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A selloff was triggered after a cheap AI model from Chinese startup DeepSeek climbed to the top of Apple’s appstore, sparking concerns that valuations of the technology may be tough to justify. Japanese stocks fell, with chip-related shares extending Monday’s declines. That was after the S&P 500 dropped 1.5% and the Nasdaq 100 sank 3%. Nvidia Corp., the poster child of the AI boom, suffered the biggest market-cap loss for a single stock in market history.

Bajaj Housing Finance reported 25% year-on-year (YoY) growth in its profit after tax (PAT) to Rs 548 crore in the third quarter, while net interest income rose 25% YoY to Rs 806 crore.

The regulator has appointed Ram Kumar, a former chief general manager at Punjab National Bank, as the Administrator. The regulator also plans to apply to the National Company Law Tribunal (NCLT), New Delhi, to appoint the Administrator as the Insolvency Resolution Professional.

"We have seen a shift toward the pure protection products as compared to the return of premium policies," said SBI Life recently. "Now 57% policies out of the protection segment are with the return of premium whereas the mix in pure protection has increased to 43% and that is being reflected in our product portfolio for the December quarter."

The Reserve Bank of India (RBI) announced measures to inject durable liquidity into the banking system, including a ₹60,000-crore bond purchase and a $5-billion USD/rupee swap auction. These actions are expected to ease liquidity conditions and raise the probability of a repo rate cut in February, providing relief to the banking sector amidst high liquidity deficit concerns.

Foreign portfolio investors (FPIs) sold shares worth ₹1.51 lakh crore during the December quarter and another ₹67,000 crore since January 1. A basis point is a hundredth of a percentage point.

Laurus Labs slumped 11.6%, Aurobindo declined 2%, Cipla fell 1.1% and Strides dropped 5%. Other pharma shares also declined with 19 out of 20 stocks on the Nifty Pharma index ending lower. The pharma index fell 2.7%, while the benchmark Nifty ended 1.1% lower on Monday.

Yields on the 10-year benchmark government security dropped to its lowest levels in almost three years to 6.64% early on Monday due to increasing odds of a rate cut ahead of the monetary policy meeting on February 7. On a closing basis, yields on the 10-year benchmark government security eased four basis points to 6.68%, from its previous close of 6.72%

Mumbai-based wealth management company 360 One Wealth and Asset Management (WAM) on Monday announced the acquisition of Batlivala & Karani Securities and Batlivala & Karani Finserv for Rs 1,884 crore, including Rs 200 crore in cash and cash equivalents.

Adani Cement-owned ACC’s profit doubled on year in the December quarter, aided by robust volume growth, a moderation in fuel costs and a refund related to government grants.