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The index dropped for a fourth straight session on Wednesday on rising concerns over a slowdown in economic growth ahead of a slew of interest rate decisions from major central banks next week.

TCS (Rs 9,548 crore), Infosys (Rs 5,795 crore), HDFC Bank (Rs 4,108 crore) and Bajaj Finance (Rs 3,614 crore) were the other top wealth creators on the list. Adani Transmission, which made investors richer by Rs 2,538 crore during the last 5 years, is the only Adani group stock in the top 10 list.

We believe that we are on the last leg of rate hike cycle and sometime in the mid of 2023 Fed will stop raising the rates and if the market sail through the next six to nine months smoothly we could see the next level of triggers emerging in the market.

On the technical charts, the 200-day moving average of the stock stood at Rs 2437.89.

However, analysts have a mixed opinion on the counter as a few suggest holding the counter for the long term, whereas others suggest profit booking, either on a partial or full basis.

As of 30-Sep-2022, promoters held 48.76 per cent stake in the company, while FIIs held 20.71 per cent and domestic institutional investors had 9.82 per cent.

In Japan, chip-making equipment maker Tokyo Electron lost 0.94%, game and audio equipment maker Sony Group fell 1.93% and robot maker Fanuc slipped 0.6%.

Finbridge Expo is India’s leading exhibition and conference, catering specifically to the financial services and technology industry.

A total of 49,193 shares changed hands on the counter till 01:45PM (IST)

The stock traded at a P/E multiple of 77.47, while the price-to-book value ratio stood at 7.87.