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Also, price caps on Russian products took effect on Sunday, with Group of Seven (G7) nations, the European Union and Australia agreeing on price limits of $100 a barrel on diesel and other products that trade at a premium to crude and $45 a barrel for products that trade at a discount, such as fuel oil

"Muthoot Finance registered a year-on-year growth of 6% in loan assets and marginal quarter-on-quarter growth in gold loans of less than 1%. Yield on loan portfolio witnessed a QoQ increase of 0.84% consequent to stoppage of very low rate teaser loans," said the MD

Traders will look at gold as a safe-haven asset and buy into it," said Phillip Streible, chief market strategist at Blue Line Futures in Chicago.Concerns over a slowdown remain and that is likely to keep demand for gold on a firm footing this year, analysts said

Ahead of its earnings, the stock on Monday ended 0.5% down at Rs 789.25 on the NSE. Recently, it was downgraded by some brokerages in view of the sharp rally in the stock. In 2022, the stock has given 18% returns when benchmark Nifty 50 gave about 4% returns

“The RBI has the luxury of raising rates or deferring it as inflation is cooling off and growth is stable. The market will be looking forward to the guidance on the borrowing program of FY24,” said Nilesh Shah, managing director of Kotak Mahindra AMC.

“Everywhere we have tried to be realistic. And that is why when people ask me, have you reduced your Budget on some things? No, we have been realistic. Absorption is also a very important indicator of where your money will be well received. There is no point in giving money in every head because it exists.”

The Dow Jones Industrial Average fell 51.57 points, or 0.15%, at the open to 33,874.44

A host of companies including Airtel, Adani Green, Hero MotoCorp among others will announce their third quarter results on Tuesday. >> For more such web stories click on the ET icon below

In the last Fed policy meeting, a 25 basis points rate hike was announced with a less hawkish tone. However, US job market data and comments from Fed officials scheduled this week will be very important to watch for.

The Nifty Pharma index closed 0.07 per cent up at 12193.1.