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The Nifty Pharma index was trading 0.45 per cent down at 13192.25.

A total of 4,386 shares changed hands on the counter till 10:40AM (IST).

The market took an average of 24 days from the start of the event to reach a bottom, but it recouped those losses in an average of 28 days later, according to Stovall.

The donation was worth $5.74 billion, based on the closing prices of Tesla shares on the five days that Elon Musk donated the stocks.

The global crypto market cap jumped as much as 5 per cent to hit the $1.95 trillion mark. Furthermore, the total crypto market volume rallied about 16 per cent to $72.23 billion.

Star Health and Allied Insurance Company Ltd., incorporated in the year 2005, is a Small Cap company (having a market cap of Rs 41880.75 Crore) operating in Financial Services sector.

“I would be sticking out for some constant compounders like Divi’s Lab in the pharma space which posted fabulous numbers. Here valuation also fits the bill. There is also value proposition in midcaps in the agri space like Sharda Cropchem. With a buyback in place, TCS is a special situation trade which we are recommending to our investors.”

“It may appear that Indian currency and yields could remain slightly decoupled compared to the world movements in these sectors but after three months, usually things even out if there is an extreme movement on either side. Both can get corrected. According to me, in another three months, you might see some decoupling but otherwise it will balance out by June.”

Bullion is usually perceived as a hedge against geopolitical conflicts, and with simmering tensions surrounding Ukraine, spot gold has closed higher in nine of the previous 11 sessions.

Amar Ambani of YES Securities said Nifty50 has been consolidating since mid-October 2021 and looking at the fall of the last 30 days, the index could further correct from present levels.