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"We are cautious on sectors that are levered to global demand and global pricing. Some downgrade possibility remains in those sectors on worsening global growth outlook. On the contrary, we are more confident in domestic demand-oriented sectors. Given high valuations and many global uncertainties on the global front one should not load up."

“Foreigners have been buying this market and have periods of selling the market as well but one of the other big positives for India is the increasingly large domestic buying. If developed markets go another notch lower, then it is unlikely that India would remain unaffected. But, excluding major international events, the Indian market looks fairly well held up and should not be as volatile as in the past.”

“We are committed to encouraging innovation, especially in fintech and we will be supportive of innovation. At the same time we also try to assess what risks it is building up for the system, for the economy and those risks will have to be addressed not by the regulator. It is our responsibility to see that there is no unbridled, unchecked risk build up.”

The stock is trading around overbought levels hence some consolidation cannot be ruled out, but medium-term investors can look to buy the stock now or on dips for a possible target towards Rs 180 which translates into an upside of about 50 per cent from current levels, suggest experts.

"The software major will be paying a rental of around ₹51 per sq ft. The lease term has a five-year lock-in period with a 15-year lease," said three people aware of the deal.

Endurance Technologies, Sakthi Sugars, Pritika Auto Industries, Response Informatics, CNI Research and Howard Hotels will have their annual general meetings (AGM) today. The board of Bharat Gears will meet today to consider the bonus issue. Also, the board of Pressure Sensitive Systems (India) will meet to consider a stock split.

Several technology entrepreneurs and angel investors have been facing challenges in acquiring stakes in foreign fintech companies because until now only non-banking financial companies (NBFCs) registered with the Reserve Bank of India (RBI) were allowed to invest in foreign companies involved in financial services.

In July alone, India imported a record 1,700 tonnes of silver, while in 2021, in the first seven months silver imports were a meagre 110 tonnes, said Chirag Sheth, principal consultant, South Asia, Metals Focus.

State-run refiners source about 60% of their crude oil requirement through term deals, renewed annually, mainly with West Asian national oil companies. The balance is sourced from the spot market, and this year cheap Russian oil has gained a big share in Indian spot purchases.

The aggregators and their lobby group Fintech Association for Consumer Empowerment (FACE) are seeking a relaxation of these norms, which jeopardise the business model, according to them.