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For the quarter ended June 30, 2022, the company has reported a consolidated total income of Rs 2218.06 crore, down 4.95 per cent from last quarter total income of Rs 2333.54 crore and up 26.14 per cent from last year same quarter total income of Rs 1758.41 crore.

Promoters held 41.94 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 29.8 per cent and 12.6 per cent, respectively.

Investors, speculating that the Fed will tip the economy into recession next year in the fight to curb inflation, already see policy makers easing rates in the later stages of 2023.

The stock quoted a 52-week high price of Rs 2864.35 and low of Rs 1975.0.

Gold is highly sensitive to rising US interest rates as they increase the opportunity cost of holding the non-yielding bullion while boosting the dollar. ICICI Direct in its note said that gold was down on the back of a weak US dollar and 10-year treasury yields. US Federal Reserve also pressurised bullion prices, it said.

Valuations of some of the biggest players in the space tumbled this year after a stellar 2021. Shares in Affirm Holdings Inc have plunged over 70%, while Swedish rival Klarna cut its valuation by over 80% to $6.7 billion from $46 billion last year.

Federal Bank Ltd., incorporated in the year 1931, is a banking company (having a market cap of Rs 25873.17 Crore).

The Nifty Realty index was trading 1.23 per cent down at 470.4.

A total of 14,565 shares changed hands on the counter till 11:27AM (IST).

On the technical front, the key resistance level for Nifty50 is 18,100 and on the downside, 17,900 can act as strong support, he said, adding that key resistance and support levels for Bank Nifty are 41,900 and 40,800 respectively.