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Gold prices fell on Wednesday, weighed down by a stronger dollar and U.S. Treasury yields, while palladium gained on supply worries as Western countries ramped up sanctions against Russia over its invasion of Ukraine.

The price of a barrel of crude, already on the march higher in January on supply worries and expectations of a strengthening global economic recovery, has rocketed upward since Russia launched its invasion of Ukraine on Feb. 24. Oil is now roughly double its early December low.

The Rs 18,000 crore share buyback of TCS will kick off today and the company will continued to accept shares till March 23. It plans to buy back 4 crore shares at Rs 4,500 per share.

The Dow Jones Industrial Average rose 67.79 points, or 0.21%, at the open to 32,885.17.

To start with, NSE IFSC commenced trading in major US stocks like Apple, Alphabet, Amazon, Microsoft, Meta Platforms, Tesla to be settled on a rolling T+3 day basis through its Clearing Corporation Ltd (NICCL).

The lender raised the fund at 11.8 per cent rate, payable semi-annually. It allotted the non-convertible debentures worth Rs 75 crore in favour of these investors on Monday.

​​The company -- which did not declare the outcome of voting at its 33rd AGM held on December 30, 2021, due to ongoing litigations -- was directed to disclose the results by capital markets regulator Sebi in an interim order passed on Monday.

The Relative Strength Index (RSI) on the daily chart is 33.97. It is neutral and does not show any divergence against the price. The daily MACD is bearish and stays below the signal line.

“Because the yields have gone up, that has led to a mark to market loss on the portfolios but what is important to note in fixed income is as the yields go higher, it is the carry advantage that starts playing at investment level and though the yield curve has priced in almost 100 bps of rate hike incrementally, even in case of sharp moves, the impact on the markets may not be very high.”

The entire banking block saw buying at low levels. Nifty Bank rose about a per cent, breaking a five-day losing run. RBL Bank topped the charts, followed by AU Small Finance Bank and Bandhan Bank.