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The US Federal Reserve hiked rates by an unprecedented 450 basis points since March 2022. Despite this, inflation is far from its target range and head Jerome Powell is committed to taking larger quantum of rate hikes if data suggests that additional measures are required to tame inflation.

A total of 2,356 shares changed hands on the counter till 11:54AM (IST).

Volatility in the market is expected to remain in the near term as Dalal Street will eagerly await the US Federal Reserve’s monetary policy decision in the aftermath of the collapse of 3 major banks in the country.

Tailwind from the entire sector and good buying interest was seen as we concluded from the price action recorded in the week gone by.

Varun Lohchab of HDFC securities says that they are not overly worried about TCS replacing its CEO. . They believe that the new CEO is equally capable and has a lot of experience with the company. They also believe that the company has a strong leadership pipeline, which means that there are many leaders who are being groomed.

The Nifty Bank index was trading 0.99 per cent down at 39206.6.

Gabriel India, incorporated in the year 1961, is a Small Cap company (having a market cap of Rs 2065.60 Crore) operating in Auto Ancillaries sector.

The movement in crude oil prices also has a bearing on the upstream companies line Reliance Industries Limited, Oil & Natural Gas Corporation Limited. Gupta said that a rising price trend is beneficial for these companies and they gain from unsold inventory as margins go up.

A total of 416,501 shares changed hands on the counter till time (IST).

Momentum indicators RSI and MFI are in a medium range at 41.6 and 34, Trendlyne data further revealed. A number below 30 indicates that the stock is trading in the oversold zone while above 70 suggests it is in the overbought territory.