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A total of 107 shares changed hands on the counter till 12:02PM (IST)

On the technical charts, the 200-day moving average of the stock stood at Rs 246.39.

“We are advising clients to stay on the sidelines. SIPs can continue because it is a good market for everything given the fact that there is a decent amount of cut across sectors, but till volatility subsides and crude prices come down, it is still difficult to catch a falling knife. That is why we are advising clients to stay on the sidelines.”

The Nifty Pharma index closed 0.35 per cent up at 12261.35.

By 9.22 am, the BSE Sensex topped the 53,000 market and was trading 539 points or 1.03 per cent higher at 53,080.31. Nifty50 was trading at 15,840.95, up 149 points or 1.03 per cent. Midcap and smallcap indices rose up to 1.14 per cent.

The global cryptocurrency market cap moved up to the $961 billion mark, rising about 3 per cent in the last 24 hours. However, the total cryptocurrency trading volume rallied about 26 per cent to $127.41 billion.

“There is no visibility of a timeline as to when the current crisis around inflation and the Ukraine war will end. There are too many unanswered questions and in such times, it is better to not to have a cowboy attitude and just be on the safer side and take defensive positions and create as much cash as and when you have an opportunity to do so.”

A total of 9,484 shares changed hands on the counter till 10:15AM (IST).

The US Federal Reserve on Wednesday approved a 75-basis-point interest rate hike, its largest in more than a quarter of a century, to stem a surge in inflation, and flagged a slowing economy.

Infosys Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 598176.40 Crore) operating in IT Software sector.