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Spokespersons for the government and the Reserve Bank of India were not immediately able to comment, while representatives of SBI and UCO didn’t immediately respond.

Nifty is still trading below its 20-day SMA and is maintaining a lower top formation on daily charts.

“We are seeing of late that there is an anti ESG trade playing out. Coal companies, energy companies and even defence companies are doing quite well in an environment where the markets are quite volatile. Given how the trade is shifting, it is very difficult at these depressed valuations to be bearish on a name like ITC or even a sector like that.”

Among the suggestions put forward by market participants was for the government and the RBI to avoid front-loading the borrowing programme to the extent that is normally done.

The tribunal noted that Dish TV has already disclosed the voting results of the AGM to both the stock exchanges -- BSE and NSE. Consequently, the challenge of this direction by the company in this appeal has become "infructuous".

LIC had, on February 13, filed the draft red herring prospectus (DRHP) for LIC IPO. Earlier this week, Sebi gave approval to the draft papers, paving the way for the share sale.

​After gyrating nearly 800 points, the 30-share pack Sensex rose 86 points or 0.15% to close with marginal gains at 55,550.30.

“We are in some kind of a bear market right now, interrupted by possibly very sharp counter trend rallies and if there is a political solution for the Ukraine crisis, we will probably see a 10-20% rally easily but that does not mean it is sustainable. One can have these rallies from an oversold situation. The strategy would be to sell into these rallies, lighten up position more and position in defensive sectors.”

"Rupee snapped gains amid dollar demand from oil importers and state-run power companies. Dollar strengthening against major currencies following stronger US economic data also weighed on the local unit," said Dilip Parmar, Research Analyst, HDFC Securities.

“We have successfully commissioned key projects for the second long-term supply contract in this quarter and the pharma API intermediary expansion will be commissioned by March. All these will increase revenue going forward in the next year. We had earlier guided that we are planning to introduce about 40 new products in chemicals and about 50 new products in pharma in next two years. So those projects will go under construction in FY23.”