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“We believe the company has all the right levers to grow profitably from hereon supported by its successful transition from infrastructure lending to building a diversified retail-focused loan book,” said the note.

A total of 2,606 shares changed hands on the counter till 12:33PM (IST).

On the technical charts, the RSI of the stock stood at 34.12.

Tracxn Technologies is one of the leading global providers of differentiated private market data and intelligence in a highly competitive industry but it reported negative EBITDA in the previous three financial years, said Anand Rathi Wealth said, assigning avoid rating to the issue.

Promoters held 27.49 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 16.05 per cent and 6.21 per cent, respectively.

Fears around aggressive rate hikes by the US Federal Reserve were back to haunt investors as the surprisingly low US unemployment rate at 3.5 per cent implies that the Fed will have to continue raising interest rates longer than the markets had discounted.

“Even our quarterly seasonality studies of the last 10 years show a success rate of 90%, wherein the last quarter of CY (Oct-Dec) has fared well for broader markets,” says Pritesh Mehta

Market participants expect the 10-year U.S. yield to touch 4% and benchmark Brent crude contract to rise above $100 per barrel.

Bitcoin slipped below the $20,000 mark, whereas Ethereum was slightly above $1,300. Investors across the globe will be keenly looking at the inflation data and the US Fed minutes of the meeting scheduled this week.

The gold market saw some solid selling pressure in an initial reaction to the data and fell to session lows, he added. "Upbeat US data supported the dollar index and the US bond yields. The rise in the dollar index triggered selling in precious metals."