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Wednesday is likely to see the levels of 16,330 and 16,485 acting as immediate resistance points. The supports come in at 16,160 and 16,030 levels. The trading range is likely to stay wider than usual.

After scaling many new highs, Dalal Street ended the fiscal 2022 with a healthy 18 per cent gains, and ended calendar 2021 with a healthier 24 per cent gains.

New Delhi is considering inviting bids for a 20%-25% stake in BPCL, instead of an outright sale of its entire 52.98% holding, the two government officials, who declined to be named, told Reuters.

In the reporting month, the central bank purchased USD 4.315 billion from the spot market and sold USD 24.416 billion, the bulletin released on Tuesday showed.

The expectation of dollar outflows due to Holcim Group’s sale of its India cement business is also said to have added to the rupee’s rout.

Revenue from operations however rose to Rs 485 crore in the fourth quarter as against Rs 431 crore in the year-ago period, Dr Lal Pathlabs said in a statement.For the year ended March 31, 2022, the company posted a consolidated net profit of Rs 350 crore as compared with Rs 296 crore in 2020-21

The Dow Jones Industrial Average rose 203.58 points, or 0.63%, at the open to 32,427.00.

Elaborating on why he does not hold IT stocks in his portfolio is because he is banking on domestic demand in India rather than global demand and said there are demand concerns out of the country due to various reasons.

“We think that the size of the foreign exchange reserves is huge even though it has come down in the last few months. But it is still quite substantial and at a current account deficit expectation of 2.7% of GDP for FY23, we believe the INR may not breach 79 in a hurry and even if it does breach it,we expect it to pull back from a lower position fairly rapidly.”

The allocation is subject to the approval of shareholders through postal ballot. The Board has fixed July 1, 2022 as record date to determine the eligibility of shareholders to receive bonus shares.