term futures traders, while a rebound in the dollar index and falling crude oil prices have also capped gains.

The 200-day daily moving average (DMA) is used as a key indicator by traders for determining the overall trend in a particular stock. For more such web stories click on the ET icon below

Tata Metaliks, incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 2734.77 Crore) operating in Metals - Ferrous sector.

The Nifty Bank index was trading 0.31 per cent down at 42327.3.

A total of 13,677 shares changed hands on the counter till 11:12AM (IST).

On the technical charts, the RSI of the stock stood at 26.49.