Indian equity investors had a reason to cheer today as the markets snapped their losing streak and ended positive. The Nifty ended 217 points (0.88%) up and closed at 25,013. Trent which closed 7.95% up, was Nifty’s top gainer, followed by BEL (4.83%) up and Adani Enterprises (4,73%). SBI Life was the top loser and was down 3.35%.
Meanwhile, the Sensex gained 584 points and closed at 81,634. BSE was another buzzing stock as it soared 10% up to close at 4242.
Shares of One 97 Communications, Paytm’s parent company, closed 15% up at 750. The stock has gained significantly after making a yearly low of 310 in May 2024. It’s still far away from its all-time-high of 1955. The company today announced that it has launched a BSE futures and options (BSE F&O) trading service on its platform. The statement read, “With trading charges kept at an affordable Rs 20 per trade order, along with applicable taxes, the platform remains one of the most cost-effective choices for retail investors in India.” It can be recalled that the Reserve Bank of India (RBI) announced restrictions on Paytm Payments Bank's operations last year due to persistent non-compliance. Then in August this year, Paytm sold its entertainment ticketing business to online food aggregator Zomato for Rs 2,048 crore.
The last few days were dominated by the bears and saw Nifty plunge to 24,694 on Monday. It’s all time high is 26,277. RBI’s policy which is scheduled for tomorrow, can act as an important trigger for the market.
