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The Dow Jones Industrial Average rose 53.39 points, or 0.16%, at the open to 33,277.22.

In another transaction, Societe Generale bought 5.3 lakh shares of Steel Exchange India at Rs 214.48 per share. The stock ended up 5 per cent at Rs 235.70 on NSE.

Gold reserves increased by USD 1.274 billion to USD 41.509 billion in the reporting week, the data showed.

“It is difficult to say where the pain level is. There is not one pain level. It is different from country to country; it is also dependent on currency and developments and interventions of the government’s subsidies. I would only say going forward we are likely to experience more volatility than in the past.”

In the international markets, gold was trading higher at USD 1,913 an ounce and silver was marginally up at USD 24.29 an ounce.

Rupak De, Senior Technical Analyst at LKP Securities, said going forward, the recovery may continue as long as 16,550 is held decisively.

“As of now, with the two price hikes that we have already taken, I do not think that we should look for something more. But it is not ruled out also given the fact that in a war like situation, the markets are definitely going to be in a bit of tizzy. ”

The total FDI inflows (which includes equity inflows, re-invested earnings and other capital) aggregated at USD 60.34 billion during the nine month period of the current fiscal year as against USD 67.5 billion in the year-ago period.

The company said a total of 9,000 NCDs were allotted with a face value of Rs 10 lakh each, aggregating to the issue size of Rs 900 crore.

At the interbank forex market, the local unit opened at 75.31 against the greenback and witnessed an intra-day high of 75.18 and a low of 75.46.