ISRO on Wednesday said it has successfully conducted two hot tests of the Gaganyaan Service Module Propulsion System (SMPS), a key advancement for the Gaganyaan human spaceflight mission.

The hot tests were carried out on July 3 at the ISRO Propulsion Complex (IPRC) in Mahendragiri in Tamil Nadu’s Tirunelveli District.

“Two short-duration hot tests were conducted for the 30s and 100s to validate the test article configuration. The overall performance of the propulsion system during these hot tests was normal as per pre-test predictions,” ISRO said.

"During the 100s test, simultaneous operation of all RCS thrusters in different modes (steady state; pulsed) along with all LAM engines was also successfully demonstrated," the agency added.

While market volatility has made some investors cautious, we’re also witnessing a healthy shift towards hybrid and arbitrage funds -- a trend that shows maturing investor behaviour and a preference for balanced risk strategies in uncertain times, Venkat N Chalasani, CEO of the Association of Mutual Funds in India (AMFI), said on Wednesday.

India’s economic fundamentals remain strong, and we continue to encourage investors to stay committed to their financial goals, he said while presenting the June data for the mutual fund industry.

The mutual fund industry’s assets under management (AUM) crossed Rs 74 lakh crore last month, setting a new milestone. This growth continues to be powered by strong retail participation and the steady rise in SIP inflows, which stood at Rs 27,269 crore for the month.

The number of contributing SIP accounts also touched an all-time high of 8.64 crore, underlining the growing trust in mutual funds as a disciplined investment vehicle.

Mutual fund systemic investment plan (SIP) inflows reached a record high of Rs 27,269 crore in the month of June, rising 2 per cent from Rs 26,688 crore in May, the Association of Mutual Funds in India (AMFI) data showed on Wednesday.

This marks the first time SIP inflows have surpassed the Rs 27,000 crore mark.

The overall net assets under management (AUM) of the mutual fund industry rose to an all-time high of Rs 74.41 lakh crore as against Rs 72.20 lakh crore in May and Rs 69.99 lakh crore in April, according to the AMFI data.

For non-banking finance companies (NBFCs) in India, education loans have been the fastest-growing asset class, clocking over 50 per cent growth in the assets under management (AUM) over the past few years, a report said on Wednesday. This fiscal (FY26), growth is seen moderating to 25 per cent with AUM reaching Rs 80,000 crore.

The pace is likely to halve this fiscal as disbursements for pursuing educational courses in the US decelerate following a raft of policy changes in that country, according to the report by Crisil Rating.

To mitigate the impact, NBFCs are diversifying into new geographies and product adjacencies. While non-performing assets (NPAs) have remained stable so far, asset quality will be monitorable given the global uncertainties and a large proportion of AUM (85) remaining under contractual principal moratorium, the report mentioned.

The Indian benchmark indices opened lower on Wednesday amid mixed global cues as selling was seen in the IT, PSU bank and financial service sectors.

At around 9.34 am, Sensex was trading 181.63 points or 0.22 per cent down at 83,530.88 while the Nifty declined 44.25 points or 0.17 per cent at 25,478.25.

"After a flat to negative opening, Nifty can find support at 25,500 followed by 25,400 and 25,300. On the higher side, 25,600 can be an immediate resistance, followed by 25,700 and 25,800,” said Hardik Matalia from Choice Broking.

According to analysts, a significant takeaway from the recent global market trends is that the markets are largely ignoring the noise from the tariff front and are waiting for clarity to emerge.

Finance Minister Nirmala Sitharaman on Tuesday received dividend cheques to the tune of Rs 5,304 crore on behalf of the government from three public sector banks for the financial year ended on March 31, 2025.

The number of internet subscribers in India increased from 954.40 million at the end of March 2024 to 969.10 million at the end of March this year, with an annual growth of 1.54 per cent, the TRAI data showed on Tuesday.

Out of total 969.10 million internet subscribers, number of broadband subscribers was 944.12 million and number of narrowband subscribers was 24.98 million at the end of March 2025, the Ministry of Communications said in a statement.

The Indian stock market closed in positive territory on Tuesday, inching up in a range of 0.3 per cent, as investors remained cautious ahead of the India-US trade deal which is likely to materialise soon.

Sensex closed at 83,712.51, up 270.01 points or 0.32 per cent against the previous session's closing of 83,442.50. The 30-share index hit an intra-day high at 83,812.31 after starting the session in negative territory at 83,387.03.

Nifty settled 61.20 points or 0.24 per cent high at 25,522.50.

Multi Commodity Exchange (MCX), India’s top platform for trading commodity derivatives, on Tuesday announced that it will launch an electricity futures contract from July 10.

This new offering aims to meet the growing demand for tools that help manage the risks of fluctuating electricity prices.

Praveena Rai, Managing Director and CEO of MCX, said that the new contract would play an important role in making India’s energy markets deeper and more structured.

She also added that the launch would support the country’s goal of achieving a sustainable and market-driven approach to electricity pricing.

The Indian IT services sector is expected to experience a soft quarter growth (Q1FY26) despite the seasonal strength, according to a report released on Tuesday.

IT companies’ earnings are expected to be mixed across the board with a very soft quarter for ER&D services companies on a quarter-on-quarter (QoQ) basis, Equirus Securities said in its report.

The report is being prepared considering Infosys and Tech Mahindra among large-cap IT companies, and Zensar, Mphasis, and KPIT eClerx among mid-cap companies on a relative basis.

The financial service firm sees some sort of modification in Infosys’s FY26 sales growth guidance and soft growth in the top six large-cap IT companies.