Nifty trades above 23,200 level; PSU Bank shares rally

The key equity benchmarks traded with moderate gains in morning trade, tracking positive cues from Asian markets as the recent rally in crude oil prices paused. Investors remained cautious ahead of the US Federal Reserve?s policy meeting later today. The Nifty traded above the 23,200 level, indicating some recovery in market sentiment.

PSU bank shares advanced after declining for two consecutive trading sessions, supported by buying interest across select counters.

At 10:25 IST, the barometer index, the S&P BSE Sense advanced 333.66 points or 0.45% to 74,337.48. The Nifty 50 index rose 105.70 points or 0.47% to 23,226.30.

In the broader market, the BSE 150 MidCap Index fell 0.48% and the BSE 250 SmallCap Index declined 1.02%.

The market breadth was weak. On the BSE, 1,229 shares rose and 2,563 shares fell. A total of 277 shares were unchanged.

Economy:

India's Unified Payments Interface (UPI) will roll out a targeted Merchant Discount Rate (MDR) regime effective 15 October 2026, ending a years-long blanket zero-MDR policy to build a self-sustaining funding base for network infrastructure, cybersecurity, and platform scalability.

Under the new guidelines notified by the National Payments Corporation of India (NPCI) and the Reserve Bank of India, a standard 0.4% MDR?capped at Rs 300 for high-ticket purchases?will apply strictly to commercial person-to-merchant (P2M) payments above Rs 2,000, while essential utilities and fuel will draw a flat Rs 5 fee and capital market transfers are levied at 0.02%. Retail consumers and individual peer-to-peer (P2P) transfers remain entirely insulated from charges, as do small merchants processing under Rs 1 lakh a month and all transactions up to Rs 2,000, which together account for over 95% of daily UPI transaction volumes.

The current account deficit for April-July 2026 stood at $11.2 billion, compared with $6.6 billion in the corresponding period a year earlier. The widening gap came as merchandise imports rose faster than exports, pushing the goods trade deficit to $117.8 billion during the first four months of the financial year, from $97.1 billion a year earlier. Net services stood at $ 69.3 billion compared with $64.3 billion in April ? July 2025.

New Listings:

Shares of Kanohar Electricals were currently trading at Rs 702.65 at 10:05 IST on the BSE, representing a premium of 15.29% as compared with the issue price of Rs 632.

The stock debuted at Rs 672.05 on the BSE, a premium of 6.34% over its issue price.

So far, the stock has hit a high of Rs 783.95 and a low of Rs 672.05. On the BSE, over 7.45 lakh shares of the company were traded in the counter so far.

Shares of Glass Wall Systems (India) were currently trading at Rs 204.70 at 10:15 IST on the BSE, representing a premium of 12.47% as compared with the issue price of Rs 182.

The stock debuted at Rs 190.10 on the BSE, a premium of 4.45% over its issue price.

So far, the stock has hit a high of Rs 204.90 and a low of Rs 185.05. On the BSE, over 13.21 lakh shares of the company were traded in the counter so far.

Shares of Prasol Chemicals were currently trading at Rs 623.25 at 10:25 IST on the BSE, representing a discount of 7.80% as compared with the issue price of Rs 676.

The stock debuted at Rs 611 on the BSE, a discount of 9.62% over its issue price.

So far, the stock has hit a high of Rs 600.50 and a low of Rs 630.52. On the BSE, over 1.57 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty PSU Bank index rose 0.58% to 8,206.15. The index declined 2.90% in the two consecutive trading sessions.

State Bank of India (up 1.24%), Union Bank of India (up 0.72%), Punjab National Bank (up 0.62%), Indian Bank (up 0.52%), Bank of Baroda (up 0.27%), UCO Bank (up 0.13%), Canara Bank (up 0.11%), Bank of India (up 0.09%) and Bank of Maharashtra (up 0.08%) advanced.

Powered by Capital Market - Live News