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The move comes at a time when digital gold is gaining importance in the Indian market and is becoming a hit with millennials, primarily due to ease of investing. One can invest digitally without any hassle and purchase 24K pure gold with even Re 1.

Nifty50 approaches the weekly options expiry on Thursday. And the data does not offer any major directional cues. It largely hints at Nifty staying within a broadly defined range.

Bulk of the investors about 70 per cent or even more have invested about Rs 1000-Rs3000, perhaps there is an effort to enroll as many people as possible, Das said.

The Dow Jones Industrial Average fell 20.73 points, or 0.06 per cent, at the open to 36,299.25.

While the over-Rs 18,000-crore stock offering managed to sail through on the final day of the issue, domestic mutual funds cumulatively bid for merely 348,828 shares of the 48.4 million on offer to investors. This was one of the lowest participation from mutual funds in an IPO in recent memory.

The calamitous decline in steel futures in China because of a rapidly slowing Chinese economy is raising concerns of a similar scenario in India. While steel companies did raise prices again earlier this month, some analysts are skeptical about how long they will be able to sustain it.

As of now, brokerages offer trading and demat account opening facilities to NRIs only as a single category and not linked to an NRE and NRO accounts but a single savings/current account.

Nykaa shares extended their rally during the day and settled at Rs 2208.35, 96 per cent over its issue price of Rs 1,125 per share.

Gaurav Ratnaparkhi of Sharekhan said the index breached its key hourly moving averages initially but there was no follow-through selling.

In the international market, gold was trading lower at USD 1,827 per ounce and silver was flat at USD 24.30 per ounce.