Indian bourses continue their upwards trend on Tuesday
The Sensex of the BSE crossed the 63,000 mark to touch a high of 63,036.12 points after opening at 62,839.85 points. It closed at 62,969.13 points, up by 122.75 points. Incidentally, the Sensex all-time high was 63,583.07 points achieved on December 1, 2022. Equity benchmark indices extended their winning streak.
IPL teams give phenomenal returns compared to stock market
According to a research by Treelife, if you had invested Rs 1 lakh in IPL teams it would have far outperformed the Sensex and blue chip stocks. The Rajasthan Royals tops the list with 29 times return, so the Rs 1 lakh invested is now Rs 29.07 lakhs.
IBM confirms acquisition of Polar Security reportedly for $60 mn
Founded in January 2021, Polar Security is a pioneer of data security posture management (DSPM), an emerging cybersecurity segment that reveals where sensitive data is stored, who has access to it, how it's used, and identifies vulnerabilities.
Momentum thrust needed to take markets higher
BSESENSEX gained 973.61 points or 1.59 per cent to close at 62,027.90 points. NIFTY gained 245.80 points or 1.36 per cent to close at 18,314.80 points. The broader markets saw BSE100, BSE200 and BSE500 gain 1.52 per cent, 1.36 per cent and 1.30 per cent respectively. BSEMIDCAP gained 1.35 per cent while BSESMALLCAP was up 1.14 per cent.
Expect sideways movement with focus on Smallcap and midcap space
BSESENSEX lost 58.15 points or 0.10 per cent to close at 61,054.29 points while NIFTY gained 4.00 points or 0.02 per cent to close at 18,069.00 points. The broader market saw BSE100, BSE200 and BSE500 gain 0.19 per cent, 0.30 per cent and 0.40 per cent respectively. BSEMIDCAP gained 1.41 per cent while.
Patent filings soar 13.6% in India, tech domain leads
Further, the year witnessed a rise in the share of domestic filings to 44.4 per cent of total patents filed, compared to 41.6 per cent in FY2021, according to Nasscom which released the report on the occasion of World Intellectual Property Day. Out of the 584,000 patents filed in India between FY2010 and FY2022.
China probes US chip maker in apparent retaliation
The Cyberspace Administration of China (CAC) will review products sold by Micron in the country, CNN quoted a statement issued by the watchdog as saying. The move is aimed at "ensuring the security of key information infrastructure supply chains, , preventing cybersecurity risks caused by hidden product problems.
Sentiment and momentum favour the bulls in a truncated week
What one saw on Friday was a combination of the first day of the new financial year, a renewed push by bulls to dominate, a large part of NAV supported by mutual funds and above all, hope that the new financial year would be a better one. To support all of this, Dow had a great week as well. The markets gained on three of the four trading sessions and were sideways on the fourth session. Friday was a special day with markets registering huge gains.
Fear of financial crisis keeps investors away from stock markets
A number of American banks had failed recently or came under pressure. "Nifty (at NSE) snapped a two day rise on March 20 and closed in the negative, though after witnessing a sharp rebound from the afternoon lows. At close, Nifty was down 0.65 per cent or 111.7 points at 16,988.4," said Deepak Jasani, Head of Retail Research, HDFC Securities.
Short selling report turns markets into 'Fryday'
A 32,000-word report by American short-seller Hindenburg Research has left a Rs 4 lakh crore gash on the portfolios of bulge bracket Adani bulls which have been enjoying the gravity defying valuations since the Adani Wilmar public issue more or less a year ago. Every word shaving off Rs 12.5 crore from the valuation.