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The Nifty IT index was trading 1.45 per cent up at 35562.35.

Gold futures on MCX were trading higher by 1.62 per cent or Rs 871 at Rs 55,095 per 10 grams. Silver futures were trading up by 2.13 per cent or Rs 1,520 at Rs 72,905 per kg.

Phoenix Mills Ltd., incorporated in the year 1905, is a Mid Cap company (having a market cap of Rs 16072.66 Crore) operating in Real Estate sector.

A total of 25,064 shares changed hands on the counter till 10:41AM (IST).

The global cryptocurrency market cap jumped to $1.77 trillion, adding almost 3 per cent in the last 24 hours. Total cryptocurrency trading volume tumbled more than 8 per cent to $78.95 billion.

“Dr Reddy’s and Sun Pharma looks quite promising in the pharma pack. The recent correction in the market has given a decent room for a near-term upside. In the metal pack, Tata Steel looks like a value play from here. Vedanta also could do very well and the valuation looks quite promising.”

The recent slide has sent Nifty Bank into a bear market for the first time since March 2020. The index has fallen over 20 per cent from the peak on growing concerns that higher energy prices may curtail India’s GDP growth.

"ONGC, Coal India stocks still have a lot more upside left but this is not from a fundamental perspective. There is no harm holding these stocks fundamentally also. They are very good companies. My decision to buy has been very tactical. Within NBFCs, Mannapuram Finance and Muthoot Finance could again be good tactical calls."

A total of 147,679 shares changed hands on the counter till 10:00AM (IST)

State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 392950.65 Crore).