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Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services, said: “Indian markets again showed resilience in the face of global weakness after the US Fed sounded more hawkish in its future action. Nifty opened a gap down but attempted to recover twice during the day, to finally close with a loss of 86 points at 17,630”.

The Dow Jones Industrial Average rose 20.7 points, or 0.07%, at the open to 30,204.52. The S&P 500 fell 7.6 points, or 0.20%, at the open to 3782.36​, while the Nasdaq Composite dropped 52.8 points, or 0.47%, to 11167.384 at the opening bell.

The levels of 17,700-17,720 are acting as an immediate resistance zone. The tough battle between bulls and bears is a typical characteristic of a consolidation phase. Within this consolidation, the index is expected to slide down to 17,430 and subsequently to 17,200 in the short term.

"The Nifty remained volatile during the day as the market participants adjusted positions according to the FOMC outcome. On the daily chart, Nifty formed a small-bodied candle with wicks on both sides, suggesting indecisiveness,” Rupak De, Senior Technical Analyst at LKP Securities, said.

Divgi is an automotive component entity which has the capability to develop and provide system level transfer case, torque coupler, and Dual Clutch Automatic Transmission (DCT) solutions. It has three manufacturing and assembling facilities located across India.

Stating that India’s valuation premium to its Asian peers remain near all-time high, the global financial services firm said historically at this level, market returns in the next one year have remained muted and thus warrants caution.

The company’s brand positioning as the key player in Southern India with capabilities primarily in speciality care bodes well for the multi-disciplinary integrated private healthcare services provider, said ICICI Securities

“In areas like defence where there is an incredible opportunity for the coming decade. Defence as a sector is where IT was maybe 20 years back. There’s a huge opportunity and with the whole buzz and manufacturing tailwinds and the government’s thrust on indigenisation, clearly defence is a huge opportunity for the next 8 to 10 years.”

"We can see more banks issuing Basel III-compliant as well as infrastructure bonds, with funds getting easily absorbed over the next quarter," he said. According to market participants, bond issuances by banks could touch around 500 billion Indian rupees ($6.21 billion) this financial year, with a bulk of the issues likely in the next quarter. State-run banks have already raised 281 billion rupees through a combination of Basel III-compliant additional Tier

The secondary markets have been volatile lately, which is why the demand for IPOs has been slow, he added. "Investors see attractive buying opportunities in select listed stocks, so there have to be compelling reasons to look at a new stock."