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The country’s largest IT services company by market capitalization also reported 16.8 per cent year-on-year growth in consolidated revenue from operations to Rs. 46,867 crore, which was slightly below Street’s expectations.

"The short end on the swap curve is looking very attractive because it has already moved up significantly and RBI is still not saying that they are looking at normalising the policy rate....all curves have moved up by 20-25 bps in the last 10-15 days so I think the market is adequately prepared,"

Analysts said semiconductor shortage hurt supplies for personal vehicles, premium two-wheelers and light commercial vehicles (LCVs), which will potentially impact sales in the forthcoming festive season.

The 30-share BSE Sensex closed up 381.23 points at 60059.06

“We give credence to future profitability and that is where at least in few companies which have been listed recently -- whether it was on the new age businesses or even on the specialty chemical side -- we find the valuations to be totally out of whack with at least the future cash flows. ”

In September, brokerage firm Morgan Stanley said India’s inclusion in the global bond indices will attract foreign flows worth $170 billion to $250 billion over the next decade.

The regulator has asked the agricultural commodity exchange not to allow any new position in respect of the running contracts but only squaring up of position.

“The investment in TVS Motor in the India long-only portfolio will be removed and replaced by an investment in infrastructure play Larsen & Toubro given the rising hopes of a capex cycle in India,” Wood said in his weekly Greed & Fear newsletter.

Brokerage firm Kotak Institutional Equities, however, is of the opinion that the power shortage in the country is more seasonal in nature than a representation of a structural issue.

“Both the central bank and the government have clearly prioritised growth over inflation or any other challenge.”