Indian Stock Markets Expected to Advance on Monday

first_imgIndian stocks markets are expected to advance for the first time in three sessions on Monday, as firm trend in global markets may offer support to investor sentiment.The BSE Sensex and NSE Nifty witnessed a volatile session and ended with losses for the second straight session on Friday, as gains in realty and power sector shares were offset by declines in consumer durables, IT and FMCG sectors.Asian stock markets gained on Monday after Lawrence Summers withdrew from the race to be head of the Federal Reserve, paving the way for Janet Yellen, who is expected to favor a slower reduction in $85 billion monthly asset-buying program.”It’s quite positive for equities. It puts Yellen back on the cards as the favorite. She’s more aligned to retaining accommodative policy and is seen as not being as brash as Summers might have been,” George Boubouras, Melbourne-based chief investment officer at Equity Trustees Ltd., where he helps oversee about $28 billion, told Bloomberg.Hong Kong’s Hang Seng surged 1.30 percent and South Korea’s KOSPI advanced 0.70 percent, while Japan’s benchmark Nikkei 225 rose 0.12 percent and China’s Shanghai Composite rose 0.23 percent.US stock markets ended with gains on Friday as weaker-than-expected retail sales and consumer sentiment data raised hopes that the Federal Reserve stimulus cuts this month would be moderate. The Dow Jones Industrial Average gained 0.49 percent, the S&P 500 Index was up 0.27 percent and the Nasdaq Composite Index rose 0.17 percent.Data released by US Commerce Department on Friday showed that retail sales, which measures consumer spending that accounts for a bulk of the country’s economic activity, rose 0.2 percent in August, weaker than analysts’ estimation of 0.5 percent gain. Meanwhile, Thomson Reuters/University of Michigan preliminary index of consumer sentiment declined to 76.8 in September, the lowest level since April, down from 82.1 last month and also fell short of Bloomberg’s estimation of 82.last_img read more

NPCI shows green flag to WhatsApp Payments in India service limited to

first_imgWhatsApp Payments available in IndiaIBTimes India/Sami KhanThe NPCI (National Payments Corporation of India) on February 17, has given nod for the preliminary launch of the WhatsApp Payments in India. The corporation has approved the beta testing of the UPI-based service but only for one million users and with a restricted transaction limit.The popular messaging app has already started rolling out the new feature in India for a limited number of users.The NPCI said in an official statement: “Currently, the NPCI has given its consent to roll out WhatsApp BHIM UPI beta launch with the limited user base of one million and low per transaction limit. Four banks will join the multi-bank BHIM UPI model in phases (in the coming weeks) and full feature product shall be released after the beta test is successful.” WhatsApp Payments: List of banksIBTimes India/Sami KhanThe NPCI, according to its official website, “is an umbrella organization for operating retail payments and settlement systems in India.” It has been working to make the digital payments smoother in the country since it was formed in 2009. It is also responsible for rolling out globally recognized products like BHIM-UPI (Bharat Interface for Money).With the introduction of UPI service, WhatsApp will face a number of competitors in the Indian market like Paytm, PhonePe, Tez, and others. In a recent statement, Paytm Founder Vijay Shekhar Sharma was critical of WhatsApp’s upcoming UPI payment service and raised some safety concerns. Nice ! I hope full obligation of BHIM like security and tx data sovereignty too will be implemented before full launch. https://t.co/P8vjvkzkgz— Vijay Shekhar (@vijayshekhar) February 16, 2018Sharma stated that the WhatsApp’s UPI payment system is not secure as it does not comply with the existing guidelines. He also alleged that Facebook was “killing beautiful open UPI system with its custom close garden implementation.”WhatsApp has over 250 million active users in India. WhatsApp Payments integration is expected to help many small-scale merchants and normal users to send and receive money through digital transactions.last_img read more

Vandalism over Facebook post section 144 imposed

first_imgfaridpurPolice detained a youth from Malo Para in Krishnopur union of Sadarpur upazila in Faridpur on Thursday for posting a photo on his facebook wall demeaning the Holy Kaaba, reports UNB.The detainee is Brishna Malo.Chairman of the Union Parishad Billal Hossain said enraged by the facebook post, locals vandalised the house of Brishno in Malo para and his business establishment at a local bazar at noon.On information, police rushed to the spot and brought the situation under control. They also held Brishna.Sadarpur Upazila Nirbahi officer Purobi Goldar said that section 144 has been imposed from 3pm on Thursday to 6pm on Friday to avoid any untoward situation.last_img read more