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The rupee weakened past the 77/$1 level and was last trading at 77.1325/$1. The Indian currency had closed at a record low of 76.98 on March 7.

“We are in a very good credit turnaround cycle; credit demand should pick up, credit cost will come down and we should have bumper profit growth coming from the banking sector as a whole and valuations are reasonable. We have some kind of tailwind in the economy except for this war and inflation.”

Grindwell Norton Ltd., incorporated in the year 1950, is a Mid Cap company (having a market cap of Rs 18321.39 Crore) operating in Industrial Consumables sector.

​​The BSE Sensex slipped below the 54,000 mark briefly while the Nifty50 also tested 16,150 before seeing some recovery.

Gold futures on MCX dropped marginally by 0.10 per cent or Rs 54 to Rs 51294 per 10 grams. Meanwhile, silver futures were trading lower by 0.24 per cent or Rs 148 at Rs 62,400 per kg.

"The demerger process of Shipping Corporation of India (SCI) is on. We are going to hive off all the real estate of the company. So they will not be part of the privatisation process," a senior government official told ET.

On Thursday, Reuters cited sources and a document saying the bank was looking to reduce the number of branches by 600, or 13% of the total, by either shutting or merging loss-making branches by the end of March 2023.

While some measures may have been in the works prior to the breaches, their urgency and attraction have increased after hackers siphoned more than $1 billion out of crypto bridges like Wormhole and Ronin -- most of it in February and March.

The latest selloff in the secondary markets has hit both the listing candidates hard as their premia in the unofficial have nosedived sharply, with one of them hinting at a discounted listing.

All in all, the technical structure of the markets remains weak. However, given the quantum of shorts in the system, a technical pullback fueled by short-covering is overdue and imminent.