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"The SSE should fully understand the huge political significance of the 20th Party Congress, and effectively maintain stability of the capital market," according to the statement, published after the SSE held an internal meeting last week.

HDFC Bank has a market capitalisation of about $108 billion. It has recently edged past Citigroup (over $100. 5 billion), which was at number 17. HDFC Bank is worth more than UBS and DBS Group (both valued at around $58 billion). The country’s largest lender SBI ($57 billion) is at number 32 ahead of BNP Paribas ($55 billion) in terms of valuation.

​​Banks including State Bank of India and Axis Bank have doubled consolidated balance sheet size to $35 billion in the last two years since the unified regulator assumed formal status. Prime Minister Narendra Modi is likely to visit GIFT City this Friday after a gap of five years, launching a host of new initiatives.

Ahmedabad-based drug major Torrent Pharma is reportedly set to foray into the diagnostics business, although a formal announcement is awaited. Last year, its Mumbai-based peer Lupin made an organic foray into the ₹70,000-crore sector. Mankind Pharma and Reliance Life Sciences are other large players that have entered the sector.

The cryptocurrency market crash in June 2022 was spurred by momentary de-risking from Wall Street as several investors now feel highly pessimistic regarding the economy due to increasing inflation, a vulnerable stock market, and rising interest rates.

Anand James, Chief Market Strategist at Geojit Financial Services, said that while major falls are not expected unless 16,485 gives away, the prospects of the same in the next week may rise should Nifty find unable to push beyond the 16,690-710 region.

There is widespread speculation that the US Fed in its July 26-27 meeting may increase the interest rate by 50-75 basis points, which could result in flight of capital from emerging nations like India. With dollar outflow and elevated level of crude oil prices, the rupee would see further depreciation.

While the BSE Bank index has risen by 5 per cent since the beginning of 2022, as against a decline of nearly 4 per cent in the BSE benchmark Sensex, some key banking stocks like Bank of Baroda have rallied by 30-40 per cent in the same period, as per the stock exchange data.

Overall, the bank reported a 29 per cent on-year growth in advances during the reporting quarter at Rs 2,80,171 crore, from Rs 2,17,447 crore a year ago, and 3 per cent growth over the March 2022 quarter numbers when its loan book stood at Rs 2,71,254 crore. But as much as 35.2 per cent of this incremental advances are in the unsecured segment, which on annualised basis soared by 81 per cent to Rs 22,085 crore in Q1.

"As for this year, TAC Security is looking at major expansions in all aspects. We are in the works for a lot of new product launches, partnership announcements, and consistent client onboardings," said Vijay Kedia.