India has concerns about dollar dependence; but New Delhi isn't backing a BRICS currency. Read full report here

PayU, India's leading diversified fintech platform, unveiled its AI-powered Fraud Liability Protect (FLP) solution for Indian merchants accepting international card payments at the Global Fintech Fest 2026. PayU's FLP solution offers risk and liability protection against modern-day AI scams and eligible fraud chargebacks for cross-border card payments through AI and risk-based decisioning, enabling safer and higher payments conversions for merchants.

At Global Fintech Fest 2026, Xflow, a cross-border payments platform, today announced a partnership with HSBC that enables global businesses to collect payments from Indian customers using cards, net banking, and UPI for online and recurring payments. By using India's local payment infrastructure, businesses anywhere in the world can use Xflow to offer Indian buyers a familiar, local checkout experience, without taking on additional local regulatory obligations or establishing an entity in India. The solution was unveiled at Global Fintech Fest, one of the world's largest fintech gatherings, in Mumbai

Traditionally, collecting payments from India has been very difficult for international merchants. Fewer than 70% of international card transactions succeed in India, as many cards are not enabled for overseas spending, and recurring payments face additional friction due to India's data and mandate requirements. Bank wire transfers can be slow, costly, and paperwork-heavy. These hurdles cause global merchants to lose Indian customers at checkout.

India needs a layered approach, not a single alternative to the dollar: dollar where it's efficient, local currency where trade flows support it. Read full report here

India's widening trade deficit with BRICS is a reflection of the asymmetry in India's current economic integration with the grouping. Read full report here

Ruchit Thakur, Market Analyst, VT Markets

Brent crude climbing past $108 per barrel, this market dip shouldn't be viewed as an automatic buying opportunity. Sustained high oil prices expand India's import bill, weigh on the rupee, elevate inflation risks, and threaten corporate profit margins. Equity markets have already responded with steep losses, sending the Nifty and Sensex to three-month lows.
Rather than making aggressive lump-sum investments during the initial sell-off, investors should take a cautious approach. While it makes sense to selectively accumulate high-quality companies as valuations turn favorable, maintaining adequate liquidity for ongoing volatility is crucial. A sustained market recovery will depend primarily on crude prices stabilizing or cooling off, alongside a reduction in geopolitical tensions.
During an oil-driven correction, I would focus on defensive and relatively less crude-sensitive sectors such as pharmaceuticals, healthcare, utilities, select financials and IT exporters. Stocks such as Sun Pharma, Dr Reddy's, HCLTech, Infosys, HDFC Bank and NTPC could be considered gradually, subject to valuation. Pharma and defensive sectors may provide better resilience if volatility remains elevated.
Within energy, ONGC and Oil India are relatively better positioned because higher crude prices can improve upstream realisations; both gained even as the broader market declined today.
The strategy should be to stagger purchases rather than trying to catch the exact bottom, and prioritise balance sheet strength and earnings visibility.

Nishchay Nath, Founder & CEO of BondScanner

"Demat 2.0 is best understood as new infrastructure for the corporate bond market. By issuing bonds as tokens on a distributed ledger and settling them against the wholesale digital rupee in a single simultaneous step, the regulators are eliminating the gap between the security and the cash leg - settlement becoming real-time, programmable and far less error-prone, with smart contracts capable of automating coupons and redemptions over time."

"What's notable is how carefully it has been structured: the underlying instrument, its rating, its trustee and its disclosure obligations are all unchanged. However, the caveat is that this remains a phased pilot: issuance-led and institutional today. What will matter is secondary-market depth and the carefully sequenced path to retail participation."

The Thesis
With Brent near $110 and the GIFT Nifty pointing down 0.6%, InvestorAi pivots into domestic defensives. PSU banking holds the anchor: FII sold for a third straight session but DII absorbed the full flow, keeping credit spreads intact through the oil shock. The food processing and home textile tilt bets domestic consumption outlasts the Iran-US deadlock.

Where We're Concentrated
A deliberate barbell: PSU banking on one side, dollar earners and domestic staples on the other. Union Bank commands the widest agreement in the basket; Welspun Living earns in USD while LT Foods' rice demand is domestically insulated; Indegene's pharma-services revenues hedge currency risk; HEG's graphite franchise rides domestic steel demand where energy pass-through lags spot oil. What breaks it: IRGC escalation to commercial tanker targeting pushes USD/INR through 96 and erodes the consumption margin cushion.

Conviction Picks
Highest Conviction
Union Bank of India
PSU banking anchor; sustained DII absorption and stable credit spreads offset FII's third day of net selling.
Welspun Living
Dollar-earning home textile exporter; USD/INR at 95.5 lifts export realisations above the domestic oil import drag.
LT Foods
Staple rice demand is domestically anchored, insulated from oil-driven consumer spending compression across categories.
Indegene
Pharma-services with USD-contract revenues; currency pressure becomes tailwind as rupee stays under RBI intervention.
HEG
Graphite electrode franchise tied to domestic steel demand, where energy cost pass-through to production lags spot oil.
One Thing to Watch
Hormuz commercial tanker disruption UK Maritime Trade Ops logged projectile strikes on two vessels near Oman overnight; IRGC escalation to commercial tanker targeting would send India's import bill sharply higher and test RBI's $5B intervention buffer - pushing USD/INR toward the 96 handle and compressing the basket's consumption names.

Partnership with NPCI Bharat BillPay enables payments across utilities, mobile, broadband, DTH and credit cards; Multipl targets over two lakh users

Mumbai, September 10, 2026: Consumer fintech platform Multipl today launched bill payments through its Spending Account in partnership with NPCI Bharat BillPay at the Global Fintech Fest 2026. The company is targeting more than two lakh users and Rs 500 crore in bill-payment transaction value over the next six to 12 months.

The announcement comes a day after Multipl launched its Spending Account with UPI at GFF. The addition of bill payments expands the account beyond merchant transactions, allowing consumers to use money earmarked for predictable household expenses while keeping it invested in liquid mutual funds until it is required.
 

Riya Sehgal, Research Analyst, Delta Exchange

Bitcoin's near-term setup has weakened after breaking below its recent consolidation structure, with price trading around $76.9K and below the major moving-average cluster on the short-term charts. The $75.6K-$76.2K region is now the key support zone, while $77.6K-$78K has turned into the first important resistance area. A sustained reclaim of that zone would be needed to stabilize the short-term structure.
Ethereum is holding up relatively better, but momentum has also softened. The $2,430-$2,450 region remains the immediate support zone, while $2,500 is the first major resistance, followed by the $2,525-$2,565 area. The broader structure remains constructive, but a decisive break below $2,350-$2,360 would materially weaken the bullish setup.
Macro conditions remain the dominant driver. August US PPI rose 0.4% month-on-month and accelerated to 5.4% year-on-year, keeping inflation concerns elevated. WTI crude remains above $100, reinforcing the risk that energy prices keep inflation sticky.
The dollar has started to recover, while gold has slipped toward the $4,320-$4,350 region, suggesting the pressure is broader than crypto and is being driven by rates, inflation and dollar strength.
Bitcoin implied volatility is holding near 40 after rising from the mid-30s earlier this month. That shows traders are pricing elevated event risk ahead of CPI.
The next major catalyst is US CPI. A hotter reading could push yields and the dollar higher and put additional pressure on Crypto, while a softer print could allow a relief move across risk assets. For now, Bitcoin remains cautious below $78K, while Ethereum continues to show comparatively better resilience above its key support zones.

Pranay Aggarwal Director & CEO of Stoxkart 

The recent pressure on the Indian rupee against the US dollar is an important macro signal for Indian markets. A weaker rupee can increase import costs, add pressure on inflation, and impact companies with dollar-linked expenses.

The key concern remains crude oil, as higher oil prices along with rupee weakness may widen current account pressure and influence bond yields. While import-heavy sectors such as aviation, oil marketing, and chemicals may remain sensitive, export-oriented sectors like IT, pharma, and select manufacturing companies could benefit.

In the near to medium term, the rupee may remain range-bound but vulnerable, depending on crude prices, foreign flows, US dollar movement, and domestic growth. However, India's strong macro fundamentals, healthy forex reserves, and RBI's active intervention should help prevent any sharp or disorderly depreciation.

Ahead of the Global Fintech Fest (GFF) 2026, Lyra Network Pvt. Ltd. and plutos ONE Technology Private Limited have announced their intent to enter into a Memorandum of Understanding (MoU) to collaborate on the development and advancement of AI-driven and next-generation payment technology solutions. The proposed collaboration will bring together the technology capabilities, domain expertise and market presence of Lyra and plutos ONE to explore opportunities across the design, development, implementation and enhancement of innovative payment products and solutions. The partnership will focus on building solutions that are secure, scalable and efficient, while addressing the rapidly evolving requirements of the digital payments ecosystem.

Nischal Shetty, founder, WazirX

"The crypto market is seeing some profit-taking, with total market cap down 1.33% to $2.62T, ahead of today's inflation report. Wall Street expects inflation to jump. If the numbers come in higher than expected, the Federal Reserve will likely raise interest rates next week to cool down the economy. Higher interest rates make safer investments like bonds more attractive, which usually hurts assets like crypto. However, if inflation turns out to be lower than expected, it could spark a quick relief rally.

Bitcoin is trading around $76,865, down 1.43%. Ethereum is relatively resilient at $2,450, while derivatives show a clear tilt toward long liquidations, with $313.85M of longs wiped out versus $88.7M in shorts.

At the same time, open interest has risen 11.59% even as volumes declined 4.88%, suggesting leverage is building amid softer spot activity. With Fear & Greed still at 67, the broader sentiment remains optimistic.

With BTC around $76.9K and still showing a short-term downward trend, $76K is the immediate support to watch, while $78K is the key resistance. A sustained break below $75.5K could increase selling pressure, whereas reclaiming $78K could trigger a short-term bullish setup.

ETH is hovering around $2,450, making $2,400-$2,425 the key support band and $2,500-$2,525 the immediate resistance zone.

XRP is holding a tight range between $1.30 and $1.40 support and $1.47-$1.52 resistance, with bulls needing a decisive break above $1.52 to reopen the path toward $1.86 and beyond. Solana is consolidating just under its $101-$104 pivot zone, with the $91-$95 area providing support."

Prateek Gupta, Head of Business, Mudrex

"Bitcoin is extending its decline for a fourth straight session, testing the $76,000-$77,000 support zone after hotter-than-expected August PPI data lifted September 16 Fed rate-hike odds to around 70%. The selloff triggered nearly $190 million in liquidations within an hour, while oil near $100 a barrel added to inflation concerns. However, Glassnode's sell-side risk ratio is near record lows, with long-term holders' share of realized profits falling from 88% to 47%, suggesting new buyers are driving most of the selling. Bitcoin needs to hold $76,000 and reclaim $80,000 to revive buying interest."

"BTC slipped below $77K due to hotter U.S. inflation data and rising Middle East tensions. US producer prices rose 5.4% YoY, slightly above expectations, reinforcing concerns that inflation remains sticky. Markets are now pricing in roughly a 74% chance of a 25 bps Fed rate hike at the September meeting. BTC also lost the key $77.5K support after repeatedly failing to break the $79K-$80K resistance zone. Attention now shifts to today's CPI report, which could determine whether rate expectations strengthen further or provide some relief to crypto markets."

Akshat Siddhant, Lead quant analyst, Mudrex

Gold fell to around $4,300/oz, heading for a third consecutive weekly decline as hotter-than-expected PPI data pushed September Fed rate-hike odds above 70%. The focus now shifts to today's CPI report for further direction on interest rates. Silver extended its own third weekly loss, reflecting its greater sensitivity to higher borrowing costs. Oil remains the key market driver, with crude surging toward $104/barrel for its strongest weekly gain since mid-July as US-Iran tensions escalated and Saudi oil output fell to a 36-year low. The rupee weakened to around Rs 95.31/$.

Vikram Subburaj, CEO, Giottus.com

Bitcoin traded around $76,624 on Friday morning, down about 0.8%. Risk assets came under pressure as oil prices and Treasury yields rose. Renewed expectations of tighter US monetary policy also weighed on market sentiment. Bitcoin remains below the $80,000 psychological mark. Near-term support is around $75,700, followed by $71,800, while resistance is concentrated near $78,000-$80,000. A decisive break above the recent $82,800 area would strengthen the recovery and potentially open the path towards $90,000.

The broader market remains constructive but cautious. Bitcoin's recent recovery has been accompanied by institutional participation, although spot ETF demand has weakened. US spot Bitcoin ETFs recorded $730.8 million in net inflows on September 3. The inflows fell to $174.6 million on September 4. The trend then reversed, with net outflows of $46.6 million on September 8. Outflows widened to $120.2 million on September 9, according to Farside.

Large-cap altcoins have also softened. Ethereum was around $2,443, down roughly 0.8%, while BNB remained near $713, XRP around $1.34 and Solana near $99-$100. ETH is showing comparatively better resilience than several other large-cap tokens, while XRP and SOL remain under pressure.

Macro is the dominant near-term driver.US August PPI rose 0.4% month-on-month and 5.4% year-on-year. The data pushed markets to price roughly a 71% probability of a 25-basis-point Fed rate hike at the September 15-16 meeting. The August CPI report is due Friday and could materially alter those expectations.

Oil is another major risk: Brent was near $109, while the US 10-year Treasury yield approached 5% amid escalating Middle East tensions. Higher energy prices could prolong inflation and keep financial conditions restrictive.

Our advice: Investors should remain measured. Bitcoin holding $75,700 keeps the recovery structure intact, but sustained ETF outflows and a hawkish Fed repricing could expose $71,800. A clean break above $82,800, preferably accompanied by renewed ETF inflows, would materially improve the bullish case.

Rajesh Palviya, Head of Research, Axis Direct

The Nifty 50 closed at 23,477.80 on Thursday, gaining 46.30 points, or 0.20%, as financial stocks helped the index recover part of the sharp 204-point decline seen in the previous session. Financial Services led the rebound with a 0.57% gain, while Metal, Pharma, Auto and Energy remained under pressure and IT stayed marginally weak.

However, the global backdrop remains challenging. Wall Street extended its losing streak to a fourth consecutive session, with the S&P 500 falling 0.58%, the Dow declining 316 points and the Nasdaq losing 0.65%. The sharp rise in crude prices, with WTI moving towards $110 a barrel amid escalating US-Iran tensions, has revived inflation concerns ahead of Friday's US CPI data.

Asian markets are reflecting similar risk aversion, with the Nikkei and Kospi down more than 2% and the Hang Seng lower by around 1.3%. Brent crude remains elevated near $109 a barrel, close to a five-month high, keeping pressure on India's import bill and inflation outlook. GIFT Nifty is trading around 23,345, indicating a gap-down opening of nearly 120 points.

Technically, the Nifty's undertone remains cautious as long as it trades below 23,600. Immediate support is placed at 23,300, and a decisive break below this level could drag the index towards 23,200. On the upside, 23,600 remains the key hurdle. Any moderation in crude prices or stabilisation in global equities could, however, provide room for a relief rebound.

Ankita Pathak, Head - Global Investments, Ionic Asset

With ECB delivering another 25-bps hike in September, the key question now is how much further rates could rise? ECB's intent is quite clear- they are focusing on inflation despite economic growth staying below 1%. We believe the ECB is unlikely to hesitate in raising rates further if inflationary pressures intensify, with markets currently pricing in another hike in December. Within DMs, ECB and BoJ are tightening policy while the Fed also seems determined to bring inflation back towards 2%, suggesting that inflation is taking precedence over near-term growth for most of the key economies globally. With inflation and interest rates expected to be higher for some time, a more diversified approach across asset classes and geographies is favourable. Assets and geographies which are better insulated during times of higher inflation environment could be considered including real assets, quality equities and select emerging markets.

In a much-anticipated move, the ECB decided to raise rates by 25 bps, taking the deposit facility rate at 2.50%, main re-financing rate to 2.65%, and the marginal lending facility rate to 2.90%. This marks the second- rate hike of the year, following a 25-bps increase in June. Renewed tensions in the Middle East, have kept oil prices elevated, with ECB highlighting this as the major source of inflationary pressure in the Eurozone. Christine Lagarde has highlighted that inflation is set to remain well above target for an "extended period". ECB remains focused on curbing inflationary pressures despite moderate growth outlook with GDP growth projected at only 0.9% for 2026.

Constant device use causes fatigue in the ears first. Tinnitus is also hard to live with. It's the sensation of hearing sound when there's no sound. Read full report here

8th Pay Commission: Representatives asked for a permanent wage-revision mechanism, so pay doesn't have to wait a decade for the next Commission. Read full report here

At the close on Thursday, the total market cap of all BSE Sensex companies stood at Rs 4,83,72,409.