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<keyword id="19898109" type="General" weightage="100" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword> has regained approval from the National Payments Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>) to onboard new UPI users, marking a significant turnaround for the fintech giant. This development follows a setback earlier this year when <keyword id="20410154" type="General" weightage="20" keywordseo="Paytm-Payments-Bank-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm Payments Bank Limited" meta.hostid="261" meta.entityid="Paytm Payments Bank Limited">Paytm Payments Bank Limited</keyword> (PPBL), an associate company of Paytm, was barred from adding new users to its UPI platform due to regulatory concerns raised by the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI). <h2>Paytm gets permission to onboard new UPI users </h2> In a regulatory filing on Tuesday evening, Paytm disclosed that NPCI granted permission for the company to resume onboarding UPI users, provided it complies with all procedural guidelines and circulars issued by the corporation. “We would like to inform you that vide letter dated October 22, 2024, the National Payments Corporation of India (NPCI) has granted approval to the Company to on-board new UPI users, with adherence to all NPCI procedural guidelines and circulars,” Paytm said in the filing. This move is seen as a relief for the company, which has been under scrutiny following the RBI’s intervention in January. The NPCI, which had previously allowed Paytm to operate as a Third-Party Application Provider (TPAP) for UPI transactions, has now reinstated its ability to bring new users onto the platform, albeit with strict conditions. Paytm can continue UPI operations through its partnerships with major banking institutions, including SBI, HDFC Bank, Axis Bank, and YES Bank. The NPCI’s approval comes after a thorough review of Paytm’s compliance with procedural guidelines, including those pertaining to risk management, app branding, multi-bank participation, and data privacy. The fintech firm has been instructed to adhere to key regulatory frameworks, such as the Payments and Settlement Act of 2007 and the Digital Personal Data Protection Act of 2023. This approval follows a request by Paytm’s parent company, <keyword id="20253123" type="General" weightage="20" keywordseo="One97-Communications" source="keywords">One97 Communications</keyword> Ltd (OCL), in August, seeking permission to resume UPI onboarding. The NPCI’s decision also reflects that Paytm has addressed concerns raised in the RBI’s directive from earlier this year, which had highlighted persistent non-compliance issues with its banking subsidiary, PPBL. On a related note, Paytm reported a strong financial performance for the quarter ending September 2024. The company posted a net profit of ₹928.3 crore, a marked improvement from the ₹290.5 crore loss it recorded during the same period last year. <h2>What had happened? </h2> For the unversed, in January 2024, the Reserve Bank of India (RBI) told Paytm Payments Bank Limited (PPBL) to stop accepting deposits and processing UPI top-ups. This decision stemmed from ongoing concerns about the bank’s compliance and serious issues that needed addressing. As a result, Paytm found itself unable to onboard new UPI users, significantly disrupting its growing customer base and raising doubts about its future in the crowded <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> market. However, things took a turn for the better in March 2024 when the National Payments Corporation of India (NPCI) gave Paytm the green light to resume UPI transactions. The catch? Paytm could only operate as a Third-Party Application Provider (TPAP), meaning it had to partner with established banks like SBI, Axis Bank, HDFC Bank, and YES Bank for its UPI services. While this arrangement posed some limitations, it allowed Paytm to keep moving forward and adapt to the regulatory challenges it faced in India’s digital payment landscape. (with PTI inputs)

Paytm can onboard new UPI users again, receives NPCI nod months after RBI restrictions

The one-hour <keyword id="23618998" type="General" weightage="100" keywordseo="Muhurat-trading" source="keywords">muhurat trading</keyword> session, which marks <keyword id="20963892" type="General" weightage="20" keywordseo="Diwali-2024" source="keywords">Diwali 2024</keyword> and the onset of Hindu Samvat 2081 on both NSE and BSE, is set to commence at 6 pm today and will conclude at 7 pm. Generally, investors and traders make symbolic stock buys during this hour-long session, since it is believed that purchases made during this time herald wealth and prosperity for one’s investments for the year to come. If you are looking for <keyword id="19910146" type="General" weightage="20" keywordseo="stock-recommendations" source="keywords">stock recommendations</keyword> to add to your portfolio, here are a few value picks by SAMCO and Kotak Securities you can consider: <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> Ltd Holding period: 1 year Last Traded Price: Rs 1,734.30 Per the firm, “The bank has maintained a robust 10-year profit CAGR of 21.74%, operating with a NIM (net interest margin) of 3.5% and a low net NPA (non-performing assets) of 0.3%. Advances and deposits have shown steady growth. Currently, the stock trades below its 10-year average price-to-book value and at a price-to-earnings ratio of 19, offering a favorable risk-reward profile with a substantial downside buffer”. <keyword id="22086440" type="General" weightage="20" keywordseo="Vindhya-Telelinks" source="keywords" meta.keywordsubtype="org" meta.entityname="Vindhya Telelinks" meta.hostid="261" meta.entityid="Vindhya Telelinks">Vindhya Telelinks</keyword> Ltd Holding Period: 1 year Last Traded Price: Rs 1,992.55 SAMCO notes that this key cable manufacturing, which is a joint venture between Universal Cables Limited and Madhya Pradesh State Industrial Development Corporation, has shown robust growth over the last 5 years, nearly doubling revenues with a 14.3% CAGR. The company holds significant investments in Birla Cable Ltd, Birla Corporation Ltd, and Universal Cable Ltd, totaling Rs 3,618 crore—surpassing its market capitalization of Rs 2,545 crore. This solid investment base underscores Vindhya Telelinks’ strong fundamentals and financial potential. <keyword id="23763358" type="General" weightage="20" keywordseo="Ramco-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Ramco Industries" meta.hostid="261" meta.entityid="Ramco Industries">Ramco Industries</keyword> Ltd Holding Period: 1 year Last Traded Price: Rs 244.89 SAMCO observes that over the past decade, sales grew at a 7% CAGR, while the share price rose at a 14% CAGR. Known for its financial stability, Ramco Industries boasts a low debt-equity ratio of 0.07 and has consistently paid dividends since FY17, currently yielding 0.31%. The stock’s attractive price-to-book multiple of 0.5 offers a solid margin of safety, highlighting its investment appeal. <keyword id="22786675" type="General" weightage="20" keywordseo="Gravita-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Gravita India" meta.hostid="261" meta.entityid="Gravita India">Gravita India</keyword> Holding Period: 12 months Last Traded Price: Rs 2,119 Kotak explains that Gravita India is the market leader in India’s emerging recycling industry with a focus on lead recycling. Gravita India is increasing its recycling capacity by a massive 72% to 500 ktpa by FY27E. “We expect the company’s earnings per share to grow by 31.8% in FY25E &amp; 31.6% in FY26E. We also expect an upside of 15% or more on this stock over the next 12 months”, adds Kotak’s note. <keyword id="23763359" type="General" weightage="20" keywordseo="S-H-Kelkar" source="keywords" meta.keywordsubtype="org" meta.entityname="S H Kelkar" meta.hostid="261" meta.entityid="S H Kelkar">S H Kelkar</keyword> and Company (SHKL) Holding Period: 12 months Last Traded Price: Rs 289.90 The company is a flavors &amp; fragrances (F&amp;F) supplier and has started to make inroads into the global market. SHK is well-placed to drive double-digit revenue growth. The company is a small but emerging contender in the vast F&amp;F market, with potential for margin expansion—higher-margin geographies &amp; operating leverage—allowing for over 15% return upside in the next 12 months. Kotak Securities further notes that FY25 will likely see more broad-based growth across sectors. However, the OMCs (oil marketing companies) may likely drag down overall profits. Most sectors and stocks are quite overvalued, with the degree of overvaluation ranging from: (1) low for most large-cap consumers, IT services, and pharmaceuticals (2) medium in the investment space (3) high in the case of several low-quality companies. "As the broader market valuations are rich, opportunities arising from market correction can be used to add quality stocks (with attractive valuations) from a long-term investment perspective," explains the research firm's note. SAMCO further advises adding a little glitter to your portfolio using GoldBees and SilverBees ETFs since there are recessionary fears in the US and geopolitical tensions across the world. Even central bankers like RBI have been adding gold to their vaults like never before. At present, markets are looking to secure their return on capital rather than seeking a return on capital. "Thus all of these make a strong case to add gold and silver to the portfolio. They will give stability to your portfolio this Samvat," adds SAMCO's note.

Muhurat trading 2024: 5 stock picks you can consider this time around

<ul><li>Equity benchmark indices tumbled nearly 1.5% on Monday due to heavy selling in large stocks.</li><li><keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> and <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> recorded heavy selling.</li><li>The BSE <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> tumbled 1,272.07 points or 1.49% to settle at 84,299.78.</li></ul>Equity benchmark indices tumbled nearly 1.5% on Monday due to heavy selling in frontline stocks Reliance Industries, ICICI Bank and HDFC Bank amid rising geopolitical risks in the Middle East and weakness in Japanese markets. Besides, profit-taking after a record-breaking rally and foreign fund outflows added to the gloom, analysts said. The BSE Sensex tumbled 1,272.07 points or 1.49% to settle at 84,299.78. The NSE <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> tanked 368.10 points or 1.41% to 25,810.85. Among the 30 Sensex firms, Reliance Industries and Axis Bank declined over 3% each. ICICI Bank, Nestle, Tech Mahindra, Mahindra &amp; Mahindra, Maruti, Bajaj Finserv, State Bank of India and Tata Motors were the other major laggards. In contrast, JSW Steel, NTPC, Tata Steel, Titan and Asian Paints were the gainers. "Global markets turned topsy-turvy under the threat of rising geopolitical risk in the Middle-East and plausible increase in Yen interest rate which can reduce cross country investments in equity. On the contrary, the Chinese market had a resurgence due to a large stimulus package and cheap valuation. India also weakened under the global pressure and premium valuation while metals are expected to outperform in the near-term," said Vinod Nair, Head of Research, Geojit Financial Services. “The domestic benchmark indices opened negatively, aligning with weak Asian cues. Nifty started the day with a gap down, remained under pressure throughout the session, and ultimately closed on a negative note at 25,811. The volatility index, INDIA VIX, surged by 6.89%, settling at 12.79, indicating a rise in market volatility,” said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates. Japan's benchmark Nikkei 225 index tanked nearly 5% on Monday. The Shanghai Composite index surged 8% amid fresh stimulus measures announcement. European markets were trading lower. The US markets ended on a mixed note on Friday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,209.10 crore on Friday, according to exchange data. Global oil benchmark Brent crude declined 0.19% to USD 71.84 a barrel. The BSE benchmark Sensex declined 264.27 points or 0.31% to settle at 85,571.85 on Friday. During the day, it climbed 142.13 points or 0.16% to reach a new record intra-day peak of 85,978.25. The Nifty dipped 37.10 points or 0.14% to 26,178.95 after rising 61.3 points or 0.23% to an all-time intra-day peak of 26,277.35 during the session. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms">Upcoming cars launching in India in October 2024</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms">Upcoming smartphones launching in India in October 2024</a> <a href="https://www.businessinsider.in/stock-market/news/krn-heat-exchanger-ipo-allotment-check-allotment-status-gmp-listing-date-and-more/articleshow/113801258.cms">KRN Heat Exchanger IPO allotment – Check allotment status, GMP, listing date and more</a>

Sensex, Nifty tumble nearly 1.5% as bank stocks slump on weak Japanese markets

The Indian <keyword id="22196321" type="General" weightage="20" keywordseo="credit-card-industry" source="keywords">credit card industry</keyword> is struggling to grow, as new issues slow down on a year-on-year (YoY) basis. Not only has the growth i.e. issuance of new credit cards slowed down, but lenders are also becoming increasingly cautious of the asset qualities, a recent report by Nomura showed. From 19% in July 2024, the growth in the <keyword id="6368202" type="General" weightage="20" keywordseo="credit-card" source="Orion">credit card</keyword> spendings came down to 13% in August 2024. The year-to-date (YTD) growth has also significantly declined in FY25, currently standing at 17%, markedly down from 28% in FY24. For the fifth consecutive month, the number of new credit cards added to the system remained well below the 1-million, or 10 lakh mark. Around 9.2 lakh credit cards were added during the month, a slight uptick from the 7.55 lakh cards that came into the system In July 2024. However, there is growth in this space nevertheless, with about 10.55 crore active credit cards at present, marking a 15.6% YoY increase. Even the annualised spend per card, or the average amount spent via an annual card during an year grew 1% YoY to Rs 1.87 lakh. But this was far less than the 7% growth annual spends via one credit card saw in FY24. Meanwhile, what continues to burgeon consistently is the outstanding amount on these credit cards, which ballooned to Rs 2.7 lakh crore in June 2024, up from Rs 2.6 lakh crore in March 2024, and around Rs 2 lakh crore in the year ago period. To put this in perspective, pre-pandemic, the total outstanding amount stood at Rs 87,686 crore, which marks a 24% CAGR in this amount, in just a span of 5 years. <h2>Large drops, slowdown to sustain</h2>Even the monthly expenditure per card dropped 2% YoY to Rs 16,000 in August, 2024. Subsequently, the transaction volume via credit cards also dipped to 1.6% in August, along with the total amount of <keyword id="21084888" type="General" weightage="100" keywordseo="credit-card-spending" source="keywords">credit card spending</keyword>, which fell to Rs 1.69 lakh crore in August, from Rs 1.73 lakh crore in July. Also, there has been a hefty cutdown in provisions made for credit card reward points, which reflects in the quantum of credit card benefits that have been mowed out by companies of late, making credit cards far less lucrative than before. <h2>HDFC takes lead </h2>During August 2024, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC bank</keyword> added a total of 2.41 lakh credit cards, taking its total tally of active credit cards to 2.19 crore. <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> came a second distant, adding 1.45 lakh credit cards during the month, which means that the second-largest credit card issuer now holds over 1.75 crore active credit cards. Axis Bank and SBI Cards also added 1.27 lakh and 1.1 lakh cards, respectively to their repertoire during the month, while the growth numbers at Kotak Mahindra Bank remained largely flat, stagnating the bank's total card tally at 54.13 lakh. This was due to the ongoing ban on the bank due to its weak IT infrastructural issues imposed by RBI in April 2024. If anything, the bank's number of credit cards declined by 61,191 during the month. Even as the festive season approaches, experts think that it is unlikely to make a major dent in credit card spendings, which are expected to see a further slowdown in the quarters to come.

Credit card growth experiencing a slowdown, as borrowers struggle to pay back loans

The technology platform for providing "<keyword id="22918315" type="General" weightage="20" keywordseo="frictionless-credit" source="keywords">frictionless credit</keyword>" launched by the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (<keyword id="19899808" type="General" weightage="100" keywordseo="RBI" source="keywords">RBI</keyword>) last year as a pilot project will soon be introduced nationwide soon, said Reserve Banks of India Governor, <keyword id="19913110" type="General" weightage="20" keywordseo="shaktikanta-das" source="keywords">Shaktikanta Das</keyword> on Monday. This technology platform will be named "<keyword id="22918314" type="General" weightage="20" keywordseo="Unified-Lending-Interface" source="keywords">Unified Lending Interface</keyword> (ULI)", Das said while speaking in Bengaluru at the event of the Global Conference on Digital Public Infrastructure and Emerging Technologies. Governor Das said "Just like <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword> transformed the payments ecosystem, we expect that ULI will play a similar role in transforming the lending space in India. The 'new trinity' of JAM-UPI-ULI will be a revolutionary step forward in India's <keyword id="20018890" type="General" weightage="20" keywordseo="digital-infrastructure" source="keywords">digital infrastructure</keyword> journey." The ULI platform facilitates a seamless and consent-based flow of digital information, including even land records of various states, from multiple data service providers to lenders. The technology platform introduced last year as a pilot projects cuts down the time taken for credit appraisal, especially for small and rural borrowers. Das stated that the ULI architecture has common and standardised APIs, designed for a 'plug and play' approach to ensure digital access to information from diverse sources. "This reduces the complexity of multiple technical integrations. It enables borrowers to get the benefit of seamless delivery of credit, and quicker turnaround time without requiring extensive documentation. By digitising access to customer's financial and non-financial data that otherwise resided in disparate silos, ULI is expected to cater to large unmet demand for credit across various sectors, particularly for agricultural and MSME borrowers," the RBI governor stated. Showing confidence in the newly launched ULI, Das said, "Just like UPI transformed the payments ecosystem, "we expect that ULI will play a similar role in transforming the lending space in India." Speaking about the success of Unified Payment Interface (UPI) Das said, "The current ecosystem of digital payments in India offers a bouquet of simple, safe, and secure options for instant or quick transfer of funds, both large and small value, for businesses and individuals." Das further stated stated that the apex bank is consistently trying to secure the financial system in the country. "We are constantly working on devising policies, approaches, systems and platforms that will make our financial sector stronger, nimble and customer-centric," Das said. Additionally, Das also highlighted that the central bank is constantly working on devising policies, systems, and platforms that will make the financial sector stronger, nimble and customer-centric. Das said that over the last decade, the traditional banking system has undergone an unprecedented technological transformation. By all indications, this process is likely to become even more intense in the coming years, he said. On the country's experience in DPI, he said, "DPI has enabled India to achieve in less than a decade levels of financial inclusion that would have otherwise taken several decades or even more" He also emphasised that UPI system has the potential to evolve into a cheaper and quicker alternative to available channels of cross-border remittances. The Governor also stressed that financial institutions should be abundantly mindful of associated risks of Artificial Intelligence.

After UPI, RBI set to launch Unified Lending Interface (ULI) for friction-less credit

Both indices, <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> closed the day in red. While Sensex slipped around 692 points during the day to close at 78,956.03, Nifty dipped by 0.85% to close the day at 24,139.00, as on August 13th, 2o24. <keyword id="20007884" type="General" weightage="20" keywordseo="Titan" source="keywords" meta.keywordsubtype="org" meta.entityname="Titan" meta.hostid="261" meta.entityid="Titan">Titan</keyword> (up by 1.93%), Apollo Hospitals (up by 1.50%), Tata Consumers (up by 0.86%), Dr Reddy (up by 0.78%) and HCL Tech (up by 0.55%) were amidst the day's gainers. On the other hand, <keyword id="44555" type="General" weightage="20" keywordseo="BPCL" source="Orion">BPCL</keyword> (down by 3.54%), <keyword id="6357149" type="General" weightage="20" keywordseo="HDFC-Bank" source="Orion">HDFC Bank</keyword> (down by 3.26%), <keyword id="472962" type="General" weightage="20" keywordseo="HDFC-Life" source="Orion">HDFC Life</keyword> (down by 2.78%), Shri Ram Finance (down by 2.53%) and <keyword id="6354737" type="General" weightage="20" keywordseo="ONGC" source="Orion">ONGC</keyword> (down by 2.14%) were amongst the day's laggards. Out of the 2,813 stocks traded during the day, 757 saw advances, while 1,978 declined, and another 78 remained unchanged. 121 stocks hit their 52-week high price, while 31 stocks also hit their 52-week low prices. 92 stocks hit their upper circuit, or the maximum permissible trading price during a singular session, while 104 stocks remained in the lower circuit. Amidst broad market indices, Nifty Next 50, small cap 100, small cap 50, small cap 250 and micro cap 250 plunged by over 1% each in day's trade, while India VIX rose by 1.89%. Amidst sectoral indices, bank, financial services, metal, private banks, oil and gas and PSU banks closed the day in red, shedding over 1% each, while consumer durables gained over 1%, along with healthcare and IT, which also notched up marginal gains. Says Rajesh Bhosale, Equity Technical Analyst, Angel One, "Today, prices steadily declined throughout the session, and the sell-off intensified in the afternoon with no signs of a rebound. Eventually, Nifty ended down by 0.83%, a tad below the 24,150 mark". "Recent sessions have seen prices struggling around the 20-day EMA (Exponential Moving Average), and it now appears likely that prices will test the 50-day EMA support in the 24,040 - 24,000 range and potentially dip below the recent low of 23,900. With the upcoming weekly expiry for both Nifty and Bank Nifty, increased <keyword id="19908008" type="General" weightage="20" keywordseo="volatility" source="keywords">volatility</keyword> is expected. Traders should avoid complacency, keep positions light, and prepare for potential market fluctuations ahead of the mid-week holiday. Conversely, the 24,350 - 24,500 range remains a critical hurdle only beyond which the momentum would favor back for the bulls. Traders are advised to monitor these levels closely and adjust their strategies accordingly", he continued. Shrikant Chouhan, Head Equity Research, Kotak Securities is of the view that the intraday texture of the market is weak but 50 day SMA (Simple Moving Average) or 24,000/78,800 would be the trend decider level for the day traders. Above 24,000/78,800, we could see one pullback rally till 24,250-24,300 / 79,500-79,700. On the flip side, below 24,000/78,800 selling pressure is likely to accelerate. Below the same, the market could slip up to 23,850-23,775 / 78,500-78,100. Ajit Mishra – SVP, Research, Religare Broking Ltd highlights that the markets continued their downward trend today, losing nearly a percent as the correction phase persisted. Despite a flat start, the Nifty gradually declined, closing near the day's low at 24,140.70. "The pressure was primarily due to a drop in banking and financial heavyweights, while IT majors attempted to limit the losses. Broader indices also struggled, with declines ranging from 0.8% to 1.3%. Nifty is under pressure after failing to surpass the 20-day EMA resistance and appears poised to retest the 24,000 support zone. The decline in banking majors has disrupted the recovery, while other sectors are trading mixed. We recommend monitoring leveraged positions closely and waiting for clearer market signals", said Mishra.

Stock market closing: Nifty, Sensex close in red, Sensex dips over 650 points during the day

Both <keyword id="20204377" type="General" weightage="20" keywordseo="indices" source="keywords">indices</keyword>, <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> opened the day in red. While Nifty was down by 0.28% to trade at 24,461.7 points. Sensex was also down by 0.31%, <keyword id="20114014" type="General" weightage="20" keywordseo="trading" source="keywords">trading</keyword> at 80,353.25 as of 9:30 am. <keyword id="19963567" type="General" weightage="20" keywordseo="Ultratech-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="Ultratech Cement" meta.hostid="261" meta.entityid="Ultratech Cement">Ultratech Cement</keyword>, NTPC, BPCL, Infosys and Dr. Reddy were amongst the top gainers in early morning trade, while Wipro, <keyword id="19957746" type="General" weightage="20" keywordseo="Kotak-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Kotak Bank" meta.hostid="261" meta.entityid="Kotak Bank">Kotak Bank</keyword>, Reliance, Eicher Motors and Larsen and Toubro were amongst the leading laggards. Ahead of the <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">budget</keyword>, which is set to be presented tomorrow, all broad market indices opened the day in red, except for India VIX, a gauge for market volatility, which was up by 3.64% during early trade. Nifty microcap and small caps shed over 1% each on opening. As for sectoral indices, auto, realty, consumer durables and oil and gas were down 1% each in opening trade. Only FMCG managed to gain a week start and opened the week in green. Over the weekend, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> reported its Q1FY25 results. The bank's profit after tax (PAT) jumped to Rs 161.8 billion, up by 35.3% on YoY basis, while its advances for the quarter were Rs 24,635 billion, up by 52.5% YoY, but down by 0.9% quarterly. As for its deposits, at Rs 23,790 billion for the quarter, marked a 24.4% uptick YoY, but remained flat over quarters. The bank's net interest income (NII) stood at Rs 298.4 billion, up by 26.4% YoY. Even the bank's net non performing assets ratio (NPA) stood at 0.39% down 1 bps YoY, and up 6 bps QoQ. The share inched up by 0.78% to trade at Rs 1,619.8 in early trade. Kotak, which also reported its Q1FY25 results over the weekend, saw its PAT jump to Rs 6,250 crore, up 81% YoY. Its Net Interest Income (NII) for Q1FY25 increased to Rs 6,842 crore, up 10% YoY. Net Interest Margin (NIM) was 5.02% for April-June 2024. While total advances inched up 20% YoY to Rs 4,05,957 crore as at June 30, 2024, average total deposits grew to Rs 4,35,603 crore, up 21% YoY. During early trade today, the share was trading at Rs 1,756.25, down by 3.59%. Mr. Aditya Gaggar, Director of Progressive Shares notes that the candlestick pattern on the weekly and daily charts denotes weakness. An early indication from GIFT Nifty suggests the same, tepid opening of the Indian equities. A level of 24,200 will serve as strong support while the higher side is capped at 24,800, he said. "Range (52,100-52,750) breakout in Bank Nifty is necessary for a clear direction. On a sectoral front, a mixed view can be seen where we are recommending booking profits on the Auto segment while we are bullish on the FMCG and IT sectors. The Energy and Metal sectors are indicating weakness by forming a bearish engulfing candle and consolidation breakdown respectively. Weakness was seen in the Broader markets also as Mid and Smallcap space has formed a bearish divergence in RSI. Ahead of the Union Budget, we are suggesting to remain light on trading positions and to focus on risk management", he continued.

Stock market today: India VIX up by 3%, NTPC, BPCL take lead in early morning trade

Both indices, <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> saw a bloodbath on Friday, with Sensex dipping around 885.6 points to close at 80,981.95 points, while NSE dipped 1.17% to close at 24,717.70 points on August 2, 2024. <keyword id="20103302" type="General" weightage="20" keywordseo="Divis-Labs" source="keywords" meta.keywordsubtype="org" meta.entityname="Divis Labs" meta.hostid="261" meta.entityid="Divis Labs">Divis Labs</keyword> (up by 1.74%), <keyword id="6357149" type="General" weightage="20" keywordseo="HDFC-Bank" source="Orion">HDFC Bank</keyword> (up by 1.17%), Dr Reddy (up by 0.84%), <keyword id="44642" type="General" weightage="20" keywordseo="Sun-Pharma" source="Orion">Sun Pharma</keyword> (up by 0.80%) and Britannia (up by 0.63%) were amongst the top gainers during the day, while Eicher Motors (down by 5.15%), Tata Motors (down by 4.32%), <keyword id="6912" type="General" weightage="20" keywordseo="Maruti" source="Orion">Maruti</keyword> (down by 4.06%), <keyword id="45609" type="General" weightage="20" keywordseo="JSW-Steel" source="Orion">JSW Steel</keyword> (down by 3.91%) and Hindalco (down by 3.89%) were amongst the leading laggards during the day. Out of the 2,771 stocks traded during the day, 1,059 saw advances, while 1,630 saw declines, while another 82 remained unchanged. 152 stocks hit their 52-week high price and 32 stocks hit their 52-week low price as well. 108 stocks remained in the upper circuit during the day, while 81 stocks remained in the lower circuit, or hit their minimum permissible trading price during a singular trading session. Amidst broad market indices, Nifty next 50 was down by 1.30%, Nifty 100 was down by 1.10%, Nifty 200 dipped by 1.08%, Nifty 500 was down by 1.05% and midcap 50 was down by 1.43%. With the exception of India VIX, which rose 11.4% during the day, all other indices closed the day in red. As for sectoral indices, IT was down by 2.41%, metal was down by 2.70%, PSU banks were down by 1.72%, <keyword id="20304716" type="General" weightage="20" keywordseo="realty" source="keywords">realty</keyword> was down by 3.53% and oil and gas dipped by 1.24% during the day. Only healthcare and pharma indices closed the day in green. <h2>What are the experts saying?</h2>Ajit Mishra – SVP, Research, Religare Broking Ltd noted that today, the markets traded under pressure and lost over a percent due to weak global cues. After a gap-down start, Nifty fluctuated within a range and eventually closed near the day's low. Most sectors mirrored the benchmark's decline, with realty, auto, and metal being the top losers. The broader indices also fell, each losing over half a percent. "Nifty struggled to surpass the hurdle at 25,100, and Friday's close suggests a potential further dip toward the immediate support zone around the 20-day EMA around 24,500 level. Besides earnings, participants are also taking cues from the global front, particularly the US, which has been experiencing significant volatility recently. Given this scenario, it is advisable to limit overnight leveraged positions and opt for hedged trades", he continued. Amol Athawale, VP-Technical Research, Kotak securities explained that today, our markets followed the trend of world equity markets, which closed with a massive drop in the last few days. They were down due to weak economy-related data as well as disappointing quarterly numbers. However, our markets held up relatively better than world markets, which fell by over 1.50%. Weekly, Nifty fell by 0.40%, while Sensex was down by 300 points. "Realty, auto, and IT fell by over 2% weekly, while the Nifty pharma index was up nominally. We saw particular buying interest in new-age companies after Zomato's Q1 numbers. Technically, the market managed to climb to new highs during the week. Nifty and Sensex achieved major milestones by crossing 25000 on the Nifty and 82000 on the Sensex. However, currently, most stocks and indices are close to important resistance levels, and we may see consolidation for a few days or weeks", said Athawale. "On an immediate basis, the market is finding support between 24,600/80,900 and 24,500/80,600 levels. On the other hand, until the market crosses 25,100/82,200, we may see a range-bound movement in the market. The strategy should be to buy selective stocks between 24,600 and 24,500/80,900 and 80,600 levels. A close below 24,500/80,600 may take the market towards 24,250/79,900 or 24,100/79,500 levels. Any bounce towards 24,900-25,000/81,700-82000 levels will be an opportunity to reduce long positions", he continued.

Stock market closing: Sensex, Nifty close the week in red, Sensex tumbles over 800 points

Both indices, <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> closed the day in the green. While Nifty inched 0.24% past the 25,000 mark to close the day at 25,010.90, Sensex rose around 126 points to 81,867.55 points on August 1st, 2024. <keyword id="20030825" type="General" weightage="20" keywordseo="Power-Grid-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Power Grid Corporation" meta.hostid="261" meta.entityid="Power Grid Corporation">Power Grid Corporation</keyword> (up by 3.82%), <keyword id="19903245" type="General" weightage="20" keywordseo="Coal-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Coal India" meta.hostid="261" meta.entityid="Coal India">Coal India</keyword> (up by 3.47%), <keyword id="19923397" type="General" weightage="20" keywordseo="ONGC" source="keywords" meta.keywordsubtype="org" meta.entityname="ONGC" meta.hostid="261" meta.entityid="ONGC">ONGC</keyword> (up by 2.03%), <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> (up by 1.97%) and Dr. Reddy (up by 1.96%) were amongst the day's gainers, while Mahindra and Mahindra (down by 2.78%), <keyword id="19950204" type="General" weightage="20" keywordseo="Tata-Steel" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Steel" meta.hostid="261" meta.entityid="Tata Steel">Tata Steel</keyword> (down by 1.37%), <keyword id="20366589" type="General" weightage="20" keywordseo="Hero-Moto-Corp" source="keywords" meta.keywordsubtype="org" meta.entityname="Hero Moto Corp" meta.hostid="261" meta.entityid="Hero Moto Corp">Hero Moto Corp</keyword> (down by 1.35%), Britannia (down by 1.32%) and Tata Motors (down by 1.21%) were amongst the day's top losers. Out of the 2,800 stocks traded during the day, 1,008 stocks saw advances, while 1,725 stocks saw declines, and another 67 stocks remained unchanged. 209 stocks touched their 52-week high price, and 27 stocks touched their 52-week low. 120 stocks hit the upper circuit during the day, while 93 stocks remained in the lower circuit. With the exception of Nifty 50 and 100, all other broad based indices closed the day in red. India VIX dipped by 2.41%, while small cap 50 plunged by 1.03%. As for sectoral indices, media (down by 1.89%) and realty (down by 1.70%) saw the maximum dips, while bank, FMCG, financial services ,oil and gas, healthcare and pharma closed the day in green. Aditya Gaggar, director of Progressive Shares says that Indian bourses began the August month on a strong note above the psychological barrier of 25,000. "But, negative divergence in RSI pulled the Index lower to settle the trade at 25,010.90 with gains of 59.75 points. Among the sectors, Energy was the top gainer while media and realty corrected the most. Broader markets underperformed the frontline index as mid and small caps corrected by 0.85% &amp; 0.98% respectively. The Index has formed a Spinning Top candlestick pattern which represents indecisiveness where the downside seems to be protected at 24,930 while the immediate resistance is placed at 25,100", he continued.

Stock market closing: Nifty inches past 25,000-mark, Tata Steel, Hero Moto Corp amidst day's leading laggards

Both <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> closed the day in green, with Sensex also crossing the 80,000 mark for the first time. While Nifty closed at 24,286.50 points, up by 0.67%, Sensex closed at 79,986.80 points, having inched up by 0.69%. As for broad market indices, all of them, except India VIX closed the day in green. While VIX ended the day 3.18% down, Nifty next 50 gained 1.08%, and Nifty small cap 100 added 1.03%. As for sectoral indices, <keyword id="722345" type="General" weightage="20" keywordseo="Nifty-Bank" source="Orion">Nifty Bank</keyword> was up by 1.77%, and financial services was up by 1.80%. PSUs jumped up 1.06%, while private banks inched up by 2.02%. <keyword id="6354777" type="General" weightage="20" keywordseo="Media" source="Orion">Media</keyword> was down by 0.39%, and metal jumped by 1.06 to end the day in green. During the day, Tata Consumers (up by 3.55%) and <keyword id="895682" type="General" weightage="20" keywordseo="Adani-Ports" source="Orion">Adani Ports</keyword> (up by 2.39%) took the lead, but it was private banks who led the top gainers rally during the day, with <keyword id="19991962" type="General" weightage="20" keywordseo="Kotak" source="keywords">Kotak</keyword> bank up by 2.23%, <keyword id="19896378" type="General" weightage="20" keywordseo="HDFC" source="keywords">HDFC</keyword> bank up by 2.14% and Axis bank rising up 1.82%. On the other hand, TCS lost 1.23%, Titan lost 1.11%, Reliance shed 0.68%, Tata Motors lost 0.41% and Hindalco lost 0.40%, making them amongst the top losers of the day. Out of the 2,797 stocks traded during the day, 1,745 saw advances, while 970 saw declines. 215 stocks hit their 52-week high price, while 16 stocks hit their 52-week low. Around 201 stocks hit the upper circuit during the day's trade, while 44 hit the lower circuit. Geojit financial service's share rallied 4.02% to end day at Rs 100.37, after it registered a sharp fall yesterday, following SEBIs orders on uniform charging, and not taking trading volume into play. The firm reported that during FY 23-24, approximately Rs.40 lakhs, which was the difference between the amount recovered from clients and the charges paid to Exchange, had been recorded as income for the year. However, this amount constitutes 0.067% of the total income and 0.22% of profit before tax for FY 23-24. <h2>Experts advise caution as Sensex hits 80,000</h2>According to Mr. Aditya Gaggar, director of Progressive Shares, "Indian bourses commenced the session on a strong note at a fresh high of 24,290 but due to lack of follow-through, the Index oscillated in a well-maintained range to end the session at 24,286.50 with gains of 162.65 points. Barring media, all other sectors ended the day in green with Bank Nifty being the top performer followed by metal and PSU Banks. Broader markets outperformed the frontline index as mid and smallcap gained by 0.79% &amp; 1.03% respectively". Shrikant Chouhan, Head Equity Research, Kotak Securities noted that today, the benchmark indices registered a fresh all time high of 24,309/80,074. The Nifty ends 162 points higher while the Sensex was up by 545 points. Almost all the major sectoral indices were traded in to the positive territory but private bank index outperformed rallied over 2 percent. Technically, after a gap up opening market comfortably trading above 24,200/79,600 resistance level which is largely positive. "In addition, on intraday charts it is holding higher high and higher low formation, which supports further uptrend from the current levels. We are of the view that, as long as the index is trading above 24200/79600 the bullish structure is likely to continue". Arvinder Singh Nanda, Senior Vice President of Master Capital Services noted that BSE Sensex today touched the 80,000 mark for the first time, setting a new all-time high. "This milestone comes after the index added the last 10,000 points in under seven months, having first hit 70,000 on December 11, 2023". But while the long-term outlook remains positive, he advised caution at current levels.

Stock market closing: Sensex crosses 80k, Kotak, HDFC and ICICI bank lead the rally

Both indices, <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword>, closed the day in red. While Nifty was down by 0.27% and closed at 24,413.50, Sensex also dipped over 200 points and closed at 80,148.88 points on July 24th, 2024. <keyword id="20079495" type="General" weightage="20" keywordseo="HDFC-Life" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Life" meta.hostid="261" meta.entityid="HDFC Life">HDFC Life</keyword> (up by 4.36%), <keyword id="19924892" type="General" weightage="20" keywordseo="Tech-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Tech Mahindra" meta.hostid="261" meta.entityid="Tech Mahindra">Tech Mahindra</keyword> (up by 3.12%), <keyword id="19908646" type="General" weightage="20" keywordseo="BPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="BPCL" meta.hostid="261" meta.entityid="BPCL">BPCL</keyword> (up by 2.91%), <keyword id="19903558" type="General" weightage="20" keywordseo="NTPC" source="keywords" meta.keywordsubtype="org" meta.entityname="NTPC" meta.hostid="261" meta.entityid="NTPC">NTPC</keyword> (up by 2.67%) and <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> (up by 2.46%) were amongst the top gainers of the day. On the other hand, Bajaj Finserv (down by 2.09%), Tata Consumers (down by 1.90%), Britannia (down by 1.88%), Axis Bank (down by 1.82%) and Bajaj Finance (down by 1.67%) were amongst the leading laggards. Bajaj Finance reported its Q1FY25 results recently. While its profits rose 14% YoY to Rs 3,912 crore, the firm's net interest income also reported a 25% jump. However, the stock was trading at Rs 6,614.90, down by over 1% today. The company's loan losses and provisions during April-June 2024 period jumped to Rs 1,685 crore, as opposed to Rs 995 crore during April-June 2023. Most midcap and small cap indices registered significant growth today. Mid cap 100 was up by 1.04%, small cap 100 was up by 1.76%. However, India VIX dipped by as much as 7.72%. Small cap 50 (up by 1.74%), small cap 250 (up by 1.86%) and microcaps (up by 2.68%) also saw healthy leads during the day. As for sectoral indices, consumer durables and oil and gas were up by over 1%, while media gained over 2% during the day. Auto, bank, <keyword id="19931572" type="General" weightage="20" keywordseo="fmcg" source="keywords">FMCG</keyword>, PSU and private banks closed the day in red. Mr. Aditya Gaggar Director of Progressive Shares noted that a mixed trend was seen in the markets where mid and smallcap segments were seen compounding their morning gains while Bank Nifty-led correction dragged the index lower to end the session at 24,413.50 with a loss of 65.55 points. "Media was the top gainer among the sectors followed by energy while profit-booking-led correction was seen in the FMCG segment. On the daily chart, the index has formed a spinning top candlestick pattern indicating indecisiveness between the bulls and bears. The level of 24,200 will remains a crucial support while 24,560 is considered as an immediate resistance", Gaggar continued. Out of the 2,770 stocks traded during the day, 1,992 stocks saw advances, while 700 declined, and 78 others remained unchanged. 130 stocks hit their 52-week high during the day, while 14 stocks hit their 52-week low price. 210 stocks hit the upper circuit, or maximum permissible trading price during a singular trading session, while 46 stocks hit the lower circuit, or the minimum permissible price allowed during one trading session.

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