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A reasonable negative candle was formed on the daily chart with minor upper shadow, said Nagaraj Shetti of HDFC Securities, who said the pattern indicates a continuation of weakness in the market.

On Wednesday, the yellow metal finished at Rs 51,559 per 10 grams.

“We are seeing a huge traction in the paper industry. That will be the next big play along with textiles. But investors have to stay with the best and stay with the players who have been able to show the pricing power and have an ability to remain tough when things are going to be tough because of inflation but we definitely like these sectors, apart from luggage and exhibitions and all that.”

Goel held 7,60,000 equity shares or 1.56 per cent stake in the company as of March 31, 2022. However, he held 7,80,000 equity shares or 1.60 per cent stake in the company for the quarter ended December 2021.

The stock quoted a 52-week high price of Rs 2764.6 and a 52-week low of Rs 1755.6.

Globally, gold was trading 0.24 per cent higher at USD 1,927.70 per ounce in New York.

“The result season starts early next week and we will see a continued demand momentum on the Indian IT services pack, more so the midcaps. We expect them to grow faster than the larger cap names and that is broadly a reflection of the overall demand strength we are seeing globally in terms of IT services.”

The stock traded at a P/E multiple of 34.38, while the price-to-book value ratio stood at 2.6.

Taki is built on the Solana Blockchain - with support from the Solana Foundation - which allows Taki to provide fast and inexpensive transactions with low environmental impact, and making it accessible to communities at a global scale.

“If I look at the longer term charts for India, we are clearly still in a strong bull market phase but every bull market does have a period of cyclical consolidation and that is what we are going through currently. So both Nifty and the Sensex still have some way to go in trending phases and yes, I do think ultimately the bull market in India will take the Sensex above that 100,000 mark.”