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On the weekly Options front, the maximum Call OI is placed at 17800 and then towards 17200 strikes while the maximum Put OI is placed at 17000 and then towards 16900 strikes.

MCX April gold futures were trading flat at Rs 58,599 per 10 grams in the early trade though the bias was positive. Meanwhile, May silver futures were up by Rs 230 or 0.34% at Rs 68,624 per kg.

The decision to write down or having zero value for AT1 bonds for Yes Bank would not weigh on the cost or pricing part of the bonds. Discretion was exercised by the regulator and the bank after the resolution program was worked out. APAC cost may not go up and the larger issuances would continue. Midcap banking names may suffer a bit of setback as some clarification is required, particularly when they want to raise capital through AT1 or CoCo bonds

Promoters held 11.45 per cent stake in the company as of 31-Dec-2022, while FII and DII ownership stood at 44.81 per cent and 32.26 per cent, respectively.

India may see a rotation out of IT stocks and into defensives like Hindustan Unilever, Nestle, and Procter & Gamble, said Vinit Bolinjkar, head of research at Ventura Securities. Bolinjkar claimed that the financial services and insurance market for Reliance, which is expanding its business in the sector, is already crowded with 24 players, meaning Reliance will take time to dominate, and will need a good strategy and growth plan.

While the outlook on Indian banks has remained resilient amid rising credit growth in a well-regulated environment, the current predicament for the banking and financial services sector in developed markets has thrown a spanner in the works for Indian software exporters.

“The focus should be on portfolio diversification. The company is witnessing a strong growth outlook in the non-gold business. FY24 target includes 20% consolidated growth supported by non-gold,” BofA said.

Rockstud Capital Managing Partner Abhishek Agarwal predicts that Indian markets will remain range-bound between 17,000 and 18,500 due to factors such as inflation and foreign investors moving out of emerging markets. However, he believes that PSU banks will perform well due to NPAs falling on a quarterly basis and a higher share of the marginal cost of funds based lending rates.

The proposed IPO will have both fresh issue of shares and offer for sale components.

Shibani Sircar Kurian of Kotak Mahindra AMC says Indian markets may remain range-bound and volatile due to the uncertain global macro environment. However, the long-term valuations for India on an absolute basis are back to trend levels and provide some downside support. Companies and stocks that deliver superior earnings profiles and have favourable valuations will be the focus for investors.