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The Nifty IT index closed 0.66 per cent up at 28722.85.

The rupee closed at 82.7250 per U.S. dollar compared with 82.6750 in the previous session, while daily volume was lower than on most days, according to traders.A trader at a private sector bank said it was a "dull" session, marked by some dollar demand from importers, while speculators were "mostly" on the dollar offer side.

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“The amount has also increased and the top up in SIPs has started increasing. Previously there used to be retail investments. From an average of Rs 15,000 per account on SIP. It has moved to approximately Rs 5,000. That trend is increasing and there is a far higher acceptance of SIPs, particularly among the new investors.”

"The financial performance this quarter continues to be strengthened by our sustainable long-term strategy of investing in the digital eco-systems and robust technology to provide all market participants an easy and secured platform," CDSL MD and CEO Nehal Vora said.

Shares of Railtel Corporation rose up to 9% to the day’s high price of Rs 115.85 while that of Rail Vikas Nigam rose 8% to hit the day’s high price of Rs 40.15 apiece on the NSE

The Nifty Auto index closed 1.24 per cent up at 12952.8.

Investors can subscribe to the DCX Systems IPO by betting for a lot of 72 shares or in multiples thereof. At the upper range of the price band, one lot of the IPO is worth Rs 14,904. A retail bidder can bid for 13 lots or 936 shares at maximum.

Kotak reported a strong Q2FY23, outperforming 11 per cent and 4 per cent on PAT and NII, respectively. NIMs expanded 23 bps to 5.17 per cent. Loan and asset growth too came in strong at 5 per cent and 4 per cent QoQ, respectively, said Nuvama Research.

“I always look very long. I am not looking at the next quarter’s profit. That is the job of the analysts. We are looking in the long run. For the last three years, there was so much pressure but we were always looking at how we are building a franchise for the long run; what is the story going to look like in five years or eight years.”