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The Relative Strength Index of the stock stood at 51.26 on Tuesday.

As of 31-Mar-2022, promoters held 63.99 per cent stake in the company, while FIIs held 16.07 per cent and domestic institutional investors had 1.83 per cent.

“The biggest contribution to my mind is that we addressed the nuts and bolts of the macroeconomic framework. So, whether it is through the smart use of technology and determination to pursue their goals, we saw digitisation, the insolvency and bankruptcy code, GST and all of this has made possible things like Jan Dhan Yojana and Direct Benefit Transfers as well as faceless assessment of taxation. They created a framework on which we can build for the future.”

A total of 203 shares changed hands on the counter till 11:16AM (IST).

Karnataka Bank Ltd., incorporated in the year 1924, is a banking company (having a market cap of Rs 2038.12 Crore).

Promoters held 29.33 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 50.81 per cent and 5.94 per cent, respectively.

US markets were shut overnight on account of Memorial Day and Chinese PMI reading released earlier today suggested factory activity there fell at a slower pace in May as Covid curbs in major manufacturing hubs, which restricted the market losses.

Analysts said near to medium term growth would remain under pressure due to regulatory issues, slow recovery in the API business and inflated costs, but felt the recent correction on the counter has made valuations reasonable. They have price targets that suggest flat to 30 per cent potential upside on the counter.

Barring Tron, a decentralized blockchain, all crypto tokens were trading sharply higher on Tuesday. Cardano zoomed more than 14 per cent, whereas Ethereum rose 6 per cent. Bitcoin, Avalanche and XRP gained 5 per cent each.

Gold futures on MCX were trading with mild cuts by 0.10 per cent or Rs 50 at Rs 51,044 per 10 grams. However, silver futures were trading lower by 0.64 per cent or Rs 395 at Rs 61,487 per kg.Higher short-term US interest rates raise the opportunity cost of holding bullion, but gold is also seen as a safe haven during economic crises, like a recession.