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Given the next week’s options data, the levels of 17,600 will act as an inflection point as it holds the highest Put and Call OI accumulation

The Chennai-based company reported a consolidated profit of Rs 149 crore, down 71% on-year.

"Even now, global liquidity is high and central bankers are still printing money and the Fed balance sheet is still expanding. But that is going to change over the next two, three months and then these kind of loss leadership valuation will not sustain and we will get these stocks at much cheaper rates. When that fall happens, then people lose interest in these companies. At that time, some of the companies with good models will be available at reasonable prices."

For the day, the index closed at 17,605.85, up 142.05 points or 0.81 per cent. At an intraday high of 17,639 levels, the index tested its 20-day moving average and witnessed marginal pullback

At the interbank foreign exchange, the rupee opened at 74.90 against the American dollar, and later witnessed an intra-day high of 74.88 and a low of 75.05 against the greenback.

“Both the government and RBI seem to be prioritising growth at this point in time. Inflation is an issue but it is a lesser issue in India compared to other developed economies. In fact, the US inflation is higher than India and to that extent you would say the interest rates in India are much higher than in the developed world.”

The 30-share pack Sensex advanced 460.06 points or 0.79 per cent to close at 58,926.03. Its broader peer NSE Nifty rose 142.05 points or 0.81 per cent to 17,605.85. Both indices rose for the third straight day.

GALA is among the top 50 largest crypto assets with a marketcap more than $2.5 billion. The recent rally has led to a sharp profit-booking in the token, as the volume has plunged about 40 per cent to $1.13 billion on Thursday

“The RBI Monetary Policy is quite supportive of the growth requirements of the economy. We are also readjusting the liquidity requirements and that will adjust the anxieties of the market to a greater extent. The guidelines relating to CDS will also go a long way to stabilise the bond markets.”

The Nifty Bank index closed 1.04 per cent up at 39010.95.