Indian shares rebound led by lenders

Indian shares rose on Wednesday led by gains in lenders and payment firms following a new fee on UPI transactions. High oil prices and caution ahead of a U.S. Federal Reserve rate hike capped gains.

Xurve View
Insights:
FILE PHOTO: Statues of people and a bull are seen next to the logo of the National Stock Exchange (NSE) in Mumbai, India, September 6, 2024. REUTERS/Francis Mascarenhas//File Photo

Indian shares rose 0.45% on Wednesday afternoon following a recent slide, driven by lenders and payment firms after a government fee on UPI transactions. The rebound follows a 1% drop in benchmarks on Tuesday and a 5% decline over the previous five weeks. High oil prices and caution ahead of an expected United States Federal Reserve rate hike capped further gains.

IUX24

IUX24 AI-powered financial news and market intelligence. Think and act like smart money.

IFZA Properties, Dubai Silicon Oasis, DSO-IFZA, Dubai, United Arab Emirates

Copyright IUX24 MEDIA - FZCO. All rights reserved.

Powered by AI • Made with precision

IUX24 is an information and analytics platform providing news, market data, analytical tools, and AI-powered features for informational and educational purposes. The Services and information provided do not constitute investment advice, trading signals, or brokerage services. Investing involves risk, and Users should carefully evaluate information before making investment decisions.