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RBI’s recent Financial Stability Report had a graph showing how the number of active traders in both stock exchanges - BSE and NSE - has dipped to below the 1 crore mark in May.

Promoters held 48.76 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 20.83 per cent and 10.09 per cent, respectively.

Wipro Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 226793.24 Crore) operating in IT Software sector.

“I do not think any asset class can keep going up forever, let alone cryptos. So I think the correction was largely warranted and I do not feel like it is a bad thing. We have gotten lucky in India with the regulator coming in and making it harder to buy crypto. So the RBI definitely got that spot on.”

The relative strength index or the RSI is placed at 67.7. RSI below 30 is considered oversold and above 70 is considered overbought. MACD is above its center and signal line, this is a bullish indicator.

Promoters held 51.4 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 17.61 per cent and 19.54 per cent, respectively.

Barring the Unus Sed Leo, which was up by 3 per cent down, all other crypto tokens were lower on Wednesday. Shiba Inu, Dogecoin and Polkadot plunged 4 per cent each, whereas Cardano shed 3 per cent.

Asian Paints advanced 2.64 per cent to Rs 2,839.30. Bajaj Finance gained 1.70 per cent to Rs 5,775.30. Bajaj Finserv, IndusInd Bank, Axis Bank and Kotak Mahindra Bank gained over 1 per cent each. Maruti Suzuki, SBI, Larsen & Toubro, HDFC Bank and ICICI Bank rose up to 1 per cent.

“In 2025, I am very sure we will have a wealthier India. That is the genesis and we are heading into a decent scenario. All we need is a little bit of luck. If oil were to correct to $75-80, even the near term headwinds which India has in terms of trade balance, current account balance, currency and government finances will be all behind us."

"Growing fears of recession is no longer limited to the US alone, as the Germany, Italy and Bank of England also indicated a grim economic outlook," he added. "Traders will closely track the updates from FOMC and the US PMI for June."