Paytm share price tanks 10%; why fintech stock is down today?

Share Price Today: Shares of One 97 Communications Ltd, the parent of Paytm , today (June 12) crashed 10 per cent after the Ministry of Finance dismissed reports claiming the government may levy merchant discount rate (MDR) on UPI transactions. Paytm shares opened gap down with a loss of 5 per cent at Rs 913.05 versus the previous close of Rs 960.45. The counter made a low of Rs 864.40 in early morning deals, down 10 per cent. At 10 AM, Paytm shares traded in the red with a cut of 7.80 per cent at Rs 886 apiece. As many as 8.06 crore shares of the company changed hands around the same time. Paytm shares are falling for the last three consecutive trading sessions and trading higher than 50-day, 100-day and 200-day moving averages but lower than 5-day and 200-day moving averages.