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“The biggest trend that has emerged in India over the last three, four years since demonetisation has been the power of Indian money or the so-called retail or HNI money flow which comes into the Indian markets. It cannot drive the markets to a larger extent but it provides a larger cushion to the markets in any eventuality,”

On the options front, the weekly maximum Call OI is placed at 18000 and then towards 18200 strikes while the maximum Put OI is placed at 17900 and then towards 17800 strikes. Call writing is seen at 18200 then 18000 strikes while Put writing was seen at 17800 and then towards 17900 strikes.

“Nifty’s technical landscape is suggesting major support at the 17,761 mark and below the same, the index will form a lower top/low pattern on the daily charts. Immediate upside hurdles are at the 18,265 mark, while confirmation of strength is now only above the 18,473 mark,” Prashanth Tapse - Senior VP (Research) at Mehta Equities said.

Public sector banks remained the darling of the Street as they gained by a majority. UCO Bank, Central Bank of India, Indian Overseas Bank, Bank of Maharashtra, Bank of India, Bank of Baroda, Punjab National Bank, Indian Bank, and IDBI Bank joined the gainers’ list.

On the swing charts, stock has failed to give a bullish follow-through in its recent pullback.

The stock traded at a P/E multiple of 27.3, while the price-to-book value ratio stood at 4.18.

The dollar has been undermined by falling U.S. bond yields as market wager the Federal Reserve can be less aggressive in hiking rates given inflation has clearly turned the corner.

The revenues of Everest, MDH, Catch and Shubham Goldiee expanded between 18% and 35%, though Eastern Condiments and Aachi recorded a marginal drop in sales. Overall, combined sales of the six companies were at ₹8,711 crore ($1.07 billion) in the fiscal ended March 2022.

Prime Minister Narendra Modi will early this week hold a meeting with key finance ministry officials to finalise the February 1 budget, the last full one of this government prior to the 2024 general election, people familiar with the talks said.

The government and LIC together are looking to sell 60.72% in IDBI Bank and had invited bids from potential buyers last October. The two together hold 94.71% in the lender. The successful bidder will have to make an open offer for the acquisition of 5.28% of public shareholding.