The rout in Adani group stocks continued to play havoc as benchmark indices gyrated sharply intra-day before recouping lost ground on buying in IT and banking stocks.
Investors are set to enter a new era from Friday with implementation of T+1 settlement cycle in the Indian stock exchanges.
Earlier, trades on the Indian stock exchanges are settled in two working days after the transaction is done (T+2).
If a Budget includes steps that are seen as negative for businesses and the economy, it may have a negative impact on stock markets.
HCL Tech, HDFC twins, Asian Paints, IndusInd Bank, TCS and ITC were among the gainers.
IndusInd Bank, Tata Motors, Kotak Mahindra Bank, Titan, Hindustan Unilever, UltraTech Cement, and Nestle India were among the other major laggards, shedding as much as 1.89 per cent.
Rs 10,869 crore of the FPO will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway.
IT counters were in heavy demand ahead of earnings from TCS later in the day.
Asian Paints, Titan, Tech Mahindra, Sun Pharma, Bajaj Finance and SBI were among the laggards, losing as much as 1.47 per cent.
Bharti Airtel topped the Sensex gainers' chart with a jump of 1.99 per cent, followed by SBI, Tata Steel, IndusInd Bank, Axis Bank, Sun Pharma and ICICI Bank.
Morgan Stanley says profits will get squeezed on the other end by higher wage costs after businesses had to give workers’ raises.
Tech Mahindra was the biggest laggard among Sensex components, tumbling 3.98 per cent, followed by Infosys, Titan, HDFC, ITC, HDFC Bank, Tata Steel and TCS.
At the interbank foreign exchange market, the rupee opened sharply lower at 82.63 against the greenback and witnessed a high of 82.41 and a low of 82.77.
Tech Mahindra, Tata Steel, NTPC, IndusInd Bank, State Bank of India, Power Grid, HCL Technologies, Tata Consultancy Services and Larsen & Toubro were the major winners.
Tata Steel, Dr Reddy's, Tech Mahindra, IndusInd Bank and HCL Technologies were among the winners.
Among the Sensex pack, Mahindra & Mahindra, UltraTech Cement, Power Grid, Hindustan Unilever, Bharti Airtel, Asian Paints, Tata Steel and Titan were major gainers.
The present proceedings emanate from a show-cause notice issued to Udai Kumar in December 2021 by the Securities and Exchange Board of India.
The Sensex, up 7% this year so far, has surged maximum among benchmarks in countries that have stock markets valued at least $1 trillion, according to Bloomberg.
The broader NSE Nifty gained 216.85 points or 1.19 per cent to end at 18,484.10.
Power Grid, Tech Mahindra, Titan, Bharti Airtel and Bajaj Finserv were among the laggards.