After snapping a two-day run streak, Nifty 50 benchmark finds immediate support in the 22,460 -22,440 zone. A decisive break below this zone could revive selling pressure and trigger further correction towards 22,300.
Kamath described IPOs as a "a full-on party" in contrast to the wider stock market which he stated "feels like a bear market". He noted that the broader market had been falling steadily.
An IndiGo aircraft operating flight 6E925 from Patna to Lucknow was found to have sustained damage to its nose section after landing at the Lucknow airport on Wednesday, with all 104 passengers on board safe.
Bank of India raised repo based lending rate by 25 basis points to 5.50% and effective repo based lending rate from 8.10% to 8.35%, while mark up rate remains the same at 2.85%.
Mid-tier IT companies are expected to outgrow their larger peers, although the brokerage cautioned that acquisitions are boosting headline growth at some companies, making the quality and sustainability of growth an important factor to watch.
