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Spot gold prices for 24-carat gold in Delhi fell by Rs 254 per 10 gram in line with fall in COMEX gold prices," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.In the international market, gold was quoting lower at USD 1,751 per ounce while silver was flat at USD 19.22 per ounce.

We have not sold anything. Even if there is a global position, the best way global companies can cut costs is by moving to India but in the near term, momentum is not there because there is margin pressure," he said.The majority of IT counters have missed Street estimates in June 2022 quarter and their margins have remained under the pressure, facing the biggest earnings challenge in more than a decade.

The Nifty Auto index was trading 0.85 per cent up at 12987.2.

Analysts say positional traders should book profits after the breathtaking rally. Technical data shows the MACD was above its center and Signal Line, which is a bullish indicator. However, the RSI was at 80.4, indicating that it could be in an overbought zone and the stock may show some pullback.

Sun Pharmaceutical Industries Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 213024.96 Crore) operating in Pharmaceuticals sector.

The global investment bank is of the view that private sector banks are likely to report a strong 20 per cent EPS CAGR for the next three years. Financials sector is more attractive relative to other sectors, it said.

Santosh Meena, Head of Research, Swastika Investmart, believes that the company deserves a higher premium multiple due to its phenomenal growth prospects. "Those who applied for listing gains can maintain a stop loss of Rs 225. New investors can buy for the long term and existing investors are recommended to stay invested in the company," Meena said.

The company has reserved 75 per cent of the net offer for qualified institutional buyers (QIBs), whereas non-institutional buyers (NIIs) will get a 15 per cent allocation. Retail bidders will get only a 10 per cent allocation.

To summarise, I do believe that simple, cost-efficient, and disciplined investments are the best and the only way to sustained wealth preservation and creation and investor treading any other path often leads to investment accidents and loss of capital.

Powell will address an annual symposium of global central bankers in Wyoming later on Friday, and is expected to signal that the Fed is not yet ready to end steep rate hikes to quell inflation.