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Conducted between July 8 and 15 among nearly 300 investors overseeing $800 billion in assets under management, the survey showed cash levels are highest since 9/11 and equity allocation is at the lowest since the Lehman crisis.

Oil prices whipsawed in the previous session, caught in a tug-of-war between supply fears due to Western sanctions on Russia and pressures on indications from central bankers that they will raise interest rates to combat inflation.

Shares of Halliburton rose 2.1% after the oilfield services provider posted a 41% increase in quarterly adjusted profit. Toymaker Hasbro Inc gained 0.7% after reporting quarterly profit ahead of expectations.

“We view gold financiers as value traps if loan growth does not pick up,” it said. Investec said gold prices and ticket sizes have been the drivers of loan growth but customer base growth has remained weak. Moreover, the competition remains intense with commentary from leading banks suggesting that their focus on gold loans will remain in FY23.

Dollar balanced pressure from rising bond yields, with investors awaiting key interest rate hike decisions from major central banks, which could present a clearer outlook for bullion. Although gold is seen as an inflation hedge, higher interest rates and bond yields raise the opportunity cost of holding bullion, which yields no interest. Spot silver firmed 0.3% to $18.79 per ounce, platinum rose 0.3% to $877.00, and palladium climbed 1.6% to $1,905.50.

The central bank has spent more than $ 41 bn defending the currency since February, reducing import cover to single digits. Economists have voiced their concerns that capital inflows into India in a period of global risk aversion could be insufficient.

Revenue from operations of the company witnessed a growth of 16.51 per cent during the quarter under review at Rs 862.78 crore as compared to Rs 740.51 crore in the year-ago period.

Before this assignment, he held the position of Group General Counsel at ICICI Bank and provided strategic oversight to the legal function of the ICICI group.Earlier, he served as a member of the board of directors of ICICI Securities, ICICI Prudential Trust and ICICI Trusteeship Services.

Ajit Mishra, VP - Research, Religare Broking, said the recent bounce in laggards like IT and metal has further eased the pressure. "We maintain our positive yet cautious stance and prefer sectors like auto, FMCG and banking for long opportunities."

"Profit Before Tax (PBT) grew by 80.1 per cent to Rs 465 crore in Q1 FY2023. Capital gains were at Rs 32 crore in Q1 FY2023 as against Q1 FY2022. Consequently, Profit After Tax (PAT) grew by 79.6 per cent to Rs 349 crore in Q1 FY2023 as against Rs 194 crore in Q1 FY2022," the company said in a regulatory filing.