Fintech Frame

 European Stocks Decline; Powell's Testimony, PMI Data Weigh Investing.com - Due to growing concerns of a worldwide recession following the Federal Reserve's aggressive interest rate hikes, risk sentiment was shaky Thursday, which contributed to a decline in European stock markets. The CAC 40 in France plummeted 1.5 percent, the FTSE 100 in the UK declined 0.9 percent, and the DAX in Germany traded 1.6 percent lower by 03:55 AM ET (0755 GMT). The two largest economies in the Eurozone, France and Germany, had a steep decline in business activity at the end of the second quarter, according to data released on Thursday, fueling worries about a regional economic downturn. The flash purchasing manager index for France's major services sector dropped to a five-month low in June from 58.3 points in May while the manufacturing sector's flash PMI index fell to 51.0 points, the lowest level in 19 months. In Germany, the flash PMI for services declined from 55.0 in May to 52.4 in ...

  Buy these stocks, according to Sanjiv Bhasin, for good returns in the near future: Grasim Industries Ltd. and GNFC Stocks to buy: IIFL Securities Director Sanjeev Bhasin, a market analyst, advised on Wednesday that those who purchased Bank Nifty yesterday at a price of Rs 15,430 should do so again today at a price of Rs 15570. He added that companies such as Tata Motors, Indian Hotels, L&T, Motherson Sumi, and Info Edge (Naukri) are outperforming. Equities to buy: IIFL Securities Director Sanjeev Bhasin, a market analyst, stated on Wednesday that practically all stocks are under pressure in the present market, but it is crucial that investors have a long-term perspective. Bhasin stated that those who purchased Bank Nifty yesterday at a price of Rs 15,430 should book it today at a price of Rs 15570. He added that companies such as Tata Motors, Indian Hotels, L&T, Motherson Sumi, and Info Edge (Naukri) are outperforming. In the well-known television programme "Bhasin Ke Ha...

 Gains of 8% on the purchase of a new production site for Greenlam Industries New Delhi: Shares of Greenlam Industries NSE 1.96 percent increased by more than 8% on Thursday after the business paid Rs 36 crore to purchase a laminate manufacturing facility from Gujarat-based Bloom Dekor. Greenlam presently has four laminate manufacturing sites in India, one each in the states of Rajasthan's Behror, Himachal Pradesh's Nalagarh, and Andhra Pradesh's Naidupeta, as well as the recently purchased unit in Gujarat's Prantij. The Gujarat facility was acquired, increasing the total production capacity of Greenlam laminates to 24.52 million sheets. By penetrating mass market sectors and extending into semi-urban and rural locations, the Gujarat plant will enable Greenlam to increase the market scope of its goods. Given that the facility is located in Gujarat, which houses raw materials and is close to ports, it has a demographic advantage because logistics are less expensive and t...

Top 10 things to know before the market opens today for stocks  The larger Indian index is expected to open down 40 points, according to trends in the Singapore Exchange Nifty. Today's Stock Market: According to trends in the SGX Nifty, the Indian market will likely open with a loss of 40 points, down from yesterday's close. The Nifty50 increased 289 points or 1.88 percent to 15,639 and produced a bullish candle on the daily charts after two sessions of Doji candles on the BSE Sensex, which increased by 934 points or 1.8 percent to 52,532. The pivot charts show that 15,470, followed by 15,301, is the critical support level for the Nifty. The important resistance levels to watch out for on an upward movement of the index are 15,757 and 15,876. To find out what occurs in the currency and equity markets today, keep an eye on Moneycontrol. We have compiled a collection of significant headlines from various news sources that may have an influence on both Indian and global markets: U...

 Will the most recent RBI circular destroy the Indian fintech cards and credit industry? 1. Prepaid payment instruments cannot be loaded with credit lines, the RBI allegedly stated in a notification sent to PPIs issued by non-banks. 2. Analysts claim that the RBI is attempting to eliminate any regulatory advantages that a wallet or non-bank PPI may have over a bank. 3. The announcement raises concerns about several of these businesses' business models and poses a threat to their existence while fintech players wait for clarification from the central bank. The PPI-MD (Prepaid Payment Instruments-Master Directions) RBI announcement from June 20th, which forbids loading non-bank PPIs from credit lines, has the fintech ecosystem up at night. The impact of the notification is the subject of a Twitter discussion among users at the same time. On the RBI website, there isn't yet an official release, though. To determine the effects of the notification, Inc42 attempted to contact ...