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“Unless the excesses of the pandemic are removed, the market will not settle. We have been seeing this in individual stocks. All these stocks are landing in their pre-pandemic levels especially in Nasdaq. So until S&P breaches the 3300-3400 zone, which is around 14x-15x multiple, we should not feel that we are out of the woods.”

At 9.25 am, the BSE Sensex was trading 215.28 points or 0.41 per cent lower at 52,631.42. Nifty50 was trading at 15,716.20, down 58.20 points or 0.37 per cent. Midcap and smallcap indices edged 0.2 per cent higher each.

The Relative Strength Index of the stock stood at 43.11 on Tuesday.

Axis Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2021.

The stock quoted a 52-week high of Rs 3000.0 and a 52-week low of Rs 860.5.

Coal India (CIL), in which the central government holds two-third stake, is the star performer even in the last one-month period with a return of over 17 per cent. The stock had hit a 52-week-high of Rs 209 on April 22, 2022 and is now trading at a PE of 10.91.

SBI Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 113389.58 Crore) operating in Financial Services sector.

"There was a wide divergence between sectors adversely affected by rising raw material prices like autos, cement, consumer staples and durables, specialty chemicals and those not directly impacted/benefitted by rising prices including BFSI, metals, O&G and technology.The full impact of raw material inflation would be felt in 1HFY23 as there would be no benefit of lower raw material inventory. The next two quarters are going to see a sharp margin impact and corporate commentaries might get worse before it gets better."

Gold futures on MCX were trading lower, falling about 0.38 per cent or Rs 195 to Rs 50,469 per 10 grams. However, silver futures plunged 0.62 per cent or Rs 374 at Rs 59,937 per kg.Amid prospects of aggressive monetary policy tightening, investors de-risking leaves the potential for gold prices to take another knock.

As of 31-Mar-2022, promoters held 41.94 per cent stake in the company, while FIIs held 31.87 per cent and domestic institutional investors had 11.86 per cent.