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"Spot gold prices for 24 carat gold at Delhi were up by Rs 77, reflecting overnight gains in COMEX gold prices," Tapan Patel, senior analyst (commodities) at HDFC Securities, said.

The share entitlement ratio was determined by independent valuers KPMG Valuation Services LLP and SSPA and Co, Chartered Accountants, and is based on post-bonus equity share capital of HGS.

Among the gainers Jagsonpal Pharma was high in demand, whereas Kamat Hotels found some buyers. Butterfly Gandhimathi hit an upper circuit.

The Nifty Bank index closed 0.18 per cent up at 37599.15.

“There is derating as far as equity as an asset class is concerned. We are expecting that over the next three-six months, this trend will probably continue and the market will remain range-bound and choppiness is going to be there. There is a risk off trade and certain sections of the market, which were very frothy, are going to see much more pain than other sections in the market.”

For the week, the CSI300 index gained 1.1%, rising the most in three months while the Shanghai Composite Index added 0.8%.

The pan-European STOXX 600 index rose 0.2% by 0820 GMT, with gains in automakers and miners offsetting losses in technology stocks.

According to a report by Credit Suisse, the transition of the digital ecosystem to metaverse will push data usage by 20 times across the globe by 2032 and telecom operators Bharti Airtel and Jio are suitably placed to benefit from the surge.

“The Green Hydrogen announcements of the government yesterday has addressed the supply side. Now the government has to start thinking about how to encourage people to move towards using green hydrogen and creating the demand side of the equation. That is something that we still have to wait and see. This will hopefully allow the cost of producing green hydrogen to come down.”

The data collated by East India Securities shows the money manager bought 1.43 crore shares of gas distributor GAIL (worth Rs 201 crore in current prices), 1.32 crore shares of ITC (Rs 294 crore) and 1.26 crore shares of infra project financier IDFC (Rs 76 crore) during January.