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According to forex traders, investors’ upbeat sentiment was restricted due to volatile domestic equity markets and unabated withdrawal of foreign funds.

Unlike forward valuation metrics, the trailing price-to-earnings (P/E) ratio) measures a company’s current stock price relative to its earnings over the past 12 months, providing a retrospective view of valuation.

PSU insurance giant, LIC purchased an additional 17.83 lakh shares between January 1 and March 3, raising its holding from 4.26% as of December.

IRFC and IRCTC have now become the 25th and the 26th “Navratna” companies of India, among the Central PSUs.

Karthik Kumar, Fund Manager of Axis MF notes that the correction in midcap and smallcap stocks has been indiscriminate, creating potential buying opportunities in select areas.

The market witnessed a strong rebound in the second half of the session, especially in the midcap and capex-focused sectors.

Shares of Century Plyboards (India) Ltd were trading at ₹717.70, down 0.54% from the previous close at 02:00 PM, after touching an intraday low of ₹687.15 on the BSE.

The rupee was quoting at 87.3600 to the US dollar at 13:30 IST on Monday. It is the second worst-performing major Asian currency year-to-date, trailing only the Indonesian rupiah.

EIH Ltd shares gained nearly 2% on Monday after the Oberoi Group announced plans for two new luxury resorts in Rishikesh, designed by renowned architect Bill Bensley, in partnership with The Ladhani Group.

While the Indian market is close to bottoming out, it may consolidate before climbing back to previous record highs, Yardeni said.