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AMFI CEO N S Venkatesh said rising interest rates, weakening Rupee, mixed start to monsoon in India, and rising inflation has not deterred small savers from continuing to patronize the SIP mode of savings. “SIP accounts at 5.54 crore as of June 2022, at an all-time high, and monthly SIP contribution powerfully holding at Rs 12,276 crore is an indicator of continued confidence in mutual funds,” he said.

"I will not be surprised if the commentary from companies during the current quarter shifts towards a re-prioritisation of client spends when customers are once again looking for more cost savings and that typically tends to play to the advantage of Indian IT companies. If there is increased impetus on optimisation, that is positive for offshore IT. But this typically tends to play with some amount of lag."

Abe, best known for his signature "Abenomics" policy that featured bold monetary easing and fiscal spending, appeared to have been shot from behind by a man with a homemade gun.

A total of 58,119 shares changed hands on the counter till 01:48PM (IST)

Analysts expect TCS to report revenue growth driven by an acceleration in digital transformation demand and deal ramp-ups from clients onboarded in previous quarters. Among the deal wins reported in Q4 FY22 were Sun Life Financial, Payments Canada, NXP Semiconductor, Ministry of External Affairs at the Government of India, etc.

“I would be still cautious about IT companies despite the corrections in these companies over the last few months. I would still think that the time to buy them is some time off. In the case of infra stocks, one must go for companies which are more focussed on getting orders profitably and not extending their balance sheets too much.”

The U.S. non-farm payrolls report due at 1230 GMT will show jobs growth likely slowed in June and unemployment rate unchanged at 3.6%, underscoring a tight labour market that could encourage the Federal Reserve to hike interest rates by another 75 basis points later this month.

Growth momentum will be impacted by slowdown and high inflation while margins may remain under pressure led by operating cost of DMart Ready business and inferior mix due to higher inflation, YES Securities said.

AMFI CEO NS Venkatesh said a strong momentum towards the big megatrend of financialization of savings is being observed across the country. Pointing out that small savers are continuing to patronize SIP mode of savings, he said positive flows in retail MF schemes at current levels will continue in CY2022.

On the technical charts, the 200-day moving average of the stock stood at Rs 877.63.