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The dollar is supported by hawkish comments by Minneapolis Federal Reserve Bank President Neel Kashkari who said his biggest fear is the US central bank misreads the extent and persistence of price pressures and will need to deliver even more aggressive rate hikes to control inflation, said Sriram Iyer, Senior Research Analyst at Reliance Securities.

Following the development, shares of NDTV zoomed 5 per cent, its daily circuit limit, to Rs 384.50 on Wednesday. This is a new 52-week high level for the counter, which settled at Rs 366.20 on Tuesday.

On the technical charts, the RSI of the stock stood at 47.78.

Tata Motors Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 152911.41 Crore) operating in Auto sector.

The euro, which made a brief trip above parity on Tuesday, was struggling at $0.9950 as markets see soaring energy prices setting off another round of inflationary pressure that will take a bite off growth.

Stocks which were in focus included GE Shipping which rose more than 6 per cent, Kalyan Jewellers which gained nearly 10 per cent, and Deepak Fertilisers which rose 5 per cent.

"We are cautious on sectors that are levered to global demand and global pricing. Some downgrade possibility remains in those sectors on worsening global growth outlook. On the contrary, we are more confident in domestic demand-oriented sectors. Given high valuations and many global uncertainties on the global front one should not load up."

“Foreigners have been buying this market and have periods of selling the market as well but one of the other big positives for India is the increasingly large domestic buying. If developed markets go another notch lower, then it is unlikely that India would remain unaffected. But, excluding major international events, the Indian market looks fairly well held up and should not be as volatile as in the past.”

“We are committed to encouraging innovation, especially in fintech and we will be supportive of innovation. At the same time we also try to assess what risks it is building up for the system, for the economy and those risks will have to be addressed not by the regulator. It is our responsibility to see that there is no unbridled, unchecked risk build up.”

The stock is trading around overbought levels hence some consolidation cannot be ruled out, but medium-term investors can look to buy the stock now or on dips for a possible target towards Rs 180 which translates into an upside of about 50 per cent from current levels, suggest experts.