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"A sort of relief rally is playing out in the market be it largecap, or small and midcap stocks. So that’s been the range and next week will be interesting as you pointed out the monthly expiry. The way markets have seen the momentum on Friday, it can continue next week as well but broadly will be in that range as we have seen since the last few days."

CLSA has maintained a buy rating on NTPC with a target price of Rs 180, thanks to increasing markets. "NPTC is leading the energy transition," it added. The broker said that NPTC ended FY22 on a good note with a 43 per cent rise in renewable capacity.

One 97 Communications, which operates Paytm, said its March quarter net loss widened to Rs 761.4 crore compared to Rs 441.8 crore in the same quarter last year. Losses were marginally lower than Rs 778 crore in the December quarter. Revenue from operations came in at Rs 1,540.9 crore, up 88.99 per cent against Rs 815.3 crore it recorded in the same quarter year ago.

"We are positive on financials, healthcare, chemical and telecom & media sectors. Large private banks are likely to be major gainers of the rising interest rate scenario with valuations becoming reasonable. Healthcare sector is trading at reasonable valuations with companies having higher exposure in India as they are set to benefit from price hikes as permitted by the regulator."

Among Sensex stocks Maruti Suzuki climbed 2.87 per cent to Rs 7,804.70. Axis Security said Maruti Suzuki could emerge as the biggest beneficiary of demand recovery in the post-COVID period, considering its stronghold in the entry-level segment and a favourable product lifecycle.

"The dollar may be carving out a peak, given Europe’s resilience to the energy shock and potential easing of lockdowns in China," said Commonwealth Bank of Australia strategist Joe Capurso.

The company will have one JMD each based in Bengaluru, Hyderabad and Chennai along with Mumbai and Ahmedabad to handle the day to day operations of the region.

At least five stocks will go ex-dividend today. They included Angel One, Caplin Point Laboratories, Coforge, Cyient and Dolat Algotech.

ITC has been a marked outperformer amid weak market sentiment in the week gone by. It continued its bullish momentum followed by a breakout from a bullish flag formation.

The stock, with a market capitalisation of more than Rs 3.6 lakh crore, has remained resilient amid market volatility. The stock has also given a breakout above the falling trendline channel around Rs 1,800. Hence, any dips toward Rs 1,800 can be used to create long positions in the stock.