“While Nykaa valuations are clearly sustainable, if one had to choose between Nykaa and Sapphire Foods, I would choose Nykaa.”

Zomato’s revenue growth came in at 140 per cent year-on-year in the September quarter, with the food delivery business registering gross order value growth of more than 150 per cent in the period.

S Ranganathan, Head of Research, LKP securities said weak global cues led by rising CPI in the US spooked markets as fears of the Fed being behind the curve seem to worry the Street.

In the international market, gold trading higher at USD 1,856 per ounce and silver flat at USD 24.89 per ounce.

The initial stake sale of the payment bank, promoted by Fino Paytech, was open for subscription between October 29 and November 2. However, the lender has not seen any activity in the grey market.

Revenue from operations was up 46.43 per cent to Rs 1,084.01 crore during the quarter under review as against Rs 740.30 crore in the corresponding period of the previous fiscal year.

Gold’s recent rally shows that the market doesn’t expect the Fed -- which last week announced the pace of its bond-buying tapering -- to do much more to tackle inflation right now.

“Right now, the supply situation and especially the inflation in raw materials is a thing that all of us have to keep a very close watch on and manage very carefully.”

Nifty formed another bearish candle, however, it defended the levels of 50-day average.

With this, the Gold ETF category has received a net inflow of Rs 3,818 crore so far this year. The segment witnessed just one month of net outflow, which was in July 2021 of around Rs 61.5 crore.