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After hitting a peak of Rs 53,600 on April 18, the yellow metal has dropped about Rs 2,000 per 10 grams in the domestic market. However, gold has not managed to hold the Rs 51,000 mark so far.

Its revenue from operations rose by nearly three-fold to Rs 537.14 crore during the quarter under review as against Rs 181.46 crore in the corresponding quarter last fiscal.

The lender improved on its asset quality and brought down the gross non-performing assets (NPAs) to 14.84 per cent of the gross advances at the end of March 2022, as against 16.55 per cent in the year-ago period.

They have disregarded selling by foreign investors, rising sovereign bond yields or rising inflation in their bid to invest in equities. But things may change soon. Especially after the RBI has started hiking interest rates that will make bank fixed deposits more attractive now.

The pan-European STOXX 600 index slipped 0.1% by 0711 GMT, hovering near its lowest level since mid-March hit on Friday.

“One sticks to the frontline stocks in uncertain times and stays away from the midcaps. This time, largecaps have taken a lot of beating. My take on this entire situation is that frontline stocks have shifted from FIIs which were a stable strong hand partly to DIIs and largely to the individual investors, which is not a very strong hand. So frontline stocks will continue to face headwinds in terms of the supply coming from the individual investors.”

U.S. futures pointed to declines for Wall Street on Monday, with the tech-focused Nasdaq and S&P 500 indicated about 1% lower amid worries that rampant inflation will force even more aggressive Federal Reserve monetary tightening.

Michael Howell, managing director at consultancy Crossborder Capital, noted that U.S. equity declines have tracked a 14% drop in effective liquidity provision by the Fed since December.

Russia has been severed from global financial markets, and its stocks and bonds ejected from indexes after Western nations imposed sweeping sanctions to punish Moscow for its Feb. 24 invasion of Ukraine.

“The second-hand car demand is very high and we see people wanting to buy a second hand car. There is a delay in availability of the new vehicles and so if people want a car, they may prefer to go for a second hand car. Also, for some, the new car price is very high and if the use is very limited, may be they are looking at pre-owned vehicles.”