Sensex
Markets recover in early trade after Tuesday's sharp decline
Following a severe loss on Tuesday, the 30-share BSE Sensex made a remarkable recovery, rising 948.83 points to 73,027.88 in early trade. To reach 22,131.60, the NSE Nifty increased by 247.1 points.
Adani Ports Set to Join Sensex Following BSE Reshuffle on June 24
Reviewing the market performance, the shares of Adani Ports and Special Economic Zone were down 1.83 per cent on Friday, closing at Rs 1,416.90 a piece. An interesting update from IIFL Alternative Research earlier this week suggested a possibility of Adani Enterprises replacing Wipro in the benchmark Sensex.
Sensex Surges 253 Points Following Strong Q4 Earnings Performance
Broad market indices, however, outshone the benchmarks. The Nifty Midcap 100 Index jumped 451 points or 0.88% to 51,604 points, while the Nifty Smallcap 100 Index gained 274 points or 1.65% to 16,870 points.
PhonePe Facilitates UPI Payments for Travelers to Sri Lanka in Collaboration with LankaPay
The transaction will be denominated in Indian Rupees (INR), with applicable currency exchange rates applied.
Record-Breaking Surge: Sensex Hits Historic 75,000-Mark, Nifty Peaks to New Heights
The surge in the IT sector stocks notably fueled the market's ascent in the initial trading session. Among the 30 stocks constituting the BSE Sensex, prominent gainers included Infosys, Tech Mahindra, Tata Consultancy Services, HCL Technologies, Tata Motors, Wipro, ICICI Bank, and Nestle.
RBI Approves Third-Party UPI Apps for Transactions via PPI Wallets
Previously, UPI payments from PPIs were restricted to the respective web or mobile applications provided by the PPI issuers. However, with the introduction of third-party UPI apps, users can now enjoy enhanced convenience and accessibility in making payments. This strategic move is expected to catalyze the proliferation of digital payments across the economy, streamlining the transaction process for individuals and businesses alike.
Report Reveals 56% Surge in UPI Transaction Volume, Alongside 8% Drop in Average Ticket Size
Among the UPI app players, PhonePe, Google Pay, and Paytm emerged as the prominent contenders in terms of both volume and value. By December 2023, these three apps collectively represented a substantial share of 95.4 percent in transaction volume, a slight increase from 94.8 percent in December 2022.
500 Stocks Surpass $1 Billion Market Cap Mark, Nearly Doubling Since 2019
Jefferies emphasizes India's standout performance among major emerging market economies, consistently delivering annualized returns exceeding 10% across 5-year, 10-year, 15-year, and 20-year periods. This sustained performance is attributed to India's participation in a multi-year cyclical uptrend. Despite India's growing weightage in the MSCI Emerging Markets index, foreign investors have yet to mirror this increase in their equity exposure, resulting in India's equities being the most under-owned by global emerging market funds since 2014. However, the report anticipates a shift in this trend in the near future.
India-UAE Collaboration: UPI RuPay Card Launched in Abu Dhabi by PM Modi and President Sheikh Mohamed bin Zayed Al Nahyan
President Nahyan initiated the service by swiping a card personalized with his name, symbolizing the commencement of this innovative financial service in the capital.
PM Modi Hails Launch of UPI Payment Services in Sri Lanka and Mauritius as Landmark Occasion
During a virtual ceremony attended by Prime Minister Modi, Mauritian Prime Minister Pravind Jugnauth, and Sri Lankan President Ranil Wickremesinghe, India's RuPay card services were also introduced in Mauritius.
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