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Asian stocks traded mixed on Friday amid weak economic conditions.

The Nikkei Stock Average was down 0.5%, and the Hang Seng Index was down 1.3%.

The benchmark S&P 500 index managed to rise slightly on Thursday after briefly reaching the 5,000-point milestone as investors reacted to earnings reports, a roughly even employment report and policy makers’ comments about lowering interest rates.

Below is a table showing the performance of US stocks on Thursday.

Currently, BSE Sensex is trading 57 points higher and NSE Nifty 5 points lower.

Apollo Hospitals, TCS and Titan are among the top gainers today.

On the other hand, BPCL, ONGC and UPL are today’s top losers.

Broad markets are declining. The BSE Midcap index was trading 1% lower and the BSE Smallcap index was trading 1.3% lower.

Apart from the consumer durables sector, other sectoral indexes have declined, with selling pressure on socks in the metals, oil and gas, and telecom sectors.

The rupee was trading at 83.01 rupees against the US dollar.

In the commodity market, gold prices are currently trading flat at Rs 62,430 per 10 grams.

Meanwhile, silver prices were trading 0.1% higher at Rs 70,950 per kg.

Track the biggest moves in the stock market with our Today’s Rising Stocks section. This will help you stay up to date with the latest developments…

Speaking of the stock market, it wasn’t just small-cap stocks that outperformed in 2023.

Stocks in the defense, rail and electric vehicle sectors also gained attention.

Whenever the government ordered additional spending, stock prices in the largest public sector sectors, such as defense and railways, rose significantly.

However, there were also many private sector companies in the defense ecosystem that were valued at premium prices.

The EV sector will become a popular stock market stock in 2023.

You may be wondering what happens after such high profits.

Will the star of 2023 continue to shine in 2024? Or should you consider another potential wealth creator?

Research analyst Tanushree Banerjee answers this in the video below.

IRCTC signs Delhi Metro MoU

The Indian Railway Catering and Tourism Corporation (IRCTC) on Monday signed a Memorandum of Understanding (MoU) with the Delhi Metro Rail Corporation (DMRC) to provide QR code-based DMRC tickets through the IRCTC platform.

A press release said this initiative will benefit both IRCTC and DMRC passengers by streamlining their travel experience and reducing the time spent in queues at stations.

IRCTC’s standalone net profit for the first quarter of the current financial year (Q1FY24) declined by 5.4% to Rs 2.3 billion compared to Rs 2.5 billion in the year-ago period.

Total revenue for Q1FY24 stood at Rs 10.4 billion, an increase of 18.7% compared to the same period last year (YoY) of Rs 8.8 billion.

Revealed: An indirect path to the opportunity to ride an EV

DMRC last week announced an initiative called ‘CarbonLite Metro Travel’ to educate passengers about the significant contribution they are making in reducing carbon emissions by choosing metros instead of road cars.

Passengers will be able to see on average how much carbon dioxide (CO2) emissions they are reducing by using the subway during their journey.

In line with India’s goal of achieving net-zero emissions by 2070, this initiative emphasizes that each citizen, through their transportation choices, plays a key role in addressing the pressing issue of climate change. It is intended to.

As railway stocks are gaining momentum, IRCTC stock is also rising at a rapid pace. For more information, read “Why IRCTC stock price is rising.”

IRCTC is one of Warren Buffett’s favorite types of companies: those with large economic moats that have a near-monopoly in the industry in which they operate. For top exclusive stocks, check out Top 5 Exclusive Stocks to Watch in 2024.

Paytm to acquire ONDC Startup

The fintech giant is finalizing a deal to acquire interoperable e-commerce startup Bitsila, according to sources, as the regulatory crisis puts the future of Paytm’s payments business in doubt. That’s what it means.

Bengaluru-based Bitsila is currently the third largest seller-side platform for transactions on the Open Network for Digital Commerce (ONDC).

The deal is in advanced stages and is likely to close within the next week, two people familiar with the matter said.

Founded in 2020 by Dasharatam Bitla and Surya Pokkali, Bitsira has previously raised pre-seed funding from Antler India and Redbus founder Phanindra Sama.

The company’s role as a merchant-side app in ONDC is B2B, as it helps small merchants join the network.

Paytm is already ONDC’s buyer app and is one of the first large companies to integrate into the open network in 2022. The acquisition of Bitsila will allow Paytm to further deepen its reach within ONDC by joining the seller side of the network. good.

The move comes as Paytm is under scrutiny by the Reserve Bank of India for various reasons ranging from foreign exchange violations to Know Your Customer (KYC) lapses.

According to reports, regulators found serious irregularities in KYC, putting customers, depositors and wallet holders at serious risk. In its investigation, RBI found that in thousands of cases, the same PAN was linked to more than 100 of his customers and in some cases he was linked to more than 1,000 customers. did.

The total amount of transactions amounted to billions of rupees, far exceeding regulatory limits for minimum KYC prepaid instruments, raising concerns of money laundering.

Has the recent correction made the stock attractive from a long-term perspective, or is there more pain ahead? For the answer, see Paytm: A Value Buy or a Value Trap? Please refer to the.

To know what’s moving the Indian stock market today, check out the latest stock market updates here.

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