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It is this abundant liquidity, much of which has found its way into the stock market amid dwindling returns from fixed-income instruments, which has equipped the stock market to tackle the largest overseas outflows since the Global Financial Crisis of 2008.

“We would like to enter new cities now. We are already amongst the top players in the top four cities and we intend to enter new cities in India. Sonipat is the first city in line of that strategy. For our new cities, the strategy is we would like to do plotted developments or low rise developments.”

Indices snapped their three-day losing streak after a choppy start to the day, following a largely negative trend across other Asian markets.

A total of 92,315 shares changed hands on the counter till 02:10PM (IST).

“There is the danger of languishing behind if we do not come together and come at par with China and the US which do not have that many movies but their box office collections are much higher, number of screens are much higher, 40,000 in the US, 70,000 in China. We are still at about 9,500 screens. The rationale is to bring our strengths together to give a boost to this industry.”

The total marketcap of Bitcoin was hovering around the $900 billion mark, with its total dominance in the crypto marketcap standing at a little more than 42 per cent, the data from coinmarketcap suggested.

The board also approved the record date for determining the shareholders entitled to the interim dividend as Friday, April 8, 2022.

The stock market, which initially went haywire due to the fear of the unknown, recouped as soon as things became “known unknown”, with investor wealth, as suggested by BSE market capitalisation, jumping 2.5 times during the period.

“We are comfortable with IT and banks for absolute return. We get a little bit of cushion from the consumer staples plays just to be defensive in the face of any cracks that might come through and we think there might be a little bit of life as far as the auto space is concerned because even though they face demand risks, a lot of that has been flagged and to some extent there is a little bit of support in terms of valuations.”

The Nikkei share average ended 0.73% lower at 27,943.20, following an almost 12% surge over nine days that included the benchmark touching a five-week high of 28,338.81. The broader Topix slid 0.41% to 1,973.37