Top Gainers in Today's Trading Session - 16th September 2024

Vaibhav Suryavanshi, a 14-year-old cricket prodigy, made headlines by becoming the youngest player to score a century in the Indian Premier League (IPL). His remarkable feat was celebrated by Rajasthan Royals coach Rahul Dravid, who stood up from his wheelchair to applaud the young talent. Suryavanshi's explosive batting helped his team chase down a daunting target of 210 runs in just 16 overs, showcasing his immense skill. The victory not only brightened the Royals' playoff hopes but also created a memorable moment for cricket fans at the Sawai Maan Singh Stadium in Jaipur.

The Reserve Bank of India (RBI) has announced a significant change for banks and financial companies. Starting May 1, 2025, all such entities must use the PRAVAAH portal to submit applications for licenses and approvals. This user-friendly online platform, launched in May 2024, aims to streamline the application process and enhance transparency. Despite its success, with around 4,000 applications already submitted, some institutions were still relying on outdated methods. By making PRAVAAH mandatory, the RBI hopes to speed up processing times and improve the overall efficiency of regulatory approvals.

A recent terror attack in Pahalgam, Jammu & Kashmir, claimed the lives of 26 people, mostly tourists, escalating tensions between India and Pakistan. Following this tragedy, Pakistani troops have violated the ceasefire along the Line of Control for five consecutive nights. The Indian Army reported unprovoked firing from the Pakistani side in areas opposite Kupwara, Baramulla, and Akhnoor, prompting a swift and measured response from Indian forces. The situation remains tense, with New Delhi urging all Pakistani nationals who entered India through the Attari border to leave by May 1.

Akshay Kumar's film Kesari 2 is experiencing ups and downs at the box office. After a strong second weekend, the movie faced challenges on Monday, despite offering a Buy One Get One free ticket promotion. However, film analyst Taran Adarsh believes that discounted tickets on Tuesday and a holiday on Thursday will boost earnings. Based on the life of Indian barrister C Sankaran Nair, who fought for justice after the Jallianwala Bagh massacre, Kesari 2 has received positive word-of-mouth. In its 11 days, the film has collected ₹68.4 crore in India and ₹105 crore worldwide.

The 2025 Canada Election has resulted in Mark Carney, the Liberal leader, likely returning as prime minister, but it's still uncertain if he will have a majority government. Millions of Canadians cast their votes on Monday, and the polls closed at 7:45 am IST. Early trends show the Liberals leading with 146 seats, while Conservatives have 106. The winning party will face significant challenges, including managing the cost of living crisis and handling US President Trump's tariff threats. With record voter turnout, this election marks a critical moment for Canada’s future.

Gold prices have taken a dip as easing trade tensions between the U.S. and its partners have reduced its appeal as a safe investment. Investors are keenly awaiting U.S. economic data to understand future policies from the Federal Reserve. Treasury Secretary Scott Bessent mentioned that India is likely to be among the first to finalize trade deals with the U.S., which could further improve market conditions. Despite positive signs, economists warn of a potential recession, raising concerns over the impact of tariffs on business sentiment. Long-term trends suggest that gold prices may continue to rise due to economic uncertainties.

Union Minister Piyush Goyal has embarked on a pivotal two-day visit to London, focusing on enhancing trade and investment ties between India and the UK. His discussions with industry leaders, including Martin Gilbert of Revolut, highlighted the vast potential of India’s fintech sector and the need for global partnerships to foster innovation. Goyal's meetings extended to the Gems and Jewellery industry, emphasizing sustainable practices and growth opportunities. He also engaged with an Indian business delegation to explore collaboration avenues, while efforts to relaunch Free Trade Agreement negotiations between the two nations are underway, aiming for mutual prosperity.

Foreign Institutional Investors (FIIs) continue to show confidence in the Indian market, with an impressive inflow of ₹8,250 crores over the last seven days. Meanwhile, easing tensions in the US-China trade war and India's potential trade deal with the US add to the positive sentiment. Om Mehra, a technical analyst, believes that the Bank Nifty Index remains on an upward trend, suggesting a healthy consolidation ahead. Key support levels are at 54,200 and 53,500, while resistance is at 55,400. Investors should stay cautious due to possible market volatility from geopolitical factors.

Smartphones are now essential in our daily routines, making tasks like shopping and banking easier. However, they can also be distracting, especially when working, studying, or driving. Instead of switching your phone to airplane mode, which cuts you off completely, using Do Not Disturb (DND) mode can help manage distractions. This mode allows you to silence notifications while still receiving important calls. Setting up DND varies by phone brand, but it generally includes options for customizing settings, scheduling, and emergency bypass for select contacts. Learning to use these features can greatly enhance focus and productivity.

Apple has released a significant study by Professor Viswanath Pingali from IIM Ahmedabad, revealing the economic impact of its App Store in India. The report states that the App Store has generated an impressive Rs 44,447 crores ($5.31 billion) in sales, with 94% of this revenue going directly to developers. Over the past 15 years, Indian developers have thrived, creating successful apps in various categories like games and health. Interestingly, 80% of their earnings in 2024 came from users outside India. The App Store continues to support small developers, with their earnings rising by 74% since 2021, showcasing a vibrant and growing app ecosystem in India.

Zomato CEO Deepinder Goyal recently responded to criticism over the company's policies for delivery partners and restaurants. He strongly denied claims that Zomato is losing market share or forcing employees to order from their platform. Goyal emphasized the importance of freedom of choice for employees and expressed gratitude to those who raised concerns. However, some former employees brought up issues like a rule against ordering from competitor Swiggy. Goyal's statements highlight the ongoing debate about Zomato's practices and its impact on partners and delivery workers in India’s competitive food delivery market.

The Reserve Bank of India (RBI) is taking a strong step to fight digital payment fraud by introducing the exclusive ‘.bank.in’ domain for Indian banks. This new internet domain aims to enhance security and build trust in digital banking by ensuring that only RBI-regulated banks can register under it. Banks must complete the migration to this domain by October 31, 2025. Currently, many banks use generic domains like ‘.com’ or ‘.co.in’, which can be easily imitated by fraudsters. This initiative will significantly reduce cyber threats and protect customers from phishing scams, making online banking safer for everyone.

In a recent interview, Martin Wolf from the Financial Times shared insights on the ongoing trade war between the U.S. and China. He believes that China is likely to emerge stronger than America from this conflict. For countries like India, which have vital trade ties with both nations, the challenge is to maintain a balanced approach. India’s historical ability to navigate complex situations gives it an edge, allowing it to avoid taking sides. Wolf emphasizes the importance of not turning China into an outright enemy, as the future of U.S.-China relations remains unpredictable.

Virat Kohli, the star batter for Royal Challengers Bengaluru (RCB), emphasized the significance of their recent win against Delhi Capitals (DC) in the IPL 2025 season. This victory marked RCB's seventh win, placing them at the top of the points table. Kohli and Krunal Pandya forged a crucial 119-run partnership, with Kohli scoring 51 runs and Pandya impressing with an unbeaten 73. Kohli highlighted the need to adapt to challenging conditions and praised his teammate's performance, showcasing strong team communication. With a powerful batting lineup and skilled bowlers, RCB looks promising as the tournament progresses.

Donald Trump is about to complete the first 100 days of his second term as U.S. President on April 29. However, a recent CNN poll reveals that many Americans have a negative view of his performance. Trump's approval ratings have declined significantly, especially among women and Hispanic Americans. Only half of the respondents believe he can manage the economy effectively, marking a low point in his career with a 39% approval rating. Critics argue that his “America First” policy has damaged relationships with allies and strengthened adversaries, leaving uncertainty in international relations.

Sawai Mansingh Stadium in Jaipur is known for its balanced pitch, supporting both batters and bowlers. In previous matches, chasing teams have triumphed 38 out of 59 times, so the team winning the toss will likely choose to bowl first. A target of 175-190 runs is considered average for the upcoming match. The weather forecast indicates a hot day, starting at 38 degrees Celsius and cooling to 31 degrees by the end, with little chance of rain. Historical data shows Rajasthan Royals and Gujarat Titans have faced off multiple times, with Gujarat winning most of their encounters.

India is on the verge of sealing a massive ₹63,000 crore deal for 26 Rafale Marine combat aircraft with France. This agreement, set to be signed in Delhi, involves key officials from both countries. The Rafale M jets will be tailored for Indian needs and will enhance the capabilities of INS Vikrant, acting as a temporary solution until India develops its own carrier-borne fighter jet. This deal, which includes various support services and training, will increase India's Rafale fleet to 62 aircraft, significantly strengthening its air force capabilities.

Astronomers have made a groundbreaking discovery with the James Webb Space Telescope, identifying the most distant galaxy ever observed, named RUBIES-UDS-QG-z7. This "dead galaxy" has stopped forming stars, a surprising finding since scientists believed only active star-forming galaxies should be visible from the early Universe. The galaxy, which ceased star formation when the Universe was just 700 million years old, highlights the processes that lead to galaxy formation and "quenching." Understanding these ancient galaxies is crucial as they may hold the secrets to how massive galaxies formed in the early cosmos.