- UPI Goes Global: Qatar Becomes 8th Country to Adopt India’s Digital Payment System Qatar National Bank integrated UPI for seamless QR-based payments, boosting fintech and payment gateway stocks like NPCI partners as India’s digital ecosystem expands internationally.
2. Defence Boost: HAL Bags ₹62,370 Cr Contract for 97 LCA Mk1A Jets The Ministry of Defence signed a landmark deal with Hindustan Aeronautics Limited (HAL) for 97 advanced Light Combat Aircraft Mk1A, sparking a surge in defence stocks amid expectations of enhanced orders and production ramp-up.
3. Market Meltdown: Nifty Dips 0.66% to 24,890; Sensex Sheds 556 Points Indian benchmarks extended losses for the fifth straight session, closing at multi-week lows due to FII outflows and US H-1B visa fee hikes weighing on IT sentiment.
4. Banking Resilience: Nifty Bank Edges Up 0.26% Amid Broader Sell-Off Despite overall market weakness, the banking index closed marginally higher at 54,976, led by gains in Axis Bank and select PSUs, signaling sector rotation into financials.
5. Top Losers Steal Spotlight: Trent Slumps 3.15%, Power Grid Down 3.03% Retail and power stocks dragged indices lower, with Trent hit by profit-booking post-earnings and Power Grid pressured by regulatory overhangs.
6. Defence Rally: BEL Emerges Top Nifty Gainer with 1.95% Jump Bharat Electronics led gains amid the HAL contract buzz, reflecting renewed investor appetite for defence plays as government spending accelerates.
7. Promoter Stake Sale: Akzo Nobel India Discloses 5% Equity Divestment Imperial Chemical Industries offloaded over 22 lakh shares via block deal, triggering disclosures under SEBI takeover norms and mild selling in paints sector.
8. Broader Indices Mirror Decline: Midcap & Smallcap Fall 0.64% and 0.57% Nifty Midcap 100 slipped to 57,556 while Smallcap 100 hit 17,967, as high valuations and global cues prompted caution in smaller caps.
9. Sector Woes: Realty, IT, and Pharma Lead Decliners Nifty Realty tanked over 2% on rate hike fears, while IT and pharma lagged due to US policy risks and earnings anticipation.
10. Expiry Blues: Nifty Logs Longest Losing Streak Since March Weekly options expiry amplified volatility, with Nifty’s four-day skid erasing recent gains and spotlighting overbought conditions ahead of Fed cues.
