The highest domestic package, however, fell 10 per cent
Positive cues from the global market front aided the rally.
In April, RBI had to issue a warning about a mobile application.
Most adult Indians should have access to bank deposits, credit and remittance facilities as well as insurance and mutual fund products in the next decade, and technology will play a big role in this transformation, says Tamal Bandyopadhyay.
Sectorally, bankex suffered the most by dropping 2.62 per cent, followed by finance 2.44 per cent and realty 1.63 per cent. On the other hand, telecom was among the top sectoral gainers, rising 4.60 per cent. IT index rose 2.62 per cent.
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
At the BSE, 1,879 companies declined, while 685 advanced and 131 remained unchanged.
Other gainers included Kotak Bank, HCL Tech, ONGC, Asian Paints, Vedanta, HDFC Bank, Bajaj Finance, Maruti and TCS, gaining up to 1.41 per cent. Sun Pharma was the top loser, cracking 8.58 per cent.
At 12:25 PM, the barometer index, the S&P BSE Sensex was down 358 points or 1.3% at 26,368.
It's not e-retailers alone. Bankers are also celebrating initiatives like 'Big Billion Day Sale' this festive season.
'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
Fear factors weights on markets, Sensex, Nifty struggle to keep pace.
'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
Major gainers which contributed to the Nifty were ICICI Bank, State Bank of India, Reliance Industries, ONGC, Tata Consultancy Services, Infosys, Bajaj Auto, Tata Power and Larsen and Toubro.
Kotak Bank was the top gainer in the Sensex pack, ending 4.31 per cent higher. PowerGrid, TCS, ICICI Bank, SBI, HCL Tech, NTPC, Infosys, Bajaj Finance, HDFC duo, ONGC, Vedanta and IndusInd Bank too rose up to 2.84 per cent.
The winter session of Parliament will commence on November 26.
Financials declined amid profit taking while energy shares fell after the government hiked excise duty on transport fuels.
Gains were led by HUL on better-than-expected margins in March quarter and capital goods shares.
Strong gains in Vedanta Ltd, Adani Ports, Bharti Airtel and Maruti Suzuki helped the index touch record levels.
Sensex climbs higher at close, bluechip stocks in focus.
The 30-share index surged 499.79 points or 1.84 per cent to settle at 27,626.69.
Cheque payments will be safer; the limit for contactless card transactions hiked.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
It is to keep labour unions away and make the employees feel important.
The broader markets are trading inline with the larger peers with BSE Midcap and Smallcap indices up 1.5% each.
The broader markets are outperforming the benchmark indices.
Broader market underperformed the headline indices with BSE Midcap and BSE Smallcap finishing in red
SBI's Bhattacharya is ranked second on the list, while ICICI's Kochhar is 5th and Axis's Sharma is 19th in the Fortune list
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
For state-run lenders, the average NPAs shot up to 14.5 per cent, with IDBI Bank, UCO Bank and Indian Overseas Bank having their NPAs at above 25 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Sensex climbs higher on favourable global cues.
Tesla Inc chief Elon Musk is set to acquire micro-blogging site Twitter for about $44 billion. Back home, India Inc, too, is seeing aggressive merger and acquisition (M&A) activity with PVR-Inox and HDFC-HDFC Bank announcing their mergers recently. While Axis Bank recently acquired Citi India's India retail business, reports suggest Larsen & Toubro Infotech (LTI) and Mindtree could be eyeing a merger.
Maharashtra Chief Minister Devendra Fadnavis' wife Amruta Fadnavis has debuted as playback singer for the movie 'Jai Gangaajal' starring Priyanka Chopra.
The 30-share Sensex ended down 159 points at 27,425 and the 50-share Nifty closed down 24 points at 8,299.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Strengthening of rules governing insider trading is among the key proposals in the agenda set by Sebi for 2018-19, along with making improvement to the Prohibition of Insider Trading Regulations (PIT) and Prohibition of Fraudulent and Unfair Trade Practices regulations.
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