The Nifty India Volatility Index rose 10.33 per cent to 13.57, which indicated an increase in the expectation of near-term uncertainty.

Spice Money, India's leading rural fintech company and a subsidiary of DigiSpice Technologies Limited, today announced the launch of NPCI's AePS three-party cash deposit service, introduced at Global Fintech Fest (GFF) 2026. 

The service enables customers to deposit cash into the Aadhaar-linked bank account of another registered beneficiary, such as a family member, through a Spice Money Adhikari. Unlike traditional AePS cash deposits that enable customers to deposit money into their own accounts, the three-party service enables deposits into another person's bank account, with Aadhaar-based authentication and beneficiary verification.

Rajasthan could save up to Rs 85 billion in power procurement costs in 2030 by meeting its emerging reliability needs through renewable energy (RE) and storage rather than new coal capacity, according to a new study by the Council on Energy, Environment and Water (CEEW) launched today.

The study, How Should Indian States Choose New Power Generation Capacity? A Case Study of Rajasthan, assesses a February 2025 proposal by Rajasthan distribution companies (discoms) to contract for 3,200 MW of new coal capacity to address projected shortages. CEEW finds that Rajasthan's 2030 shortfall is fundamentally a timing and flexibility problem, not just a capacity one. Nearly 90 per cent of the projected 5.5-billion-unit deficit occurs during non-solar hours, when solar generation is unavailable,  and the system needs resources that can respond swiftly to demand. Using 15-minute production-cost simulations for 2030, the study compares three pathways - business-as-usual, adding 3,200 MW of new coal, and an equivalent energy provided by an RE-plus-storage combination of solar, wind, and battery storage - to determine which best meets Rajasthan's needs at the lowest cost.

Indian shipments to Iran fell sharply amid disruption to direct trade. At the same time, rice continued moving through the wider Middle East. Read full report here

As a rule of thumb, rent shouldn't exceed 30-40 per cent of monthly income; going beyond that materially strains cash flow and crowds out savings. Read full report here

Gaurav Garg, Head - Research, Lemonn

Gold and silver remain under pressure as the stronger dollar, rising U.S. Treasury yields near 5%, and expectations of a hawkish Fed rate decision weigh on precious metals. Meanwhile, WTI has surged above $102 as fresh attacks on Saudi energy infrastructure and continued Strait of Hormuz disruptions intensify global supply concerns, raising inflation risks. Markets are focused on the upcoming Fed decision, with a possible rate hike likely to keep metals volatile. For India, higher crude and rupee weakness toward 95.80 remain negative for inflation and domestic commodity prices, while any dovish Fed signal could trigger a recovery in gold and silver.

Avinash Shekhar, Co-founder & CEO, Pi42

"Bitcoin continues to trade around the $77,000-$78,000 range as investors remain cautious ahead of the US Federal Reserve's September policy decision. The market is currently being driven more by macroeconomic cues than crypto-specific developments, with elevated bond yields and uncertainty around the interest-rate trajectory keeping risk appetite in check. At the same time, Bitcoin's ability to hold above the $76,000-$77,000 zone indicates that underlying demand remains relatively resilient despite the broader uncertainty. In the near term, $76,000 will remain an important support level, while a decisive move above $79,000-$80,000 could bring renewed buying momentum. Traders should, however, expect volatility to remain elevated around the Fed announcement, as any change in the rate outlook could determine Bitcoin's next directional move."

Deveya Gaglani, Senior Research Analyst - Commodities, Axis Direct

Gold prices fell by more than 1% on Monday after hotter-than-expected US inflation data strengthened expectations that the Federal Reserve could raise interest rates at its meeting later this week. A stronger US dollar and surging oil prices added further pressure on bullion. August inflation data showed firmer-than-expected underlying price gains, increasing expectations of a 25-bps rate hike. WTI Crude Oil prices pared some of their earlier gains after President Donald Trump said Iran wanted to reach a deal and that Washington was open to the concept. Crude prices had surged earlier following renewed Houthi attacks on Saudi Arabia and the postponement of talks between Gulf countries and Iran over the Strait of Hormuz, raising concerns over prolonged disruptions to regional oil shipments.

Valmiki Leela Capital Private Limited has completed its maiden mainboard initial public offering mandate as book-running lead manager with the Rs 460-crore IPO of Deepa Jewellers Limited. More importantly, the merchant banking entity is working on an IPO pipeline worth approximately Rs 3,000 crore over the next 12 to 18 months.

The twin developments mark Valmiki Leela Capital's entry into mainboard IPO arena and the expansion of its investment banking business across manufacturing, infrastructure, energy and consumption-driven sectors.

The SEBI-registered Category I merchant banker's pipeline includes proposed issues of around Rs 1500 crore in renewable energy and power sector , followed by sectors like pharmaceuticals, packaging and fast-moving electrical goods. 
 

Shivani Nyati, Head of Wealth at Swastika Investmart LTD.

Pranav Constructions made a strong debut at Rs 165, a 33% premium to its issue price, but the sharp correction from the highs indicates profit booking and high volatility. The company's strong presence in Mumbai's Western Suburbs, healthy growth and reasonable IPO valuation remain positives, but after the sharp listing gains, investors should avoid chasing the stock at higher levels. Existing investors can hold with a stop loss of Rs 130-132, while fresh investors can wait for the stock to stabilise before taking a 

Edul Patel, CEO, Mudrex

"The CLARITY Act could be an important step towards bringing greater regulatory clarity to the global crypto market, particularly by defining the roles of the SEC and CFTC and establishing clearer rules for digital assets. If enacted, this could reduce uncertainty for institutional investors and encourage greater participation from banks, asset managers and other traditional financial institutions. A clearer US framework could strengthen global investor confidence in digital assets, potentially improving liquidity and adoption across markets, including India. It could also provide Indian policymakers with another regulatory framework to study as they shape their own approach to crypto. However, the Act would not change India's existing VDA tax or regulatory framework directly. Its larger significance is that clearer rules in major markets could accelerate crypto's transition from a speculative asset class towards a more established part of the global financial system."

Ashish Singhal, Co-founder, CoinSwitch

"The Senate's procedural vote on the CLARITY Act is an important indicator of whether the United States can move towards a more coherent framework for digital-asset markets. Clearer delineation of SEC and CFTC responsibilities could give institutions and market participants greater confidence in the regulatory treatment of digital-asset activities. The CLARITY Act is particularly relevant for Indian investors because the direction of US digital-asset regulation can have a wider bearing on global market confidence, institutional activity and the long-term maturation of the sector. Its significance will ultimately rest on the legislation's progress through the Senate and on the final balance it achieves between market innovation, investor safeguards and regulatory accountability."

Oracle's workforce fell by around 21,000 employees, or 13 per cent, during fiscal 2026. Its global headcount stood at roughly 141,000 at May-end. Read full report here

Vikram Subburaj, CEO, Giottus.com

Bitcoin is trading around $78,000, with the market cautiously positioned ahead of the Federal Reserve's September 15-16 meeting. BTC has recovered from the recent lows but remains below the $82,000-$82,800 September high. Immediate support is around $75,500-$76,000, followed by $71,700-$72,000, while $80,000-$80,500 is the first resistance zone. A sustained move above $82,800 would improve the bullish setup. Reuters notes that options positioning has also turned more constructive, with significant open interest around the $80,000 strike.

ETF demand has been mixed. US spot Bitcoin ETFs attracted $730.8 million on September 3 and $174.6 million on September 4. They then recorded outflows of $46.6 million on September 8 and $120.2 million on September 9. Outflows widened to $282.7 million on September 10, before easing to $13.2 million on September 11, according to Farside.

The on-chain picture is less decisive. Large-holder accumulation has stalled, while the recent move has also been supported by derivatives positioning. This suggests that spot demand still needs to strengthen for the rally to become more durable.

Large-cap altcoins are participating in the rebound, with Ethereum around $2,518, BNB near $720, XRP around $1.42 and Solana near $102. XRP is showing the strongest short-term momentum among the major altcoins.

Macro remains the key driver. Markets are pricing a 93% probability of a 25-basis-point Fed hike, according to Reuters. A hike is therefore largely priced in; the bigger risk is the Fed's forward guidance. The US 10-year yield has moved above 5%, while oil is around $107 a barrel, keeping inflation risks elevated.

Our advice: Investors should avoid excessive leverage around the Fed decision. BTC holding $75,500-$76,000 keeps the recovery intact, but renewed ETF outflows or a hawkish Fed message could expose the low-$72,000s. A clean break above $82,800 would strengthen the bullish case.

Gaurav Udani, Founder - Thincredblu 

"Nifty is expected to open around 23,450, up by nearly 50 points, indicating a mildly positive start. After the recent weakness, the market will need to sustain above 23,500 to build momentum on the upside. The immediate support is around 23,200-23,250, while 23,600-23,700 remains the key resistance zone.

The view remains cautiously positive above the 23,400 level, and traders can look for buying opportunities on dips rather than chasing the opening move. A sustained move above 23,600 can improve sentiment and open the possibility of a move towards 23,800. However, failure to hold 23,200-23,250 would keep the broader bias weak and could bring selling pressure back.

Overall, the focus should remain on how Nifty behaves around these levels, with access to action coming from the price action rather than the opening gap."

The Thesis
After a four-day break, today's conviction lands squarely on PSU financials and specialist services - an earnings-cycle cluster insulated from the crude and rupee drag hitting importers. The post-BRICS DII bid and government capex cycle provide the domestic underpin.

Where We're Concentrated
The basket is anchored in PSU banking and diversified NBFCs - where NPA improvement and domestic savings re-rating are driving a valuation catch-up - flanked by a dollar-revenue healthcare IT franchise and a government EPC name levered to refinery capex. An agri-food exporter adds INR-weakness beta at 95.73. The thesis breaks on a hawkish Fed forcing INR through 96.

Conviction Picks
Highest Conviction
Union Bank of India
PSU deposit franchise anchors the thesis as government capex flows strengthen NIMs amid a firm DII bid.
Aditya Birla Capital
Diversified platform captures domestic savings re-rating as DII bid fills the gap left by cautious FIIs.
LT Foods
Rice export competitiveness sharpens as INR softness at 95.73 expands margins in Gulf and BRICS markets.
Indegene
Dollar revenues make INR softness a tailwind as pharma clients accelerate global digital workflow spend.
Engineers India
State energy capex accelerates as sustained crude above $100 drives refinery expansion - EPC mandate capture.
One Thing to Watch
USD/INR 95.73 - Fed decides tomorrow A hawkish hold or dot-plot shift widens the US-India rate gap; if INR cracks 96, FII outflows return and the financial basket's re-opening rally

Harish Vatnani, Head of Trade, ZebPay

ETH continues to maintain a bullish medium-term structure on the daily chart. After establishing a major bottom around $1,550-$1,600, ETH gradually recovered, reclaimed the $1,850-$1,900 region and subsequently broke out strongly toward the $2,500-$2,650 area.
The most important development since the previous report is that ETH has continued to hold above $2,300-$2,350 despite several attempts to move lower. Price is now consolidating between approximately $2,350 and $2,550, while repeated upper wicks indicate strong selling pressure around the $2,550-$2,650 region.
The large-volume breakout from the $1,900 area remains the primary bullish signal. However, ETH has now spent several weeks below the major resistance zone, meaning the market is waiting for a decisive breakout before the next major leg higher.

Technical Analysis

The daily chart shows a clear sequence:
Major bottom: Approximately $1,550-$1,600
Recovery: ETH reclaimed $1,700-$1,800
Major breakout: ETH broke above $1,850-$1,900
Impulsive move: Strong rally toward $2,500-$2,650
Current consolidation: Approximately $2,350-$2,550
Current price: Approximately $2,505
Major resistance: $2,550-$2,650
Major support: $2,350-$2,400
The consolidation following the large breakout can still be interpreted as a bullish continuation structure.
Importantly, the volume profile supports the bullish interpretation. The strongest volume occurred during the breakout from the $1,900 region, while price subsequently entered a relatively tighter range.
This suggests that the market has not yet experienced a major distribution breakdown.

However, ETH is now approaching the upper boundary of its range, so the next breakout attempt is particularly important.

At the time of writing, ETH was trading at approximately $2,504.
 
Summary

ETH remains bullish on the daily timeframe, but it is currently consolidating below major resistance. The chart shows a strong bullish impulse from approximately $1,850-$1,900 toward $2,500-$2,650, followed by sideways consolidation between approximately $2,350 and $2,550. The most important level is now $2,550-$2,650. A confirmed daily breakout above this region with strong volume could initiate the next major move toward $2,700, $2,800-$2,850, and eventually $3,000. A sustained continuation above $3,000 could open the possibility of $3,100-$3,250. On the downside, $2,350-$2,400 is the key support zone. Losing this region would weaken the bullish setup and could lead toward $2,200-$2,250 and then $2,100-$2,150. For now, the structure remains bullish above $2,350, with the market waiting for a decisive breakout above $2,600."

Rajesh Palviya, Head of Research, Axis Direct

The Nifty 50 ended Friday's session 79.70 points, or 0.34%, lower at 23,398.10, with market breadth remaining weak as 37 of 50 constituents closed in the red. After Monday's holiday for Ganesh Chaturthi, global cues remain mixed. Wall Street extended its decline overnight, with the S&P 500 falling 0.48%, the Dow 0.29% and the Nasdaq 0.56%, amid renewed concerns around the pace of frontier AI development that triggered selling in semiconductor stocks and dragged Nvidia down more than 2%. Meanwhile, the 10-year US Treasury yield briefly crossed 5%, its highest level since 2023, ahead of this week's Federal Reserve decision.

Asian markets are trading mixed, with the Nikkei up around 0.4%, Hang Seng gaining 0.5%, while the Kospi remains largely flat. Brent crude is hovering near $107 a barrel following supply disruptions in the Middle East, adding to concerns for India as a net oil importer. GIFT Nifty around 23,530 indicates a gap-up opening of nearly 130 points over Friday's close.

Technically, the near-term undertone is turning constructive as long as the Nifty sustains above 23,300. A decisive break below this level could drag the index towards 23,150, while on the upside, 23,550 remains the immediate hurdle, followed by 23,750. If crude prices show signs of easing, the positive opening could gain further momentum and extend the recovery beyond the initial gap-up.

Josh Engels, who worked on Google DeepMind's AGI safety team, has left the company. He even turned down offers from Anthropic and OpenAI. Read full report here

"BTC is trading within the $77K-$78K support zone after slipping from higher levels. The broader market remains cautious as investors assess macroeconomic and geopolitical developments, while $80K-$82K continues to remain the key resistance area. A sustained move above $80K could strengthen near-term momentum, while a break below $77K may bring renewed selling pressure. For now, BTC remains in a consolidation phase, with the next decisive move likely to determine the direction of the broader recovery". 

Prateek Gupta, Head of Business, Mudrex

"Bitcoin is holding steady around $78,000 despite falling below its 50-week EMA as leverage continues to unwind. The Bank of Japan's expected rate hike to 1.25% this week, its highest since 1995, is another risk to watch, given a similar move preceded Bitcoin's sharp selloff in August 2024. Spot Bitcoin ETFs have also recorded $463 million in weekly outflows. Despite these headwinds, BTC has remained resilient so far, as optimism around the CLARITY Act vote is providing additional support. BTC also stayed relatively stable despite a sharp AI-stock selloff, showing continued decoupling from tech equities. Bitcoin faces resistance at $80,000, while $75,000 remains key support." 

Riya Sehgal, Research Analyst, Delta Exchange

Crypto markets are entering a high-volatility event window, with Bitcoin trading around $77,000-$78,000 after its latest push toward $79,500 was quickly rejected. The price action suggests buyers are still defending lower levels, but persistent supply around $79,000-$80,000 continues to limit upside momentum.

Ethereum has followed a similar pattern, with $2,550-$2,600 remaining the key resistance area.
Volatility is also beginning to reprice. Bitcoin volatility has recovered from roughly 36.5 to 38.8, indicating that markets are preparing for larger price swings as event risk builds.

The immediate focus is today's CLARITY Act procedural vote. While this is not final passage, clearing the 60-vote threshold would represent meaningful progress toward a clearer U.S. regulatory framework and could improve sentiment across Bitcoin and altcoins. Failure to advance could produce a short-term disappointment trade, particularly with positioning already becoming more sensitive to headlines.

Beyond regulation, the Federal Reserve remains the larger macro catalyst. With a 25-basis-point hike largely priced in, the market reaction will depend more on Chair Kevin Warsh's guidance and the future rate path.

Vaishali Patel, Senior Manager - Research- Technical Department at Jainam

Nifty opened with a gap down and continued selling led the index to end near day's low. Nifty closed at 23,431.50 with a loss of 203.60 (-0.86%) points, slipping below the crucial 23,600-23650 support amid persistent selling pressure and elevated crude prices. U.S. markets ended sharply lower overnight as the escalation in the Middle East.

Asian markets are trading mixed to lower, with investors concerned about rising oil prices and their impact on global inflation. Crude oil prices continue to rise, trading around the 9,099, tracking the sharp rise in international crude prices. GIFT Nifty is trading flat around 23,488, a weak-to-muted opening for Indian equities.

Technically, Nifty has turned decisively weak after breaking below the crucial 23,650-23,700 support zone and the rising trendline from the April lows. The index is trading below its 20-day, 50-day and 100-day moving averages, confirming persistent selling pressure. RSI below 30 indicates extreme weakness, although a minor pullback cannot be ruled out. As long as Nifty remains below 23,800, any recovery is likely to face resistance at 23,650-23,700. The index may extend its decline towards 23,250 and 23,000, while a sustained move above 23,700 would be required to negate the bearish setup. Overall, the near-term outlook remains negative to cautious, favouring a sell-on-rise strategy.

Nischal Shetty, Founder, WazirX

"Oil prices surged above $105 amid Middle East supply concerns, reviving inflation risks, while the US 10-year Treasury yield briefly crossed 5%. Markets also raised expectations of a near-term Fed rate hike, strengthening the dollar and tightening global financial conditions. These factors can restrict liquidity and reduce risk appetite across crypto markets. However, Bitcoin's relative stability suggests underlying demand remains resilient. Overall, macro conditions remain restrictive, but crypto continues to absorb external pressure without a broader breakdown.

Bitcoin trades near $77,970 in a constructive daily structure, with RSI near 57, indicating positive but controlled momentum. Immediate support sits around $77,200-$77,800, while $78,000-$78,400 is the nearest resistance. Holding support could sustain strength; rejection may expose the secondary $76,000-$77,000 zone.

Ethereum trades near $2,517 in a bullish daily structure, with RSI near 61, reflecting healthy upward momentum. Immediate support lies around $2,470-$2,500, while resistance sits near $2,550-$2,600. Holding $2,500 could preserve strength; Futures traders should watch participation around resistance before treating any test as confirmation.

PENDLE trades near $2.41 in a strong bullish daily structure, with RSI near 71, indicating elevated momentum. Immediate support sits around $2.30-$2.33, with secondary support near $2.15-$2.20. Resistance lies around $2.45-$2.50. Holding support could sustain momentum, while rejection may lead to short-term consolidation.

Asian markets were mixed, with Japan's Nikkei 225 up 0.62% and KOSPI slightly higher, while Hong Kong, Shanghai, India, and Singapore traded lower. In the US, the Dow, S&P 500, and Nasdaq declined as the VIX jumped nearly 8%, signaling weaker risk appetite. Oil rose 1.38% while gold slipped 0.37%. Overall, cross-asset sentiment remains cautious, but crypto's relative resilience suggests investors are not broadly exiting higher-risk assets.

US spot Bitcoin ETFs remained under pressure, recording about $463 million in outflows over four consecutive sessions and ending a three-week buying streak. Bitcoin still traded near $79,000, showing resilience despite weaker ETF demand. Ethereum ETFs saw stronger institutional interest, attracting roughly $216 million in the latest session, led by BlackRock's ETHA with about $149 million. The divergence suggests institutional flows are rotating selectively, while macro conditions continue to influence near-term crypto price action."

Investors will get a chance to react to the impact of the AI debate on Indian tech stocks when markets reopen today after a local holiday on Monday. Read full report here

If you pay Rs 5,000 or Rs 10,000 through UPI, there is currently no government-announced consumer transaction fee that automatically applies. Read full report here

At the close on Friday, the total market cap of all BSE Sensex companies stood at Rs 4,81,82,853.