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, 67% of people have gone ahead to the SIP route and not the lump sum route, which means that they are looking to the long term for investing and not really looking at a one-time payment or a one-time investment for the short run.

The Indian rupee hit a more-than-six-week low against the U.S. dollar on Wednesday, in line with the decline in other Asian currencies that tracked the fall in the Chinese yuan after weak economic data. The rupee hit 82.4425 against the U.S. dollar, its lowest since April 3, during the session, before recovering to close up 0.21% at 82.38. The Chinese yuan fell to 7.

In the overseas market, both gold and silver were trading lower at USD 1,992 per ounce and USD 23.82 per ounce, respectively.

ICICI Direct has identified two IT stocks that it believes will weather the current macroeconomic headwinds and deliver industry-leading growth in FY24. Persistent Systems and Happiest Minds are both expected to benefit from the digital transformation of enterprises, with Persistent Systems crossing the $1 billion-revenue threshold in FY23 and Happiest Minds being given a target price of Rs 1,038 by the brokerage. Despite the broader macro concern that discretionary digital spend is getting postponed

Nifty on Wednesday formed a long negative candle with a lower shadow on the daily charts, indicating support-based buying despite pressure at high levels. Now, it has to hold above 18,181 zones to witness an up move towards 18,333 and 18,400 zones, while on the downside supports are placed at 18,081 and 18,018 marks. Chandan Taparia of Motilal Oswal said India VIX was down by 1.39% from 13.

IndiGo is expected to post significant growth in earnings in the fourth quarter as compared to the previous year period. However, the sequential growth will likely be muted after a strong third quarter, albeit with a steady momentum. Net sales for the quarter could rise up to 75% year-on-year (YoY) to Rs 14,164 crore, according to an average estimate of five brokerages, mainly driven by a sharp improvement in passenger levels and an increase in overall yields.

Brightcom Group stock shot up nearly 5% on Wednesday, extending gains to 12 consecutive sessions. The stock, held by ace investor Shankar Sharma, has gained nearly 75% since it hit its 52-week low of Rs 9.35 on May 2, 2023. Sharma held 25,000,000 shares in the company as of March 2023 quarter, which accounted for 1.24% stake. On the movement, technical analyst Nilesh Jain said the stock trades circuit-

The 30-share BSE benchmark Sensex declined 372 points or 0.60% to settle at 61,560. The broader NSE Nifty dropped 105 points or 0.57% to end at 18,182.

A group term insurance policy is a term life, which means that if somebody dies, then there is a benefit, large sum of money which is given to the nominee. But if a person survives, then nothing is given and it is a group term because it is typically issued, a company buys it for its employees or a group buys it for its members. So, it is bought by a company rather than by an individual.