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On the technical charts, the RSI of the stock stood at 61.98.

“Among the newer companies, Zomato is one which I will still place my bet on. The second one would be Nykaa where also we can see their point of presence across and that is one company which has the potential of growing big. Route Mobile is another newly listed company which has a decent business model and can do well.”

In the previous trade, the yellow metal had finished at Rs 52,256 per 10 grams.Silver also declined Rs 348 to Rs 57,298 per kg from Rs 57,646 per kg in the previous trade.In the international market, gold was trading higher at USD 1,763 per ounce while silver was trading flat at USD 19.67 per ounce.

The Nifty Auto index closed 0.47 per cent down at 13131.9.

“There is no harm in booking profits. So why are people scared of missing the bus? If you book profits now and things move up another 5%, how does it matter? If you have made 30-40-50% it does not matter so much. Long -term investors can never go exorbitantly into cash. So when we think there is overvaluation, we go 20-30% into cash and then as the opportunities keep on coming up, we keep on investing that money and that cycle goes on.”

A total of 18,738 shares changed hands on the counter till 01:24PM (IST)

The continent-wide STOXX 600 was down 0.1%, hovering near one-week lows.Miners and banks led losses, while energy stocks rose 0.4% as crude prices held steady.The euro zone inflation outlook has failed to improve since the 50 basis point rate hike in July, ECB board member Isabel Schnabel said, suggesting she favours another big interest rate increase next month.

The stock quoted a 52-week high price of Rs 2379.0 and low of Rs 1513.3.

Starting in mid-June, the S&P 500 is up 17%, erasing about half of its bear market plunge. Leuthold then looked at past rallies that broke out in bear markets, some of which fizzled and some of which became new bulls, at roughly the same point in their evolution.

“When one looks at thematic investing, it is very important to catch some of the themes early and as any theme grows and unfolds, the investors get the advantage of carrying on with the growth of that theme. That is the rationale behind getting into funds allowing EV and AI based investing themes.”