Markets Fall Amid Crude Surge, NPCI Holds UPI Fee Meet, RBI Files Caveat On Tata Sons Listing
Indian equity benchmarks reversed early gains to trade sharply lower as elevated crude oil prices and rising global bond yields weighed on market sentiment. The Nifty slipped below the 23,200 mark while the Sensex registered steep losses, with real estate and metal stocks leading the downturn even as select information technology shares bucked the trend. Meanwhile, the National Payments Corporation of India held discussions regarding Merchant Discount Rate charges on merchant UPI transactions above 2,000 rupees following a Finance Ministry notification. In the corporate domain, the Reserve Bank of India filed a caveat in the Bombay High Court ahead of an anticipated appeal by Tata Sons seeking exemption from mandatory listing norms, triggering a rally in several Tata Group shares including Tata Chemicals and Tata Investment Corporation. The bulletin also examined market trends, crude oil volatility, and the upcoming National Stock Exchange initial public offering.
