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A total of 93 shares changed hands on the counter till 11:11AM (IST).

“It is hard to do anything when crude oil prices are so high or when commodity pack prices are so high. We are net importers. We have to let the rupee depreciate a little bit so that at least the competitiveness of exports is not diluted too much. That is possibly the sort of policy decision that is needed now.”

A board meeting of Sungold Media and Entertainment will take place today to consider the preferential issue of shares and the board of Bengal Steel Industries will meet to consider the voluntary delisting of shares.

Economists polled by Reuters expect the Reserve Bank of Australia on Tuesday will deliver another half-percentage-point rise in interest rates as it fights to tame inflation at two-decade highs, matching the increase it delivered last month in a hawkish surprise.

Stocks that were in focus included names like Jamna Auto Industries which rose over 4 per cent, IDFC First Bank which gained more than 5 per cent, and ITC which hit a fresh 52-week high and closed with gains of nearly 3 per cent.

The index has fallen 16% so far this year, as worries that central banks around the world will push economies into recession to break red-hot inflation have sent investors running for cover.

"Corrections in prices and valuations must be looked at on a stock-by-stock basis after incorporating for the change in operating conditions and business outlook. I believe selectively there are businesses that are available at reasonable valuations in these categories. Historically, the midcap category produces amongst a higher percentage of outperforming stocks, especially in strong rising markets."

“If you have to save bonds, we will have to sacrifice equity and if you have to save equity we will have to sacrifice currency significantly so my sense is that the best thing for RBI and I have made this point many times over that pivot to weakening currency dramatically from here anyways foreigners are actually leaving you and they will continue to leave for reasons which are very fundamental and we can discuss them separately.”

“I would rather be a buyer on dips rather than selling at these prices. In this period of bottom formation, which from now, is on for another couple of months, one will get opportunities with the market being sideways and data still does not support it. One should cash those dips rather than selling now at these levels.”