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“Nobody is buying US Treasuries, everyone is selling US Treasuries. Each and every central bank is buying gold. This year also, we are going to see 850 to 900 tons of gold being bought by central banks versus the 10-year average of 400 tons. All this points to a scenario where gold is heading towards $2300, $2400 in the next one, one and a half years duration.”

“ Gold is at crossroads simply because its future price trend is going to very substantially be dependent on the outcome of the war. I am not ready to accept the proposition that gold prices will jump maybe 10-15% in the next two years. Even to talk about two months or three months or even six months ahead is a terribly risky proposition. Why talk about two years from now?

The Nifty IT index closed 0.78 per cent down at 30344.85.

The stock quoted a 52-week high price of Rs 4066.1 and a 52-week low of Rs 2692.0.

At this point in time, we do not do segment wise reporting, but all I can say very clearly is that the segments that we operate in have significant high barriers to entry and are insulated from many margin pressures and we enjoy healthy margin profile across the three verticals.

Earnings before investment, tax, depreciation, and amortisation (EBITDA) for the quarter jumped 44% YoY to Rs 59 crore in Q2 FY24 as compared to Rs 41 crore in Q2 FY23.

A total of 2,430 shares changed hands on the counter till 02:04PM (IST)

“Some of the largecaps can end up supporting the market which is where you will have to focus. But it is always tough to trade stocks in a counter trend bounce. So, if I say that this is only a bounce after which we may fall further, then individual stocks are very tough to catch.”

The stock market marked the beginning of September with a surge of activity as several major stocks achieved new all-time highs on September 1. These milestones underscore the dynamism of the market and the remarkable growth potential of these companies.

But likely intervention from the Reserve Bank of India (RBI) capped further losses, traders said. The RBI likely sold U.S. dollars near 83.28 levels but the intervention was not aggressive, a foreign exchange trader at a private bank said.