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The IT sector is experiencing slower growth rates, which could lead to a correction in the current 20-multiple valuation of these businesses. However, the sector still has a long-term growth opportunity, especially in the domestic branded space. In pharma, the domestic branded space still has a meaningful decades-long growth opportunity and that is where our focus should be .

The key technical indicators are in favour of the bulls in the short-term as well as on the medium-term timeframe charts. As per the current setup, we believe the stock may keep exploring uncharted territory.

Index long-term strategy is to generate equity returns with safety. This strategy is the combination of 3 smart steps: investing money in Index as the index provides us the confidence that it will never become zero and will rise sooner or later as it is the average of the Top 50 stocks of the country, believing in "Equity + Safety = Prosperity", and trying to reduce the cost by doing Interest arbitrage.

From the Sensex pack, Infosys, TCS and IndusInd Bank were top losers, falling over 1.5%. Tata Steel, SBI, HDFC Bank, M&M and Maruti also opened with losses. On the flip side, only Titan and HUL opened with gains.

"The market is now awaiting the outcome of the Fed meeting to see how they will respond to the ongoing crisis, particularly in terms of rate hikes. Investors expect the central bank to raise interest rates by 0–25 basis points," said Vinod Nair, Head of Research at Geojit Financial Services.

Adani Group said that its engagement with financial institutions over a petrochemical project at Mundra in Gujarat was still ongoing. The group said it is trying to secure financial closure for its project and the operations at the site will start after the closure.

Gold has advanced over 8% since the news of trouble at US-based Silicon Valley Bank and extended gains on Monday even after news of Switzerland-based UBS acquiring stressed rival Credit Suisse Group AG, which was expected to soothe investor concerns.

After an announcement of the agreement, major central banks, including the U.S. Federal Reserve and European Central Bank, indicated that they would enhance market liquidity and support other banks.

Crude oil has been on a declining trajectory since last June when it reached $124 per barrel. For the last four months, prices have stayed below $90. But a rising concern about the health of the global economy in the wake of the collapse of a few banks in the US and Europe in recent weeks has triggered a sharp fall in oil prices.

Investment grade credit spreads, which indicate the premium investors demand to hold highly rated corporate bonds over safer U.S. Treasuries - rose to 164 basis points last week, the highest since October, according to the ICE BofA US Corporate Index