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“An attempt to regroup and aim for 17,750 could unfold if early weaknesses are held above 17,380 or if 17,570 gets broken right away. Inability to do so should call for fall to at least 17,220 before buying interest trickles in,” Anand James - Chief Market Strategist at Geojit Financial Services, said.

"With both the dollar index and bond yields holding steady, gold prices will face some headwinds in the near term," he added. "That said, the long-term up-move remains very much on the cards."

Promoters held 29.3 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 49.97 per cent and 6.42 per cent, respectively.

Fortis Healthcare Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 20319.70 Crore) operating in Hospitals & Allied Services sector.

“The recent resilience of the market is mainly due to favorable cues from US markets and FIIs turning buyers in India. However, markets are unlikely to move towards all-time highs since the global economic environment continues to be unfavorable and valuations are getting stretched,” said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

"More than the headline CPI (consumer price index), which will most likely cool off, the key will be the core inflation," dealer at a foreign bank said. "Core inflation needs to surprise on the downside to provide relief for the rupee."

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

A total of 15,486 shares changed hands on the counter till 10:40AM (IST).

Of the total 12, three lenders - State Bank of India (SBI), Punjab National Bank (PNB) and Bank of India - reported fall in profits ranging from 7-70%. Decline in profit by these lenders has been attributed to Mark-to-Market (MTM) losses due to hardening bond yields.

The slips in Asian markets tracked Wall Street, which closed on Tuesday with all three major indices down. The S&P 500 fell 0.42%, the Dow Jones Industrial Average dropped 0.18%, and the Nasdaq Composite lost 1.19%. The dollar reversed losses overnight and was trading flat in Asia. The dollar index, which measures the safe-haven greenback against six major peers, was down 0.009% at $106.330.