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In August, the lender had said that Sebi had exempted the Jammu & Kashmir government from complying with its norms on substantial acquisition of shares and takeovers in the proposed acquisition of 16,76,72,702 equity shares (6.06 per cent) of the bank during 2021-22.

In another transaction, India Capital Management sold 216,854 shares of Kirloskar Industries at Rs. 1,407.1 apiece through a block deal on the BSE.

On the sectoral front, consumer-facing sectors like FMCG, retail and aviation are expected to do well as Indians venture out more amid relaxing of restrictions by most state governments.

Varun Beverages was among the most impacted companies due to Covid-19 disruption, but has seen spectacular recovery in the first half of this calendar year as the economy opened up and now the analysts are gung ho on the stock.

The Dow Jones Industrial Average fell 42.09 points, or 0.12 per cent, at the open to 35,401.73.

The regulator, in June, had invited expression of interest (EoI) from "reputed and reliable solution providers for implementation of data analytics project and building of data models at Sebi".

Analysts said the immediate support has shifted higher to the 17,200 level, even though it is the 17,050 level which would be the key for a reversal. A higher target of 17,500 and 17,700 is possible, they said.

Nifty50 hit a fresh lifetime high of 17,340 and closed near higher level with a gain of 90 points.

After hitting a recent low of Rs 124.7 last week given the likely selling pressure from its anchor investors, who forgot that they were in it for the long term after seeing the 70 per cent spike in the stock post its listing in July, the stock has found its mojo back in recent days.

Benchmark indices across the world have hit fresh record highs, almost every other day. But such an exuberance has also kept experienced traders on toes as they know when the tide turns, the situation will unfold even more quickly.