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In the international markets, gold was trading higher at USD 1,913 an ounce and silver was marginally up at USD 24.29 an ounce.

Rupak De, Senior Technical Analyst at LKP Securities, said going forward, the recovery may continue as long as 16,550 is held decisively.

“As of now, with the two price hikes that we have already taken, I do not think that we should look for something more. But it is not ruled out also given the fact that in a war like situation, the markets are definitely going to be in a bit of tizzy. ”

The total FDI inflows (which includes equity inflows, re-invested earnings and other capital) aggregated at USD 60.34 billion during the nine month period of the current fiscal year as against USD 67.5 billion in the year-ago period.

The company said a total of 9,000 NCDs were allotted with a face value of Rs 10 lakh each, aggregating to the issue size of Rs 900 crore.

At the interbank forex market, the local unit opened at 75.31 against the greenback and witnessed an intra-day high of 75.18 and a low of 75.46.

“Just waiting for a few weeks is not going to do you any harm. Have your shopping list ready but the broader market will take time to recover and will always be led by the largecaps first and then the confidence across the broader market. I am just a little bit nervous about just going to buy anything at the moment. There is a time and it is not right now.”

Promoter buying at a time when share prices have been crumbling is a win-win strategy for the stock. One, it shows the confidence of its owners in the company’s business. Two, it leads to more retail buying, pushing stock prices higher.

“There is a bit of stress on demand. We have seen that continue into January. February is looking slightly better and so I am keeping my fingers crossed that we would be growing out of this. But that said, for Tata Consumer specifically, we remain focussed on the medium to longer term to build a large food and beverage and FMCG business. ”

In an interview with ET NOW, Rashesh Shah of Edelweiss Group said geopolitical events have always had a knee jerk reaction from investors and there is a global risk-off that happens immediately, gold goes up and US currency strengths.