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Many top altcoins have gained over 15% during the week, including Polygon (MATIC), Terra (LUNA), Polkadot (DOT) and Dogecoin (DOGE). Near Protocol, which raised $150 million from Three Arrow Capital, surged more than 35% this week as the competition among Layer 1 protocols intensified.

“Despite expectations being buffered by elections and infections, the Budget may include further strengthening of the digitization initiatives of the government. There could be decisive moves on Central Bank Digital Currency, Digital Bank as well as crypto currency.”

Among the sectoral indices, the BSE Power index led the rally with a more than 7 per cent jump, whereas the capital goods index zoomed 6 per cent.

For the coming week, the 18,300-18,350 range will be an area of test for the bulls and a failure to push the Index beyond this could trigger deeper corrections dragging the Index lower to levels of 18,100-18,000.

Inflation and the coronavirus did not hold back the stock market last year, but in 2022, investors face new worries.

Monday is likely to see the levels of 18,300 and 18,390 acting as immediate resistance levels. The supports come in at 18,200 and 18,110.

Going ahead, however, market interest rates are likely to harden as global central banks are moving towards tightening the liquidity spigot. Elevated domestic fiscal deficits are also likely to exert upward pressure on government bond yields.

"Oil India (USA) Inc (wholly owned subsidiary of OIL), divested its entire stake in Niobrara shale asset, USA," a regulatory filing by the company said, adding the consideration received was USD 25 million.

The scheme is expected to give a major boost to localising the electric vehicles (EV) supply chain in India. Despite being a key component for EVs, all such vehicles sold in India presently rely completely on imported cells, mainly from China.

Meme stocks, blank-check companies and high-flying biotech names that were all the rage at the start of 2021 are now running cold. The first two weeks of the year have brought a 17% tumble for a group of stocks that went public via merger with blank-check firms and a 10% correction for the biotechnology industry.