At the interbank foreign exchange market, the rupee opened at 75.78 against the American dollar but later dropped to a low of 75.86.

The Nifty Pharma index closed 1.84 per cent down at 12689.55.

Crypto experts believe that amid the global volatility and rising inflation concerns, the $45,000 mark for Bitcoin should not be seen as a surprise.

The Federal Reserve and Bank of England (BoE) are also forecast to raise rates by a quarter point mid-March. But before the Ukraine crisis erupted, markets saw a high probability both would opt for half-point moves.

A total of 383 shares changed hands on the counter till 02:05PM (IST)

Rakesh Jhunjhunwala held 75,00,000 shares or 5.68 per cent stake in Escorts as of February 18 compared with 6,400,000 shares or 5.22 per cent stake as of December 31. Analyst targets suggest upside is limited for the stock.

Market experts argue that GameFi is not gambling. It refers to the financialisation of video gaming and could transform gaming business models and power the digital economy, they say.

“The country has around 45 days of stocks while 60 days of stocks is normally carried. Normally, in such a situation, there is a demand shift of almost 50% towards palm oil and soybean oil from sunflower oil. Core sunflower consumers would remain at roughly 5% of the total edible oil consumption in India. We have enough oil to manage that supply chain at least till the time normalcy returns which we feel will happen soon and in 30 to 60 days.”

The stock traded at a P/E multiple of 9.83, while the price-to-book value ratio stood at 2.86.

As of 12.05 pm, the stock was down 5 per cent at Rs 113.10. There were around 2.44 crore sell orders across exchanges and no buyers in sight. The company has a very big public shareholding.