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"The lower prices have made valuations quite reasonable. The quarterly commentary for a lot of companies has been encouraging and long-term investors are pitching in with their purchases for decent returns over the next 12- 15 months. The market should be range bound till October-November when a lot of haziness around Ukraine crisis and inflation would subside."

The global cryptocurrency market cap was trading higher at the $978.65 billion mark, rising close to 2 per cent in the last 24 hours. However, the total cryptocurrency trading volume dropped about 3 per cent to $60.49 billion.

“What is still looking good are top private sector banks and autos. These are looking good across segments. Demand is returning to rural areas, in two-wheelers and that is good. Ancillaries are doing well as are defence related stocks and industrials. The capital goods equipment suppliers will do well. Metals are in not so good a position but if China stimulus comes in, metals could rally very sharply. ”

On the lower time frame chart, a ‘Higher Top Higher Bottom’ structure is seen which is a positive sign for the bulls, but some consolidation could be seen at higher levels.

The Nifty Bank index was trading 0.49 per cent up at 34851.9.

A total of 347,345 shares changed hands on the counter till 10:00AM (IST).

Bharat Electronics Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 63205.22 Crore) operating in Defence sector.

The global environment is still not conducive but our markets are not willing to give up as they continue to attract some buyers at lower levels. Technically speaking, 15,850-15,950 has now become a sacrosanct zone for this week and if global markets support, we may see markets inching northwards.

​​Nomura expects INR to fall to `82 in the third quarter of this calendar year. In general, net exporters will gain as they will receive more rupees for their dollars while net importers will need to pay more to buy dollars for imports. Those with large foreign loans will also see rupee interest costs rise. ET looks at the sectors impacted the most.

“Repeated supply shocks trigger second round effects through cost-push, expectations, exchange rate and demand channels, warranting pre-emptive monetary policy action,” said the RBI research paper prepared by deputy governor Michael Debabrata Patra along with RBI officials Joice John and Deepak Kumar.