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"We do see some possibility of de-globalisation into certain areas of manufacturing for self sufficiency across the globe. Sectors like capital goods and defense appear interesting apart from possible de-globalisation themes in the areas of electronics manufacturing, textiles, auto components. We are also positive on banking, energy and food related businesses."

“Traders should look for stock-specific buying opportunities and trade with a positive bias. In case of any declines, the immediate support for Nifty will be seen around the hourly 20-EMA around 16220,” traders said.

The U.S. dollar retreated on Wednesday as the euro extended its overnight bounce on relief Europe might be able to avoid the worst fears concerning energy shortages, and on the chance the European Central Bank may deliver a more aggressive rate hike.

The stock quoted a 52-week high price of Rs 153.4 and a 52-week low of Rs 93.2.

“The results could be a key trigger for Reliance and I am interested in seeing how the entire succession planning plays out in all the three companies. Reliance has made significant investments in clean energy. More than a $12-13 billion capex plan was announced in the last AGM. I will also like to see how the Jio ARPUs are shaping up.”

“When the perceived strength of the US economy comes down, that is the point of time when there will be some correction. Logically, it means that from 80, we can go towards 81. How fast we go will depend upon how the RBI looks at it. RBI needs to ensure that the rate of depreciation in India is just about at the median level of all other comparable currencies.”

A total of 80,688 shares changed hands on the counter till 10:40AM (IST).

Heidelberg Cement India Ltd., incorporated in the year 1958, is a Mid Cap company (having a market cap of Rs 4113.03 Crore) operating in Cement sector.

Wipro, Havells India, IndusInd Bank, Gland Pharma, Tata Communications, Oracle Financial Services Software, Syngene International, Mastek, Ceat and Hathway Cable are among the companies that will announce their quarterly earnings today.

"Indian equity market valuations today are better placed than what it was at the start of the year. So, if you are an investor looking to allocate to equities, then you may consider investing in a staggered manner over the next 12 months. A bottom-up stock picking approach will help reduce overall risk."