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Meanwhile, the upcoming announcement of the IPO of LIC may also suck some liquidity out of the market and put some near-term pressure on the secondary markets.

According to a sustainability think tank called Thinkthrough Consulting, the Bitcoin network consumed 131.80 TWh (terawatt-hours) of power in 2020 in order to execute the algorithms that power its mining operations. For context, that is the equivalent to the power consumed by the entire country of Argentina.

Normally, a formation of Doji after a reasonable decline or upmove signal impending reversal after the confirmation, said Nagaraj Shetti, technical research analyst of HDFC Securities.

“Traditionally motor has been the biggest segment but this year, for the first time, health constitutes about 33% of the market and motor roughly about 30-31% of the market. We are reasonably back to normal frequency in terms of claims and we are seeing some amount of inflation. So, we have taken some single digit price increases in the motor segment for the private cars. We are optimistic about the motor segment looking ahead.”

BofA felt that despite markets correcting since the October 2021 peak, the prevailing 1-year forward Nifty valuations at 19.2 times look elevated given global geopolitical, monetary tightening and elevated inflation backdrop.

"Gold prices at COMEX were firm on Friday on global growth worries over higher inflation," said Tapan Patel, Senior Analyst (Commodities), HDFC Securities.

A total of 298,240 shares changed hands on the counter till 01:54PM (IST).

At the interbank forex market, the rupee opened sharply lower at 76.31 against the greenback and lost further ground during the session. The domestic unit witnessed an intra-day high of 76.19 and a low of 76.50.

“India will continue to outperform as we did in 2021 simply because it has been a very long time of underperformance. Last year, India was number six in the reasonable size markets but for five years before that, it was number 19, 20, 24 in that range. So, that outperformance will continue and which is why in our global funds we are slightly overweight India.”

The platform will facilitate listing and trading a variety of sustainability products including green bonds, voluntary carbon, sustainable bonds, green real estate investment trusts (REITs), green equity, among others and channelize the flow of sustainable finance to India and other markets.