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The stock after hitting the 52-week high last year fell nearly 50 per cent and took support above Rs 1,561 on 20th June before reversing losses. It has rallied more than 12 per cent since then.

“The high price of oil and the rupee weakness adds to the imported inflation. So as far as energy prices are concerned, the government has cut back on its excise taxes but that does not really help very much. What could have helped and of course now we are speaking after the event was having the monetary policy being tightened a little bit in advance.”

Sectorally, buying was seen in FMCG, telecom, power, utilities, and energy stocks while some selling was visible in metals, auto, realty, and banking names.

On the technical charts, the RSI of the stock stood at 45.01.

The Ramco Cements Ltd., incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 16879.55 Crore) operating in Cement sector.

The stock traded at a P/E multiple of 105.91, while the price-to-book value ratio stood at 19.49.

Adani Ports & Special Economic Zone Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 169253.91 Crore) operating in Shipping sector

" There seems no further scope for FIIs to sell further. As far as the rupee is concerned, we believe it has hit the bottom of 80, and there would be no further downside for it to go below. The causes that pushed factors like inflation, crude oil prices, and metal prices have all begun to retreat. So, commodity prices will become soft as we advance, benefiting the Indian economy."

“Real estate, pure lenders, auto, logistics and healthcare are the five places where we find opportunity and we feel fairly confident about our portfolios going forward. There is a rising participation of the retail players in the equity market and retail tends to go after more of these bottom-up opportunities.”

All the top crypto tokens were trading lower on Tuesday. Polkadot plunged 12 per cent, whereas Polygon tanked 8 per cent. Ethereum, Avalanche and Solana dropped 7 per cent each, while Shiba Inu lost 6 per cent.