Macpower CNC Machine, D P Wires, Upsurge Seeds of Agriculture Ltd., McLeod Russel and Shanthi Gears, hit their fresh 52-week highs at 11:20AM.

The Nifty Bank index was trading 1.45 per cent up at 41496.7.

"If the index sustains above 17,018, it can extend the upswing towards 17,550 where a slew of resistance points are placed. However, the swift up move from the lows of 16,438 to a high of 17,170 in just three trading sessions can lead to some consolidation or profit booking," Mohammad said.

Bajaj Finserv, Nestle India, SBI Life Insurance Company, Vedanta, SBI Cards, Shree Cement, Dr Reddy's Laboratories, Punjab National Bank, Mahindra & Mahindra Financial Services and Jubilant FoodWorks are among companies that will announce their quarterly earnings today.

Nifty50 on Tuesday fell for the second day in a row and, in the process, settled below 16,500 level. The index formed a bearish candle on the daily chart, with no upper wick, suggesting selling at the word go. The 50-pack index closed near day's low.

Anand James, Chief Market Strategist at Geojit Financial Services, said that while major falls are not expected unless 16,485 gives away, the prospects of the same in the next week may rise should Nifty find unable to push beyond the 16,690-710 region.

The Nifty Auto index was trading 0.29 per cent up at 12618.15.

The Nifty Pharma index was trading 0.06 per cent down at 12644.65.

The Nifty IT index was trading 0.76 per cent up at 29484.5.

​Ashish Kapur, promoter of premium bar chains Whisky Samba and The Wine Company, said the group has set aside a corpus of Rs 150-200 crore for acquiring a mix of upscale regional and international brands. “We are seeing that the matrix of consumption is evolving, and people are consuming more, and with higher ticket sizes.”

At least a dozen deals are in stages of negotiations or advanced closure, and interest has picked up from private equity players for funding, in addition to established chains looking at inorganic growth with buyouts of small-sized businesses, startups or cloud kitchens in the year.

The Rs 18,000 crore share buyback of TCS will kick off today and the company will continued to accept shares till March 23. It plans to buy back 4 crore shares at Rs 4,500 per share.

Yoga has kept Anish Bafna's mind relatively stress free.

Analysts said the market may see more gains if Nifty 50 succeeds in crossing the immediate resistance level of 15,900.

Orchid is among a handful of Indian companies to post meteoric gains after exiting bankruptcy proceedings. Such rallies could pose considerable risks for investors as those firms typically dont have good fundamentals, according to some market watchers.

Among the stocks that touched their 52-week highs were 8K Miles Software, Akash Infra-Projects, Bafna Pharmaceuticals, Amber Enterprises India , Hero MotoCorp,Krishana Phoschem and Vishal Fabrics.

Overall, 41 shares were trading in green in Nifty50 index, while 8 were trading in red.