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"The Nifty recently touched 18,600 levels, and at this juncture, the index now trades at 20x 1-year forward earnings which is comfortably near its long-term average. Going ahead, we believe the overall market trend would continue to be positive given comfortable valuations, strong earnings growth potential, and robust domestic macros."

“There is no celebration by the momentum traders or by investors as portfolios are not at new all time highs, it is only the index. So there is a fair bit of scepticism that is flowing around. That is good as that means there are further legs to this rally.”

“The markets cannot discount geopolitical issues. Monetary tightening expectations has peaked and, to me, the big risk to my base case is escalation in Ukraine. But if that is the risk, the bigger possibility is sudden resolution of the Ukraine conflict which would then lead to a risk on rally and to oil, correcting quickly to the $70. ”

A sharp increase in sales of sports utility vehicles, coupled with an uptick in average selling price of vehicles in the country over the last three years, has prompted the two companies to invest in the technology despite market leader Maruti Suzuki, Renault-Nissan and the Volkswagen Group choosing to stay away from the category after April 2020.

Fusion announced its results late Monday evening. Prior to that, its shares closed 4% higher at ₹375.50 on BSE, where the benchmark Sensex gained 0.34%.Fusion had raised ₹1,104 crore at ₹368 per share in its initial public offering, which included a fresh issue of shares and sale by existing investors.

Former Reserve Bank of India deputy governor SS Mundra is currently the chairman of BSE. Its board comprises of six other directors excluding Ramamurthy - five of them are public interest directors while one of them is a shareholder director.

Barkin said he believes the Fed needs to make sure not to stop raising rates too soon, and should save any talk of potentially loosening policy until it is sure inflation is under control.

That the Fed remains the single biggest influence on equity markets was display Monday, when fresh hawkish rhetoric from policy makers sent the S&P 500 to a 1.5% loss. Down 17% for the year, the index is poised for its worst annual performance since the 2008 financial crisis.

Also, a meeting of the board of directors of Commercial Syn Bags is scheduled to consider and approve the allotment of 2,66,34,800 new equity shares of Rs 10 each to existing shareholders in the proportion of 2:1.

​​Continued domestic flows helped cushion the Indian markets from the impact of foreign selling in the first half of the year. China, Korea, Germany, France and the UK declined between 2% and 17% since October 19, last year, while the Nifty gained 1.4% in this period.