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The Nifty Realty index was trading 1.03 per cent down at 448.0.

"Markets have already factored in 35 basis points hike by the RBI on Friday, and expectations of not many hikes after this one has led to strong receiving interest in swaps, especially the five-year part," another trader said.

Tech Mahindra Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 101195.02 Crore) operating in IT Software sector.

The stock quoted a 52-week high of Rs 929.2 and a 52-week low of Rs 503.4.

The airline will revert to advance payment mechanism for its daily operations, it added, days after the aviation regulator ordered the low-cost airline to slash its approved fleet to 50% this summer for eight weeks citing safety snags.

Jagwani, who has 28 years of experience of working in the global banking environment, further said, "In the last two years, retail investors have become increasingly interested in equities. The growth of start-ups and unicorns has captured popular imagination."

“In autos, auto ancillary is one part where there would still be opportunities because midcap stocks have still not performed to that extent that the largecap stocks have done in this 2,000 point rally from the bottom. So auto ancillary would be one space and other space is the commodity consumers which will include infrastructure, capital goods, engineering, construction.”

The stock after hitting the 52-week high last year fell nearly 50 per cent and took support above Rs 1,561 on 20th June before reversing losses. It has rallied more than 12 per cent since then.

“The high price of oil and the rupee weakness adds to the imported inflation. So as far as energy prices are concerned, the government has cut back on its excise taxes but that does not really help very much. What could have helped and of course now we are speaking after the event was having the monetary policy being tightened a little bit in advance.”

Sectorally, buying was seen in FMCG, telecom, power, utilities, and energy stocks while some selling was visible in metals, auto, realty, and banking names.