The Indian market saw a strong session, with the Nifty touching the 25,200 mark before some profit-taking. At the Global Fintech Fest in Mumbai, Finance Minister Nirmala Sitharaman announced the integration of real-time forex settlement operations at GIFT City. This move is aimed at making the financial hub more attractive to global investors and will place GIFT IFC among financial centers like Hong Kong and Tokyo that can settle foreign currency transactions locally. The broadcast also featured an interaction with Sam Balsara, chairman of Madison World, on branding in the digital era. He stated, “My suggestion, therefore, is to the growing digital population to create a TV like environment in which digital ads can be delivered.” Sectoral movements were also in focus, with banking and real estate showing strength, while IT and metal stocks saw profit booking.
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