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On a sectoral front, Consumer Durable sector was the biggest laggard, followed by sharp fall in IT, realty, FMCG and media counters. Only, Infra, telecom and oil & gas stocks were the only gainers.

Based on the idea of Lynch, a custom screen made by MarketSmith emphasizes securities that are trading for below-average prices on a PE or PEG basis that are not already widely owned by institutions.

"Due to the fact that FIIs were net sellers for a significant portion of December, institutional flows will be another crucial trigger," said Santosh Meena, Head of Research, Swastika Investmart Ltd.

Brokerage firms have a mixed review on the company. A few suggest it is as a long term player citing its strong position in the duopoly market, whereas others suggest to keep off the issue citing rich valuations and complete OFS status.

Some investors were in a hurry to withdraw their assets from Binance as it processed $1.9 billion worth withdrawals in a single day. The exchange has, thus far, remained resilient though its native token, BNB, has dropped by 17% this week.

“Stick with SBI, BoB and CanBank among the largecaps in financials. As a disclosure, we were very bullish on PNB and Union Bank. That has more than doubled. We have taken some chips off the table but we still think there is room and one can continue to grow in the credit splurge which is going to take place.”

“We are overweight on financials. Within financials, we see a long-term, 3-5-year story of a good asset quality cycle. We are recommending people to get into places where stocks have remained cheap and we expect asset quality to stay good for multiple years and not just a single year cycle.”

With a large following on Twitter, YouTube and Telegram, Rakesh Bansal is not only a trader and investor but also advisor, trainer and mentor to thousands of newcomers on the Street.

New York Fed President John Williams said on Friday it remains possible the U.S. central bank will raise rates more than it expects next year

Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.