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Chandan Taparia of Motilal Oswal Securities said that Bank Nifty opened negative but managed to respect its multiple support near 33,000-33,100 zones and bounced towards 33,600 levels.

However, overall profitability is expected to remain steady, cushioned by a reduction in credit costs.Credit costs, which have been rising for the past couple of years, should decline this fiscal year because most NBFCs hold substantial provisioning buffers. That should offset some of the impact of higher interest rates on profitability, the report said.

The board of directors of the company, at its meeting held on Tuesday, has decided that "further deliberations are required in order to take a decision on the proposal of buyback, and accordingly deferred the matter," , Bajaj Auto said in a regulatory filing.

Wood panel companies’ managements are optimistic on future demand given the sector tailwinds and have guided for 10-15 per cent volume growth in plywood and 15-25 per cent volume growth in MDF in FY23,"

The brokers challenged Sebi orders before the SAT, which was also approached by the NSEL (National Spot Exchange Ltd) which called itself an affected party and alleged that the regulator had failed to consider all the allegations and material in its complaint against brokers.

The Nifty IT index closed 0.14 per cent up at 27953.35.

Gold prices halted one-week of decline on Tuesday as the dollar index fell back after rallying sharply in the previous trading session, Patel added.

A part of Shriram Group, Shriram City provides specialised services in retail and Micro Small and Medium Enterprise (MSME) lending.

Dragged by Reliance Industries and Bajaj Auto, the 30-share pack Sensex fell 153 points to close at 52,694. Its broader peer, Nifty50, slipped 42.3 points to settle below the 15,750 mark.

“In India, the May CPI reading was a bit of a reprieve but May was the month where base effects are also positive on top of the cuts in excise duty and a slightly softer momentum. As we have just seen with the WPI numbers, pipeline price pressures remain, we are still seeing upwards pressure on food prices and a lot of pending energy price increases are likely to happen going forward. We do not think inflation has peaked.”