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Stock Market Updates: Paytm Down 5%, Sensex Gains 200 points, and Nifty Above 21,900

Markets Today: On Thursday, benchmark equity indexes began trading higher as other international markets bounced back from selling that had occurred the day before. The NSE Nifty gained 65 points to 21,900 while the BSE Sensex increased 200 points to 72,044 points.

Leading risers on the Sensex and Nifty were M&M, Wipro, NTPC, HCLTech, Infosys, Tech M, TCS, and Power Grid.

Conversely, the top frontline losers were Ultratech Cement, HUL, Axis Bank, and Nestle.

The BSE SmallCap and MidCap indexes both saw increases of around 1%, which was comparatively higher.

Paytm drops 5% and reaches a new low after the ED’s FEMA inquiry.

According to reports, the Directorate of Enforcement (ED) has opened a pre-open inquiry or preliminary investigation into claims of breaches pertaining to the Foreign Exchange Management Act (Fema) in the Paytm Payments Bank issue. It is said that ED asked the central bank for further information on the subject.

Worldwide Cues

Thursday saw gains in Asian equities, with the Nikkei breaking above a record 34-year high. Meanwhile, the dollar eased off around a three-month high as investors gauged when the Federal Reserve would likely begin its easing cycle after a string of positive economic data.

Thursday’s opening of Tokyo equities was positive as Wall Street recovered, allaying concerns about inflation.Early trading saw gains of 1.06 percent, or 399.95 points, on the benchmark Nikkei 225 index, while the Topix index as a whole gained 0.40 percent, or 10.31 points, to 2,594.90.

On Wednesday, Wall Street closed substantially higher as ride-hailing services Lyft and Uber saw a surge in value. Meanwhile, Nvidia overtook Alphabet as the third most valuable firm in the U.S. stock market.

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