Category Archives: Business

Sensex, Nifty Rebound After Two-Day Slide as IT, Pharma and Metal Stocks Lift Sentiment

Mumbai, August 28, 2026: Indian equities bounced back on Friday, with the benchmark Sensex and Nifty 50 breaking a two-session losing run as investors returned to select sectors, particularly information technology, pharmaceuticals and metals.

The Sensex climbed 330.92 points, or 0.43 per cent, to 77,264.51, while the Nifty 50 rose 84.80 points, or 0.35 per cent, to 24,175.65 at the close. The recovery provided some relief after recent selling pressure and volatile trading around the monthly derivatives expiry.

IT emerges as the day’s standout performer

Technology stocks led the market’s recovery, with the Nifty IT index gaining 3.51 per cent. Strong buying was seen across major IT counters, with Coforge, LTIMindtree, TCS, Persistent Systems and Tech Mahindra among the prominent gainers.

The sector received a boost from improved global technology sentiment after Nvidia’s latest earnings and outlook strengthened optimism surrounding artificial intelligence-related spending. The development renewed expectations that sustained AI investment could translate into stronger technology demand for Indian IT services companies.

Pharma, metals provide additional support

The positive mood extended beyond technology. Pharmaceutical and metal stocks attracted fresh buying, helping broaden the market’s recovery.

The Nifty Metal index gained around 0.75 per cent, while pharma stocks also advanced. Sun Pharma was among the notable pharmaceutical gainers, adding further support to the benchmark indices.

However, the session remained mixed, with several heavyweight stocks trading lower. ICICI Bank, UltraTech Cement and Asian Paints were among the notable decliners, limiting the overall strength of the market rebound.

Broader market sees cautious gains

The broader market also managed to finish in positive territory, although gains were relatively modest. The Nifty MidCap index edged up 0.05 per cent, while the Nifty SmallCap index added 0.20 per cent.

Market breadth improved, with advancing stocks outnumbering decliners on the NSE. This indicated that Friday’s recovery was supported by buying across several pockets rather than being driven exclusively by a handful of large-cap stocks.

Global cues remain crucial

Investors continue to track developments in global markets, particularly signals from the US Federal Reserve on the interest-rate outlook. Movements in crude oil prices, currency trends and geopolitical developments are also expected to influence domestic equities in the coming sessions.

Friday’s gains also came after heightened volatility earlier in the week, keeping investors cautious despite the benchmark recovery.

Weekly losses persist

The rebound was not enough to reverse the market’s broader weekly trend. Both the Sensex and Nifty remained on course for their third straight weekly decline, highlighting the fragile nature of the current market environment.

Analysts expect stock-specific activity and sector rotation to remain prominent as investors balance domestic fundamentals against global uncertainties. IT stocks could continue to attract attention if global technology sentiment remains supportive, while pharma and metal counters may benefit from improving sector-specific prospects.

Friday’s session therefore marked a recovery rather than a definitive change in market direction. The return of buying in IT, pharma and metals offered a positive signal, but investors are likely to remain selective until stronger domestic and global cues emerge.

Sugar Prices Slide 20 pc as Supply Measures Ease Market Pressure

New Delhi, Aug 28: Sugar prices have declined by around 20 per cent as government measures to discourage hoarding and maintain adequate supplies begin to ease pressure in the market.

The fall in prices is expected to provide relief to consumers and businesses that use sugar as a key raw material. Lower input costs could benefit industries such as food processing, beverages, confectionery and other consumer-goods businesses.

The government’s focus on ensuring sufficient availability is aimed at preventing artificial shortages and keeping supplies steady. Stronger monitoring of stocks and action against hoarding can help improve market transparency and reduce sudden price fluctuations.

For households, softer sugar prices could offer some relief from food-cost pressures. For manufacturers, lower raw-material costs may help reduce production expenses and, depending on market conditions, support margins.

The development is also important for inflation management. Food prices have a significant influence on household budgets, and a sustained decline in sugar prices could help moderate pressure within the food basket.

For the sugar industry, however, lower prices can create mixed outcomes. While consumers and downstream industries benefit from cheaper supplies, mills and producers may face pressure on realisations if prices remain weak for an extended period.

The latest movement highlights the importance of balancing consumer interests with the financial health of sugar producers. Continued monitoring of production, stocks, demand and exports will remain important for maintaining stability in the market.

With prices now significantly lower, the government’s supply-management measures are expected to remain closely watched by consumers, businesses and industry participants in the weeks ahead.

NYSE Expands in Texas as Dallas Emerges as America’s New Financial Hub

New York, Aug 28: The New York Stock Exchange (NYSE) has opened a new regional headquarters in Dallas, marking another major step in Texas’ growing role in the US financial and business landscape.

The move reflects the increasing importance of Texas as a centre for financial services, investment, technology and corporate activity. Dallas has attracted a growing number of companies and financial professionals in recent years, strengthening its position as an alternative to traditional US financial centres.

The opening of the Dallas office also highlights the changing geography of America’s financial industry. While New York remains the country’s dominant financial centre, cities across Texas are drawing businesses with their expanding corporate base, skilled workforce and growing investment ecosystem.

Texas has increasingly earned the informal nickname “Y’all Street”, reflecting its growing financial presence and its emergence as a rival destination for businesses and investors.

The NYSE’s presence in Dallas is expected to strengthen connections with companies, investors and financial institutions across Texas and the wider southern US. It could also provide greater opportunities for businesses seeking access to capital markets and investor networks.

The development comes as Texas continues to attract major corporate investments across sectors including technology, energy, manufacturing and financial services. The state’s strong business ecosystem has helped reinforce its appeal to companies looking to expand operations or establish new bases.

For the wider US economy, the growing financial footprint of cities such as Dallas signals a broader diversification of economic activity beyond traditional centres. A stronger regional financial ecosystem can support entrepreneurship, investment and job creation while improving access to capital for growing businesses.

The NYSE’s expansion therefore carries significance beyond the opening of a new office. It reflects the changing landscape of American business and the rising influence of Texas in the country’s financial economy.

As Dallas continues to attract companies, investors and financial institutions, its emergence as “Y’all Street” could mark a new chapter in the evolution of the US financial sector.

Fevicol, Visa, Hauser Germany, Birla Opus, Charmis: Raksha Bandhan, Crafted by Schbang

This Raksha Bandhan, Schbang moved beyond the rakhi and mithai clichés to find a sharper cultural insight for each brand, then built the idea around it. Here’s how five brands, across five very different categories, made the festival their own.

1. Fevicol “Bhaiyya Jahan, Chhoti Wahan” / “Didi Jahan, Chhotu Wahan”: The youngest sibling’s default setting is proximity, always tagging along, always right behind. Fevicol borrows its own brand promise of an unbreakable bond and applies it to something every family recognises, the younger one who simply refuses to be separated from the older one, whether it’s toy cars or a doll’s hair getting combed.

2. Visa: “Happily Accepted by Sisters Everywhere” Gifting on Raksha Bandhan has quietly moved from cash envelopes to cards, but the emotion of “acceptance” hasn’t changed. Visa borrows the festival’s own vocabulary of blessings and gifts to position the card itself as something a sister happily accepts, making a payments brand feel native to the ritual rather than bolted onto it.

3. Flair: “Every Millimetre Matters”: Sibling squabbles over sharing, whether it’s a sweet or anything else, are timeless, down to the exact size of the last piece. Flair leans into that familiar bickering, using a ruler to measure out a mithai slice with mock precision, turning a stationery product into the tool for the oldest sibling argument there is: fairness.

4. Hauser Germany: “For Every Mistake Your Sibling Helped You Erase” The insight: a sibling’s role often isn’t the grand gesture, it’s the quiet clean-up, the bad haircut, the text you shouldn’t have sent, the terrible business idea. Hauser ties this idea to its own product, the eraser, turning a stationery item into a metaphor for the sibling who’s always helped rub out life’s smaller mistakes.

5. Birla Opus PaintCraft: “Some Memories Need No Frame”: Childhood memories with siblings aren’t preserved in photo frames, they’re preserved in the homes they were made in. By setting a simple, joyful sibling moment against a freshly painted wall, the brand repositions paint from a functional purchase to the quiet backdrop of lasting memories.

6. Charmis: “Soft Ties That Never Get Undone”: A rakhi is a tie that’s temporary, but the bond it represents isn’t. Charmis extends that idea to its own category, skincare, framing its products as a form of care that, like sibling love, is meant to last well beyond the ritual of the day.

Sensex Rebounds Over 400 Points as IT Stocks Lead Market Recovery

Mumbai, Aug 28: Indian equity markets staged a strong recovery on Friday, with the Sensex gaining more than 400 points and the Nifty moving above the 24,150 mark as investors returned to technology stocks.

The rebound came after two consecutive sessions of losses and was supported by positive global cues and renewed optimism around the technology sector. The sharp rise in US technology stocks, led by Nvidia’s strong outlook, helped improve sentiment towards Indian IT companies.

The Nifty IT index emerged as one of the strongest performers, gaining around 3 per cent. Major IT stocks, including TCS, Infosys and HCLTech, witnessed strong buying interest as investors responded positively to the global technology rally.

The recovery provided some relief after Thursday’s highly volatile session, when the domestic market witnessed sharp movements towards the close. Investors were therefore closely watching whether Friday’s gains would develop into a broader recovery.

Global markets also provided support. US equities ended higher in the previous session, with the Nasdaq gaining more than 1.5 per cent after Nvidia’s upbeat revenue outlook strengthened confidence in continued artificial intelligence-related spending. Nvidia shares jumped sharply, while technology and software stocks across Wall Street also advanced.

The positive sentiment extended to several Asian markets, although trading remained mixed ahead of Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole Symposium. Investors are looking for clearer signals on the US interest-rate outlook, which could influence global capital flows and emerging-market equities.

For Indian markets, the IT sector has become a key source of support. Strong demand expectations for artificial intelligence, cloud computing and digital services are encouraging investors to reassess technology stocks, particularly after the recent weakness in the broader market.

However, the recovery remains sensitive to global developments. Movements in crude oil prices, US bond yields and expectations surrounding monetary policy could continue to influence investor sentiment.

Market participants are also keeping an eye on the unusual volatility witnessed during Thursday’s closing session following the introduction of the new Closing Auction Session. The sharp swings near the market close have added another layer of uncertainty for traders.

Despite these concerns, Friday’s rebound indicates that investors are willing to return to beaten-down sectors when global cues improve. The sustainability of the recovery will now depend on whether buying spreads beyond IT stocks and whether the Nifty can maintain levels above 24,150.

For the near term, investors are expected to remain focused on IT stocks, global technology trends, US monetary-policy signals and domestic market volatility as they assess the next direction of the Sensex and Nifty.

Digital Payments to Merchants Rise 19.6% to Rs 11.7 Trillion in July

New Delhi, August 28: Digital payments made to merchants across India rose 19.6 per cent year-on-year to around Rs 11.7 trillion in July 2026, highlighting the continued shift towards digital transactions among consumers and businesses.

The growth comes amid sustained expansion in India’s digital payments ecosystem, with Unified Payments Interface (UPI) continuing to play a central role in everyday retail transactions. According to data from the National Payments Corporation of India (NPCI), UPI processed a record 2,365.8 crore transactions in July, with the total value reaching around Rs 29.87 lakh crore.

The July UPI figures represented the highest monthly transaction volume recorded since the platform was launched in 2016. Transaction volumes had crossed the 2,300-crore mark for the first time in May, before rising further in July, underscoring the rapid adoption of real-time digital payments.

The rise in merchant payments reflects the growing use of digital transactions for everyday purchases, ranging from small retail payments and food and grocery purchases to payments for services and larger transactions. QR-code payments and smartphone-based payment applications have also made it easier for small businesses and merchants to accept electronic payments.

UPI’s growing penetration has been particularly significant for small-value transactions. Industry data cited by the India Brand Equity Foundation shows that person-to-merchant payments accounted for about 63 per cent of UPI transaction volume, while 86 per cent of P2M transactions in FY2026 were below Rs 500.

For merchants, the expansion of digital payments can improve transaction convenience, reduce dependence on cash handling and create electronic records of sales. For consumers, instant payments provide a faster and increasingly familiar alternative to cash and traditional payment methods.

The broader digital payments expansion is also contributing to India’s financial inclusion and formalisation objectives. As more small businesses accept digital payments, transaction histories can potentially support access to formal financial services and technology-enabled business solutions.

The growth comes as UPI marks a decade since its launch. The government said the number of banks live on the UPI platform had reached 741 by July 2026, compared with 21 banks at the time of its launch. UPI accounted for about 84 per cent of India’s digital payments in FY2025-26, according to government data.

The platform is also expanding its international footprint, with UPI operational in countries including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius and Qatar. The government has highlighted the system’s interoperability and scale as key factors behind its growing global recognition.

The latest merchant-payment figures therefore point to a broader structural change in India’s payments landscape. With consumers increasingly accustomed to instant digital transactions and merchants expanding acceptance infrastructure, digital payments are becoming an integral part of everyday commerce and India’s wider digital economy.

TECNO brings segment-first IP69 Durability to the masses with the new SPARK Go 3 Pro

New Delhi, Aug 28: TECNO has launched the SPARK Go 3 Pro in India, bringing segment-first IP69 durability to an accessible price point. Built to survive high-pressure water jets, heavy dust and drops, the device is crafted for demanding real world conditions – from rain-soaked delivery routes to dusty agricultural fields.  

The TECNO SPARK GO 3 Pro is designed for people whose phones don’t get the luxury of a controlled environment – a farmer checking prices in the field, a delivery worker caught in the rain, a student commuting in a crowded bus. It’s a fitting embodiment of TECNO’s new tagline, ‘Desh Jaisa Dumdaar.’

Speaking on the launch, Mr. Arijeet Talapatra, CEO, TECNO Mobile India, said:

“For millions of people, a smartphone isn’t a luxury item- it’s an essential tool for their livelihood. When your phone is central to how you earn a living, accidental damage stops your entire day in its tracks. We engineered the TECNO SPARK Go 3 Pro so hard-working users never have to baby their device, giving them total peace of mind through every shift, rainstorm, and commute.”

Beyond its exterior toughness, the TECNO SPARK Go 3 Pro is equipped to handle full working days under the hood. It pairs a fluid 120Hz display with a massive 5200mAh battery that keeps going without midday charging breaks. To ensure clear communication in chaotic environments, AI Voiceprint Noise Cancellation actively filters out background racket, complemented by an integrated IR remote for quick appliance control.  

MFTA and Central Bank of Jordan Advance Comprehensive Fintech Agenda in High-Level Amman Meeting

Amman, Jordan – Aug 28: The MENA Fintech Association (MFTA) has concluded a high-level strategic meeting with the Governor and Deputy Governor of the Central Bank of Jordan, H.E. Ziad Ghanma, alongside senior CBJ leadership, the Securities Commission of Jordan, and GIZ.

The meeting, convened in Amman by MFTA Chairman Nameer Khan, underscored Jordan’s growing importance within the broader MENA fintech landscape. Jordan has steadily built a reputation as one of the region’s most credible and proactive regulatory environments, anchored by the Central Bank of Jordan’s early commitment to fintech innovation through its regulatory sandbox framework, a mechanism that has enabled a growing number of licensed entities to test, refine, and graduate into fully regulated operation within the Kingdom.

Discussions in Amman covered a comprehensive fintech agenda, reflecting the depth and maturity of the relationship between MFTA and Jordan’s financial regulatory leadership. Particular emphasis was placed on Jordan’s potential to attract greater foreign direct investment into its fintech and financial services sector, building on the strong regulatory foundation the Central Bank of Jordan has established in recent years.

 Speaking following the meeting, MFTA Chairman Nameer Khan said:

“Jordan’s regulatory leadership has done something genuinely rare in this region. They have built a sandbox environment that does not just test ideas, but graduates them into real, licensed, operating businesses. That is the mark of a regulator that understands innovation is not a risk to be managed, but an opportunity to be enabled. Jordan’s role in the growth story of MENA’s fintech sector is significant, and it is only growing from here. We are proud to stand alongside the Central Bank of Jordan in this journey.”

Further details will be announced in due course.

Chakan–Talegaon Needs Better Roads Before Growth Slows Down

An Open Appeal to the Government of Maharashtra, PMRDA, PCMC and MIDC

– By Anil Pharande, Founder & Chairman – Pharande Spaces

Sixteen years ago, in August 2010, we warned in an article entitled ‘Road Development: The Key to Pune’s Real Estate Growth’ that road infrastructure would be one of the biggest drivers of Pune’s future growth. The warning then was simple – if infrastructure did not keep pace with expansion, fast-growing areas would eventually struggle under their own weight. That is exactly what is now happening in the Chakan–Talegaon corridor.

Today, traffic congestion is no longer an inconvenience. It is a fatal public safety crisis. A recent internal report by the Pimpri Chinchwad police reveals that 152 commuters have died, and over 200 have been injured, in road accidents in the Chakan industrial belt since 2024. The highest number of these fatal crashes occurred on the exact stretches that suffer from severe infrastructural neglect – the Talegaon-Chakan and Chakan-Shikrapur corridors.

A Fast-Growing Corridor Under Pressure

Pimpri-Chinchwad has grown over decades with a stronger civic base and a more established urban structure. PCMC covers about 181 sq km, and its official website records a 2011 Census population of 1,729,359, with the current population estimated at around 2.5 million. In contrast, the Chakan–Talegaon belt has expanded rapidly as an industrial and logistics corridor.

This growth has brought major investment and employment, but it has also placed heavy pressure on roads, bridges, junctions, transport systems and basic services. Without stronger road planning and better coordination between agencies, the gap between growth and infrastructure will only widen.

The Connectivity Gap

One of the clearest problems in this region is the break in continuity between better-developed urban roads and the weaker links that connect them to industrial areas beyond. The Indrayani River crossings are an important part of this movement network, especially for traffic moving between PCMC and the Chakan side. In several stretches, road conditions and carrying capacity change sharply once vehicles move across jurisdictions.

This results in congestion, delays, freight bottlenecks and poor travel reliability for both workers and goods vehicles.

What Should Be Done Immediately

• Complete the missing road links: PMRDA has already identified key missing-link road projects in this region. These include the Talegaon–Chakan Highway connection from Hingane Chowk to Chakan Industrial Estate, the Nanekarwadi to Samruddhi CNG Pump stretch, and the Western Bypass connection linking Pune–Nashik NH60, Chakan MIDC and Talegaon’s side toward the Old Mumbai–Pune Highway.
• Upgrade river crossings and approach roads: The bridges and road connections serving movement across the Indrayani side need immediate attention. New bridge capacity, widening works, stronger approach roads and better junction planning should be taken up wherever traffic demand justifies it.
• Speed up review of the Bhosari–Chakan proposal: A revised DPR submitted by Maha-Metro reportedly includes a proposed Bhakti Shakti–Chakan Metro project, with a 17-km double-decker section between Bhosari and Chakan combining an elevated road and metro alignment.
• Promote planned housing, not scattered growth : Chakan and Talegaon have the potential to become stronger residential destinations for the workforce employed in the industrial belt. But housing growth cannot be left to happen in a scattered and unplanned way.

The Chakan–Talegaon belt is too important to Maharashtra’s industrial and employment future to be held back by delays, fragmented planning and weak last-mile connectivity. This corridor’s economic value in now byond any dispute, but it is in dire need of the infrastructure backbone to match this importance and unlock its full potential.

Anil Pharande is Chairman of Pharande Spaces, a leading real estate construction and development firm famous for its township projects in Greater Pune and beyond. Pharande Promoters & Builders, the flagship company of Pharande Spaces  and an ISO 9001-2000 certified company. Established in 1994, the company has built a substantial footprint of premium gated communities, massive integrated townships and high-grade commercial office and retail projects. Thjey are widely recognized for theirs focus on modern, green township living concepts and high-quality construction .

Disclaimer: The views and opinions expressed in this article are solely those of the author, and do not necessarily reflect the views of the publication.

Last-Minute Raksha Bandhan Gifting Made Easier with Premium Fashion, Beauty and Lifestyle Picks on Myntra’s M-Now

Aug 28: This Raksha Bandhan, Myntra’s M–Now brings together a curated selection across premium fashion, beauty, jewellery, watches, perfumes and accessories, with delivery starting in 30 minutes. For shoppers putting together their celebrations closer to the occasion, the assortment also includes 1,500+ Rakhis, making it easier to find both a thoughtful gift and the festive essential in one place. 

From festive fashion and beauty favourites to watches, accessories and Rakhis, here are some options to explore this Raksha Bandhan.

Festive fashion from Libas, DIWAS by Manyavar, BIBA, Indo Era and trueBrowns 

A new festive look can be just as thoughtful as a traditional gift. Myntra’s M–Now offers ethnic and occasion wear from brands including Libas, DIWAS by Manyavar, Indo Era, BIBA and trueBrowns, making it easier to find styles suited to Raksha Bandhan celebrations.

Beauty and fragrance from YSL, Estée Lauder, Forest Essentials and more

For beauty enthusiasts, skincare, fragrance and personal care make for thoughtful gifting choices. Options from YSL, Estée Lauder, Forest Essentials, Dyson, Beauty of Joseon, Carolina Herrera, Prada and Victoria’s Secret allow shoppers to choose according to individual preferences.

Watches and accessories from Titan, Timex, Armani Exchange, Calvin Klein and Tommy Hilfiger

For siblings who prefer gifts that combine style with utility, watches and accessories from Titan, Timex, Armani Exchange, Calvin Klein and Tommy Hilfiger offer versatile choices across everyday classics and more elevated festive picks.

Rakhis to complete the celebration 

The assortment also includes silver Rakhis, alongside classic, contemporary and premium designs from brands such as GIVA, Palmonas and Zaveri Pearls, which also offer a range of jewellery options to gift your sister this Raksha Bandhan. 

Handbags and accessories from ALDO, Chumbak, GUESS, Hidesign, Love Moschino and Theater

For siblings who lean towards everyday style essentials, handbags and accessories from ALDO, Chumbak, GUESS, Hidesign, Love Moschino and Theater make for practical yet fashion-forward gifting options that extend well beyond the festive occasion.

For last–minute Raksha Bandhan gifting

For those shopping closer to the occasion, M–Now makes it easier to find a thoughtful gift without the last–minute scramble, with an expanded selection of premium fashion, beauty and lifestyle options. The service is live across Bengaluru, Mumbai, Delhi NCR, Kolkata, Chennai, Hyderabad, Pune, Patna, Jaipur, Lucknow and Ahmedabad, offering access to 1 lakh+ SKUs from 1,000+ brands. With delivery starting in 30 minutes, it brings greater choice and convenience to festive gifting.