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In comparison, Zerodha reported overall revenues of Rs 2,729 crore in FY21, clocking a steep rise in profits at Rs 1,122 crore, in the same fiscal. In FY20, Zerodha’s overall revenues stood at Rs 938.5 crore with profits standing at Rs 424 crore, according to the company’s public filings.

Almost all lenders are now likely to follow the SBI in raising their benchmark rates, with the Reserve Bank of India (RBI) likely tightening monetary conditions to restrain inflation.

The Dow Jones Industrial Average fell 39.54 points, or 0.11%, to 34,411.69, the S&P 500 lost 0.9 points, or 0.02%, to 4,391.69 and the Nasdaq Composite dropped 18.72 points, or 0.14%, to 13,332.36.

The Japanese yen hit a 20-year low against the dollar on Tuesday, supported by high U.S. Treasury yields and likely comparatively good U.S. economic data this week. The dollar rose 0.37% on the yen to 127.44 yen in early trade, its highest level since May 2002.

L&T Infotech, ACC, Mastek, PCBL, Tata Steel Long Products, Benares Hotels, Godavari Drugs and Longview Tea Company are among companies that will announce their March quarter results today.

The boards of Mindtree Ltd. and Larsen & Toubro Infotech Ltd., two software units controlled by the Mumbai-based engineering firm, could consider share swap ratios for the merger as early as next week, one of the people said, asking not to be identified as the information is not public.

The division bench of Justice Gautam Patel and Justice MJ Jamdar, however, clarified that any public issue that LIC proceeds with will be subject to the court’s final ruling. The court will hear the matter further on June 21.

Tuesday may see the market trying to find some base for itself. The levels of 17,330 and 17,400 will act as probable resistance points. Supports come in at 17,150 and 17,000 levels.

"Death Cross signals a bearish trend ahead. But the Nifty50 also made an indecisive Doji as there was no follow up selling after the opening gap down. While the trend stays negative, a bounce cannot be ruled out."

The RBI, which earlier this month, held the benchmark policy repo rate steady at its current record low of 4 per cent, has acknowledged significant upside risks to inflation by sharply increasing its forecast for consumer prices going ahead.