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The Nifty IT index closed 0.2 per cent up at 28612.5.

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“Whatever happens on the value and pricing front will be a result of the balancing between all the commodities that go to make our mix and at the moment. It is too early to prognosticate whether it will be better, substantially better or equal to what was the impact in 2022.”

“We see a period of consolidation for the Indian market with further correction in multiples of the market, led by gradual de-rating of multiples of ‘growth’ stocks from current high levels, as the market reconciles to higher-for-longer interest rates. They are yet to correct to lower multiples that commensurate with higher interest rates except for IT services stocks,” it said.

The quota reserved for retail bidders was subscribed merely 40%, whereas HNI quote fetched 1.48 times bids. The allocations for institutional bidders were booked 4.10 times.

Users simply take a photo at a live event or encounter with their favorite celebrity via the fan app. The celebrity then receives the photo through the celebrity app while the fan receives an autographed NFT directly to their NFT wallet.

Those offering shares in the OFS include promoters -- Raj P Narayanam and Avinash Ramesh Godkhindi and investors -- VenturEast Proactive Fund LLC, GKFF Ventures, VenturEast SEDCO Proactive Fund LLC, and Ventureast Trustee Company.

Among Sensex stocks, Tata Motors, HUL, M&M, L&T and Bharti Airtel were the top laggards, falling over 1%. Maruti, NTPC, Tech Mahindra, and Bajaj Finance also closed lower.

This is partly also because of the stretched valuations. Currently, India is the most expensive market within the emerging market pack. It is trading at close to 20 times its one-year forward earnings.

The Nifty Auto index closed 0.77 per cent down at 12879.4.