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The Nifty Pharma index closed 0.64 per cent up at 15578.5.

"There is a certain advantage of looking at the gold financiers in Kerala where it is almost a cultural thing. People regularly take loans against gold. I do not think it is the same kind of activity in the rest of the country. Of course, we have had a phase where almost all companies got into gold finance and realized that finally it is not that easy to manage ."

10 companies including CMS Infosystems, KIMS have seen the highest increase in mutual fund holdings in the June 2023 quarter.

At the interbank foreign exchange, the domestic unit opened stronger at 82.83 against the dollar and touched the peak of 82.80. The rupee later traded at 82.81, registering a gain of 10 paise over its previous close. On Tuesday, the rupee had settled at more than 8-month low level of 82.91 against the dollar.

Promoters held 63.13 per cent stake in the company as of 30-Jun-2023, while FIIs owned 9.3 per cent, DIIs 22.13 per cent.

On the technical placement of the yellow metal, Neha Qureshi, Senior Technical & Derivative Analyst at Anand Rathi Commodities & Currencies said that gold on the 4-hour timeframe showed a descending triangle pattern and if it breaks below Rs 59,266, it could further drop to Rs 58,850.

The company is also implementing efforts for bed additions to boost growth momentum over the next three to five years, said the note. It continues to evaluate the inorganic opportunities as well.

Inflation will take centre-stage during the 3-day panel discussion in the backdrop of the recent surge in vegetable prices, particularly tomatoes. Since June, prices of tomatoes have increased by more than 5 times.

Adani Ports reported a consolidated net profit of Rs 2,115 crore for the quarter ended June 2023, which is higher by 83% compared with Rs 1,158 crore in the same quarter last year. Revenue from operations jumped 24% year-on-year (YoY) to Rs 6,248 crore in the June quarter. The same stood at Rs 5,058 crore in the same quarter last year.

​So that is what is keeping the commodity prices a little bit depressed. On the macroeconomic side, in the second half of this year, we are going to have to see if the Chinese economy can pick back up.