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In an indirect call for an interest rate hike, veteran banker Uday Kotak has sounded caution over central banks not following the US Fed in monetary measures. Kotak said that those who have gone out of line had faced severe depreciation.

The rupee depreciating would ordinarily have been a big positive for the Indian IT industry and goods exporters, helping improve margins and competitiveness.But this time, other developments have partially offset the advantage.

The order came after PNB Housing Finance along with its directors approached Sebi proposing to settle the alleged violations of LODR (Listing Obligations and Disclosure Requirement) rules in Carlye Group case "without admitting or denying the findings" through a settlement order.

The committee of creditors has extended the deadline for receiving resolution plans to August 12 from July 31. Those that have already submitted resolution plans can revise them until September 11, said a third person aware of the development.

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.