The government’s 0.4% Merchant Discount Rate on UPI payments above ₹2,000, effective on October 15, has nudged fintech stocks into the green.
Paytm’s stock jumped 7.24% intraday to a 52‑week high of ₹1,856.50 on the BSE, while trading at ₹1,767.05 by 9:29 am. The rise followed a filing from Paytm that the new fee structure will add revenue from previously free merchant transactions.
One Mobikwik Systems leapt 5.96% to ₹203.90, but later slipped 2% as sentiment cooled. Pine Labs up 2.68% at the open, only to fall nearly 7% by mid‑trade, reflecting a mixed sector response.
The BSE Sensex opened at 74,249.31, nudging up 0.58% to 74,429.37 by 1:22 pm, while the NSE Nifty 50 rose 0.60% to 23,258.35. Oil prices hovered near $108 for Brent and $104 for WTI, adding pressure to commodity‑heavy indices.
Looking ahead, the MDR is expected to lift Paytm’s merchant‑side revenue, but the upcoming Fed policy meeting could temper risk appetite. Investors will watch how the fee impacts earnings in the next quarter.