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Stock Watch — March 26, 2026 Market Day Summary | Not investment advice ⚠️ Market Holiday Today — NSE/BSE closed for Ram Navami. Trading resumes Friday, March 27. 📊 INDICES — Last Trading Day (March 25, 2026) Index Prev Close Change % Change Nifty 50 23,306.45 +394.05 +1.72% Nifty Bank 53,708.10 +1,102.45 +2.10% FinNifty ~24,500 +500 +2.0% Nifty IT ~41,000 -500 -1.2% 🏦 BANKS — Digital Payments Focus Bank Symbol Prev Close Change % Key Levels Expectation HDFC Bank HDFCBANK ₹782.30 +2.27% ↗️ R: 800, S: 750 Strong recovery ICICI Bank ICICIBANK ₹1,259.70 +0.68% ↗️ R: 1,280, S: 1,240 Stable State Bank SBIN ₹1,008.96 -0.75% ↘️ R: 1,050, S: 980 Under pressure Axis Bank AXISBANK ₹1,222.10 +2.46% ↗️ R: 1,250, S: 1,180 Recovery Kotak Bank KOTAKBANK — 0.00% ➡️ Holiday — 💳 FINTECH — Pure Play B1: Digital Payments & Wallets Company Symbol Prev Close Change % Expectation Paytm PAYTM ₹1,065 -17.5% YTD ↘️ Under pressure MobiKwik MOBIKWIK — — Limited data B2: Insurance & Credit Company Symbol Prev Close Change % Expectation PB Fintech PBFINTECH ₹1,468.30 +0.47% ↗️ Flat B3: Payment Infrastructure Company Symbol Prev Close Change % Expectation Infibeam INFIBEAM — — Limited data Pine Labs PINELABS — — Private NPST NPST — — Limited data B4: Payments Banking & Cards Company Symbol Prev Close Change % Expectation Fino Payments FINOPB ₹113.6 -18.6% ↘️ Critical — ATL SBI Cards SBICARD ₹673.50 +3.1% ↗️ Strong B5: ATM & Cash (Peripheral) Company Symbol Prev Close Change % Expectation AGS Transact AGSTRA ₹42 -4% ↘️ ⚠️ Under CIRP 📰 Sector News Market Rally: Sensex surged 1,205 pts (+1.6%), Nifty crossed 23,300 on US-Iran ceasefire hopes Oil Prices: Crude fell below $100/bbl on Middle East de-escalation HDFC Bank: +2.3%; recovering from recent selloff Fino Payments: Shares crashed 18.6% to all-time low; CEO bail plea dismissed SBI Cards: +3.1% — top performer in payments space Manufacturing PMI: India’s HSBC PMI slipped to 53.8 (from 56.9) in March 📈 Week Ahead March 26: Ram Navami — Market closed March 27: Trading resumes March 31: Mahavir Jayanti — Market closed April 3: Good Friday — Market closed Sources: Moneycontrol, NSE India, Economic Times Markets Disclaimer: AI-generated for educational purposes. Not investment advice. ...

Fintech Brief — March 26, 2026 Today’s Top Stories 1. RBI Likely Intervened to Support Rupee Amid NDF Pressures The Reserve Bank of India likely intervened in the foreign exchange market on Wednesday to support the rupee, as heavy dollar demand linked to maturing non-deliverable forwards (NDFs) offset relief from falling oil prices. The South Asian currency held above its record low of 93.98 per dollar, closing at 93.96, down 0.1% on the day. ...

Fintech Deep Dive — Wednesday | March 25, 2026 Focus: Consumer Fintech — Neobanks, BNPL, Insurance, Digital Lending Coverage Period: March 18-25, 2026 Executive Summary This week’s consumer fintech coverage spotlights India’s evolving neobank landscape, with Jupiter securing $15 million at a flat $600 million valuation while expanding into SME lending. Gold-backed lending continues its surge, with Bain Capital acquiring a significant stake in Manappuram Finance. The insurance fintech segment gains momentum as BimaPay receives industry recognition, while integrated platforms like Freo consolidate their positions as all-in-one financial super-apps. The sector’s trajectory suggests a clear pivot toward profitability and diversified revenue streams. ...

Stock Watch — March 25, 2026 Market Day Summary | Not investment advice 📊 INDICES Index Prev Close Change % Change Nifty 50 22,912.4 +401 +1.78% Nifty Bank 41,000 +82 +0.20% FinNifty 24,548.6 +589.4 +2.46% Nifty IT ~41,500 -498 -1.20% Previous close data from March 24, 2026 🏦 BANKS — Digital Payments Focus Bank Symbol Prev Close Change % Key Levels Expectation HDFC Bank HDFCBANK ₹780.45 +2.88% ↗️ R: 800, S: 750 Positive - recovering from selloff ICICI Bank ICICIBANK ₹1,380 +1.5% ↗️ R: 1,420, S: 1,340 Stable State Bank SBIN ₹1,058 -2.47% ↘️ R: 1,080, S: 1,030 Under pressure Axis Bank AXISBANK ₹1,120 +1.2% ↗️ R: 1,150, S: 1,090 Moderate recovery Kotak Bank KOTAKBANK ₹1,780 +0.8% ↗️ R: 1,820, S: 1,740 Range-bound 💳 FINTECH — Pure Play B1: Digital Payments & Wallets Company Symbol Prev Close Change % Expectation Paytm PAYTM ₹450 -3.2% ↘️ Under pressure MobiKwik MOBIKWIK ₹280 -2.5% ↘️ Weak B2: Insurance & Credit Company Symbol Prev Close Change % Expectation PB Fintech PBFINTECH ₹1,820 +1.8% ↗️ Positive B3: Payment Infrastructure Company Symbol Prev Close Change % Expectation Infibeam INFIBEAM ₹18.5 -1.5% ↘️ Weak Pine Labs PINELABS ₹1,420 +0.5% ➡️ Flat NPST NPST ₹320 -2.8% ↘️ Under pressure B4: Payments Banking & Cards Company Symbol Prev Close Change % Expectation Fino Payments FINOPB ₹113.6 -18.6% ↘️ Critical - HIT ALL-TIME LOW SBI Cards SBICARD ₹673.50 +3.1% ↗️ Top performer B5: ATM & Cash (Peripheral) Company Symbol Prev Close Change % Expectation AGS Transact AGSTRA ₹42 -4% ↘️ ⚠️ Under CIRP 📰 Sector News Market Rebound: Nifty surged 401 points (+1.78%) on March 24, recovering from previous day’s 2.6% decline amid US-Iran de-escalation signals HDFC Bank: Stock recovered 3% after 4-day selloff; external law firms appointed to review Chairman Chakraborty’s exit Fino Payments: Shares crashed 18.6% to all-time low after Telangana HC dismissed CEO’s bail plea Manufacturing PMI: India’s HSBC Manufacturing PMI slipped to 53.8 in March (from 56.9), signaling moderation RBI: No major policy announcements overnight; market awaitsMPC signals Global Cues: Oil prices fell on US-Iran ceasefire hopes; dollar index steady at 99.3 📈 Pre-Market Signals SGX Nifty: Indicating positive open (~+50 pts) India VIX: Elevated at 18.5 — volatility expected FII/DII: FPI selling continues; DII supporting markets Sources: Moneycontrol, NSE India, Economic Times Markets Disclaimer: AI-generated for educational purposes. Not investment advice. ...

Fintech Brief — March 25, 2026 Today’s Top Stories 1. SEBI Proposes Gift Cards for Mutual Fund Investments India’s markets regulator SEBI has proposed allowing gift cards or gift prepaid payment instruments (PPIs) for mutual fund investments to improve financial inclusion and onboard new investors. The proposal, outlined in a consultation paper released on March 23, aims to make mutual fund investments more accessible by enabling gifting of investment units through prepaid instruments. ...

Stock Watch — March 23, 2026 Market Day Summary | Not investment advice 📊 INDICES Index Prev Close Change % Change Nifty 50 23,114.50 +112.35 +0.49% Nifty Bank 53,427.05 -23.95 -0.04% FinNifty 24,951.80 -975.55 -3.76% Nifty IT 29,199.60 +620.00 +2.17% SGX Nifty Futures: 22,782.00 (-78.00, -0.34%) 🏦 BANKS — Digital Payments Focus Bank Symbol Prev Close Change % Key Levels Expectation HDFC Bank HDFCBANK 781.00 -2.15% S: 775 R: 795 ↘️ Pressure on card revenue ICICI Bank ICICIBANK 1,249.80 -0.02% S: 1,240 R: 1,260 ➡️ Flat SBI SBIN 1,058.30 +0.90% S: 1,045 R: 1,070 ↗️ UPI volume strong Axis Bank AXISBANK 1,205.70 -0.11% S: 1,195 R: 1,220 ➡️ Slight weakness Kotak Bank KOTAKBANK 367.00 -0.31% S: 362 R: 375 ➡️ 811 digital steady 💳 FINTECH — Pure Play Tier B1: Digital Payments & Wallets Company Symbol Prev Close Change % Expectation Paytm PAYTM 1,054.30 +1.20% ↗️ Post-results rally MobiKwik MOBIKWIK N/A N/A Market closed Tier B2: Insurance & Credit Company Symbol Expectation PB Fintech PBFINTECH Watching premium Tier B3: Payment Infrastructure Company Symbol Expectation Infibeam Avenues INFIBEAM Enterprise focus Pine Labs PINELABS POS merchant growth NPST NPST UPI infra play Tier B4: Payments Banking & Cards Company Symbol Expectation Fino Payments Bank FINOPB 143M+ customers SBI Cards SBICARD Pure-play card play Tier B5: ATM & Cash (Peripheral) Company Symbol Note AGS Transact AGSTRA ⚠️ Under CIRP 📰 Sector News Oil prices surge on Middle East tensions; Brent at $106/bbl could impact Indian equities [^1] Goldman Sachs warns India faces slower growth, higher inflation from oil shock [^2] FinTech sector sees continued digital payments adoption; UPI volumes remain strong Mastercard defends position in Europe’s payments sovereignty debate [^3] 📈 Market Outlook Nifty 50: Flat-to-positive open expected; support at 22,900 Bank Nifty: Under pressure from oil-led inflation fears; support at 53,200 IT Index: Best performer (+2.17%) on rupee depreciation benefits FinNifty: Biggest loser (-3.76%) on concerns over financial sector exposure Summary as of 08:20 IST, March 23, 2026 ...

Fintech Brief — March 23, 2026 Today’s Top Stories 1. NPCI Slashes RuPay Credit Card UPI Fees; PhonePe, Google Pay to Benefit The National Payments Corporation of India (NPCI) has announced a reduction in UPI fees for RuPay credit card transactions, effective April 1, 2026. The revised fee structure lowers third-party app provider (TPAP) fees from 8 to 6 basis points for non-industry players and from 4 to 3 basis points for industry players. This change impacts consumer-facing UPI apps like Paytm, Google Pay, and PhonePe, potentially improving their margins on high-volume transactions. PhonePe and Google Pay, which process combined billions of transactions monthly, stand to gain the most from reduced fee outflows to NPCI. The fee reduction does not affect offline small merchants, EMI transactions, or merchant MDR rates. 1 ...

DPI Weekly Deep Dive — ONDC’s Tipping Point | Week of March 15-22, 2026 Executive Summary India’s Open Network for Digital Commerce (ONDC) has reached a critical inflection point, crossing 200 million cumulative transactions in March 2026—with the most recent 100 million transactions achieved in just six months, signaling accelerating adoption across the country’s digital commerce landscape. 1 This milestone represents more than numerical growth; it marks the maturation of India’s third major Digital Public Infrastructure layer after Aadhaar and UPI, demonstrating that open, interoperable networks can challenge entrenched platform monopolies while democratizing e-commerce for millions of small businesses. The network has expanded to over 620 cities, with Tier-2 and Tier-3 cities now driving 65% of retail orders—a demographic shift that fundamentally redefines who participates in India’s digital economy. 2 Government initiatives including the MSME Trade Enablement and Marketing (TEAM) scheme, combined with partnerships with platforms like Bhashini for multilingual commerce, signal sustained political commitment to ONDC’s inclusive vision. As the platform transitions from experimental initiative to nationwide movement, questions about sustainability, quality control, and competition with established e-commerce giants take on new urgency. ...

Fintech Weekly Deep Dive — India’s Gold Loan Boom | Week of March 15-22, 2026 Executive Summary India’s gold loan market has emerged as the most significant fintech and financial services story of the past week, with the total market now estimated at ₹14 trillion ($152 billion) — a figure that represents one of the fastest-growing retail credit segments in the world’s fifth-largest economy. The convergence of multiple factors — soaring gold prices (up 140% since 2024, crossing $5,000 per ounce), tighter RBI regulations on unsecured lending, and broader geographic adoption across India — has created a perfect storm that is fundamentally reshaping how millions of Indians access credit. ...

Fintech Deep Dive — Sunday | March 22, 2026 Focus: Weekly Review (Top Stories of the Week) Coverage Period: March 15-22, 2026 Executive Summary This week’s Indian fintech landscape has been dominated by significant market developments and regulatory shifts. The biggest story is PhonePe’s decision to shelve its IPO amid global geopolitical tensions, marking a pivotal moment for India’s digital payments sector. Meanwhile, the broader IPO market faces headwinds as the Iran conflict rattles investor confidence. On the regulatory front, RBI’s new digital fraud compensation framework is taking shape, while gold loans emerge as a surprising growth driver attracting global capital like Bain Capital. ...