Ethereum rose about 10 per cent to race past the $1,600 mark and recover all the weekly losses. The second-largest crypto token has been in the news over the blockchain’s ambitious software upgrade -- 'The Merge.'

Fairfax has more than 10 per cent shareholding in two mutual fund houses - Quantum Mutual Fund and IIFL Mutual Fund.HWIC Asia, an affiliate of Fairfax Financial Holdings, has a 49.2 per cent stake in Quantum Advisors, the sponsor of Quantum Asset Management Company and Quantum Mutual Fund.

“The index is likely to witness selling pressure near 17,815-17,900. However, the overall structure suggests that a sharp decline in the short term is unlikely. What we can expect is a short-term consolidation in the broad range of 17,200-18,000,” Ratnaparkhi said.

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At 10:24 a.m. ET, the Dow Jones Industrial Average was down 184.94 points, or 0.58%, at 31,914.05, the S&P 500 was down 28.81 points, or 0.71%, at 4,001.80, and the Nasdaq Composite was down 86.17 points, or 0.72%, at 11,931.50.

“By outperforming, I don't mean our markets will go up, but we will probably not fall as much as others. And if we don't fall as much, we will probably outperform on the upside. This is because of negligible leverage in our markets & all the folks waiting to invest in India,” Kamth said in a tweet.

The IPO of the Bangalore-based startup includes an issue of 3,62,90,000 equity shares of face value Re 1 each for cash at Rs 10 per equity share. The IPO will not have an offer for sale (OFS) component.Infurnia co-founders Nikhil Kumar and Lovepreet Mann will hold the largest share in the startup at a combined share of 50.64%.