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"The demand may continue on Friday due to holidays in the next week. The range for the day is between 79.40 to 79.80," Bhansali said, adding that oil prices, however, are hovering near USD 100 per barrel, which is a matter of concern for the rupee and current account deficit (CAD).

“We bought Bharat Forge on the reopening trades. We have also taken some exposure in Devyani International and Westlife along with Indian Hotels. We have added some amount of Lemon Tree because that is on a good turnaround path. On the engineering side, I have taken a bet in railway wagon companies like Texmaco and Titagarh Wagons.”

The stock quoted a 52-week high of Rs 94.5 and a 52-week low of Rs 67.73.

The stock traded at a P/E multiple of 60.32, while the price-to-book value ratio stood at 11.55.

The global cryptocurrency market cap was trading marginally down at the $1.15 trillion mark, dropping less than a per cent in the last 24 hours. However, the total trading volume topped more than 4 per cent, close to $84.03 billion.

"Nifty showed some signs of sell-on-news as the morning gains could not be sustained. There are no new data points on the horizon which can impact the Nifty in the near term," Deepak Jasani, Head of Retail Research, HDFC Securities, said.

“Most of the last 18 months or so we have been running with a very big underweight on it but now we have raised consumer staples sector to neutral because while the multiples are still high, we still get growth visibility and good quality management and ROEs. If we get some negative surprises on the rate hike front by the Fed, the staples companies will be a good place to hide.”

“A weekly bullish candle, supported by volumes has been formed and a new high of 9420.50 is made by the stock, initiating a range breakout possibility,” Bharat Gala, President - Technical Research, Ventura Securities, said.

ICICI Lombard General Insurance Company key Products/Revenue Segments include Miscellaneous Insurance, Other Operating Revenue, Fire Insurance and Marine Insurance for the year ending 31-Mar-2022.

"Two, the return of FIIs into the Indian market, which has completely changed the market sentiments here. It is important to appreciate the fact that FPIs have made a complete turnaround in their strategy in India with sustained buying over the last 10 sessions. This, and the fact that India has the best growth story for this year and the next, will impart resilience to the market," Geojit said.