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Gold prices climbed Rs 500 to Rs 74,600 per 10 grams in the national capital on Wednesday on account of increased buying by local jewellers as well as strong cues in the global markets. The precious metal of 99.9 per cent purity had closed at Rs 74,100 per 10 grams in the previous close on Tuesday.

A total of 10,934 shares changed hands on the counter till 01:28PM (IST).

The stock traded at a P/E multiple of 60.68, while the price-to-book value ratio stood at 6.63.

The offering includes a fresh issue of shares worth Rs 500 crore and an Offer For Sale by existing investors. The IPO opens on September 16 and closes on September 19.

Indian benchmark equity indices ended lower on Wednesday in a highly volatile session, weighed down by auto, metal, and banking stocks.

JM Financial forecasts a 13.4% upside for Persistent Systems (PSYS) with a target price of Rs 6,030, citing strong deal wins and stable revenue momentum. Expected to achieve a 15.5% EBIT margin by FY25, PSYS shows promising medium-term growth.

The S&P BSE Sensex dropped by nearly 400 points, while the Nifty50 managed to stay above the 24,900 mark.

Dev Accelerator (DevX), a leading managed office spaces provider plans to grow managed office spaces to 2 million sq.ft. in India and globally in the next two years

Short covering occurs when traders repurchase shares they had previously sold short, often due to a change in market sentiment or new information. This generally reduces open interest and can push stock prices higher. On Wednesday, five stocks experienced short covering

Prices are likely to find support around Rs 5,500 on MCX and $65 on NYMEX WTI. However, while potential OPEC+ production cuts and a possible 25 bps rate cut may provide temporary relief, overall market fundamentals suggest continued downward pressure. Ample supply and weak demand growth projections are expected to keep prices low in the near term.