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Spot gold prices in the Delhi markets traded at Rs 57,463 per 10 gram, up Rs 335 per 10 gram," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.In the overseas market, both gold and silver were trading higher at USD 1,880 per ounce and USD 22.45 per ounce, respectively.

"India has received a bit of bad press and it has sort of come from the whole Adani affair but underlying India remains a very attractive market with good companies with very attractive growth rates coming through for the foreseeable future. The China reopening has perhaps in the short term encouraged some short-term money to flow out of India into other emerging markets, particularly China."

​ Bharti Airtel on Tuesday reported a sharp 92% YoY rise in consolidated net profit for the December quarter to Rs 1,588 crore. >> For more such web stories click on the ET icon below

“The stock has witnessed a bullish movement following the retest of the neckline of a rounding bottom pattern. The breakout was observed during the first week of December 2022, signaling the inception of an upward trend. The breakout is confirmed as it is accompanied by higher volumes.

Uniqlo store operator Fast Retailing shaved another 36 points from the index with its 1.3% decline, falling from the seven-week high touched in the previous session following a steep three-week rally

“On a qualitative level, we have seen that there is margin pressure and the reason for that is many of these companies are unwilling to let go of market share or let go of volume. They are compromising on margins, absorbing the raw material prices increase in order to maintain or increase their market share and use their balance sheet strength wherever they can. That is a good long-term strategy to build market share.”

Since this was the last full budget before the 2024 General Elections, it was expected that the government could announce some income support for the rural sector or implement some measures to boost consumption growth in the economy.

Revenue from operations increased 7% year-on-year (YoY) to Rs 15,438 crore in the December quarter. It was Rs 14,370 crore in the year-ago period.

The resultant shares to be bought back at the buyback offer price will not exceed 10,00,000 equity shares, representing 1.43% of the total number of equity shares in the total paid-up equity capital of the company as on March 2022

However, Sirvastava added that the overall impact on the stock market will depend on various other factors such as global economic conditions, geopolitical developments, and the growth prospects of individual companies.