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Block trading tends to increase during times of volatility as institutional investors rebalance their portfolios.

Barring the dollar-pegged USD Coin, all other top digital tokens were trading with higher in early trade on Wednesday. Avalanche rose 11 per cent each, followed by a 4 per cent rise in Ethereum and BNB each.

“I have been saying consistently that BFSI is one sector which was grossly undervalued and there is definitely an opportunity for picking up good quality stocks in BFSI. I have been positive on the corporate facing banks which have been growing their loan books. ICICI Bank, Axis Bank and SBI have been my favourites for some time. On the gold loan side, Muthoot and Manappuram can be bought into at current levels. I also like AB Capital.”

"FIIs as a pack have been booking profits. India has massively outperformed the emerging market peers in the last one to one and a half years. Therefore, it has borne the brunt of the FII profit booking that is taking place even while the DIIs have been buyers. On a slightly longer term basis, earnings growth is likely to remain strong. "

“The commodities cycle is not over and the difference this time is all companies are mostly deleveraged. They are not sitting on four, five times leverage and are consistently paying out the debt. Even the worst of the lot, which I have a holding in, is Vedanta and that is a composite commodity producer.”

Gold futures on MCX were trading down by 0.13 per cent or Rs 62 at Rs 49,323 per 10 grams. Silver futures eased more than 0.16 per cent or Rs 103 to Rs 62,886 per kg.

Federal Bank Ltd., incorporated in the year 1931, is a banking company (having a market cap of Rs 21114.88 Crore).

"Given the fact, India Vix index is sustaining above levels of 20, Nifty will continue its volatile ride, marking huge swings on both sides. Multiple lows ensure immediate support near 16,800, while a decisive breakthrough above prior week’s high (i.e. 17,639) is essential to end the recent series of lower highs," YES Securities said.

Investors are now pricing in around 175 basis points of interest rate increases by next February and a 62% chance the Fed will raise rates 50 basis points at its March meeting. A rate hike of at least 25 basis points in March is fully priced in.

Big institutions like hedge funds and investment funds are becoming increasingly interested in cryptocurrencies and are looking to banks to act as their intermediaries.