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Adani index constituents within the FTSE Russell indices will continue to remain eligible in accordance with the underlying index methodologies," it said in a notice published on its website.

Despite strong buying support from domestic institutional investors, Nifty is still down 2.5% this month with several bluechips like SBI, Asian Paints and Titan left bleeding in double-digits. Stocks in the broader market and banks have been among the worst hit.

"The government had introduced new tax regime and we will talk about that, but the problem is that tax rates have not reduced and for higher income brackets, tax rates have only gone up with surcharges etc. Some deductions and exemptions have become largely irrelevant because of inflation over the years where the limits have not changed."

“Let us see how the FPO works for Adani tomorrow. There is an issue that will happen as soon as tomorrow. After that, people can take positions on different stocks. As for the new age stocks, we have invested in one. We are tracking all. We like their business models but that does not mean that the valuation is on the right side.”

"The Budget tomorrow and the Fed decision on interest rates by evening tomorrow will have a big impact on markets. A positive, as we go into the Budget, is that instead of the usual pre-Budget rally on expectations, this time we had a market correction triggered by the Adani crisis," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 480322.60 Crore).

While IDBI Bank is in the process of divestment, with the government having already invited bids for strategic sale, the completion of the same in the current fiscal year remains doubtful.

"There is some need to rationalise LTCG but the key question again is two-fold; one is how much does it help the government in improving their tax collections because the government would certainly look at whether the change will impact the stock market because you do not want a big impact on the sentiments of the retail investor."

More than 100 S&P 500 companies are expected to report results this week, which also includes central bank meetings in the United States and Europe and closely watched U.S. employment data.

"Whatever exposure we are having is backed by cash flow. Total exposure include investment of Rs 42 crore and remaining credit," PNB managing director Atul Kumar Goel said while announcing quarterly numbers.