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The Nifty Realty index closed 0.23 per cent down at 417.65.

Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1626003.68 Crore) operating in Diversified sector.

“I do not think we need to look at Rs 80 to a dollar as though the skies have fallen. They have not; but yes, it does create problems for us, particularly as far as inflation is concerned because imported inflation will rise at a time when inflation is already very high.”

A total of 7,981 shares changed hands on the counter till 10:20AM (IST)

"The retail sales data is better than expectations, and I think the economy is on track for a recovery," said Linus Yip, chief strategist at First Shanghai Group."Nonetheless, economic growth is still much lower than its potential, as the fear of COVID outbreaks continues to hurt consumer and corporate sentiment," said Zhiwei Zhang, Chief Economist at Pinpoint Asset Management.

"Overall June quarter earnings are expected to be muted with the impact of profitability will be high considering high input cost across and which may not be possible to pass on immediately. Chemicals, paper, banking, auto, auto ancillary, realty are likely to do well. Metals, FMCG, textile, cement and infra are likely to be weak."

“Ultimately markets are a slave of earnings. So despite all the flows which are happening in largecap funds or the ETF money going into the largecap companies, TCS is at a 52-week low, more than 20% off from the top. Ultimately it is all about how companies do or the economy does and how the overall earnings picture is.”

Higher interest rates would make riskier assets like cryptocurrencies and stocks less attractive as investments. However, the top crypto token - Bitcoin - continued to trade above the $20,000 mark.

“Nazara, Paytm, Nykaa, Zomato and maybe any new listings which may come. Eventually, among these companies and maybe some of the new listings where one will be more circumspect in getting into, one will find the growth story of the decade and will want to own them in the 2020-2030 portfolio. If you are holding it for 10-15 years, then you can make some spectacular gains. ”

Larsen & Toubro Infotech Ltd., incorporated in the year 1996, is a Large Cap company (having a market cap of Rs 67912.42 Crore) operating in IT Software sector.