by Editor | Aug 28, 2024 | Business, Economy, News
Mumbai: Indian frontline line indices extended gains in mid-session on Wednesday due to a rally in the IT stocks.
Due to the uptrend, the National Stock Exchange (NSE) benchmark Nifty made a new all-time high of 25,114, previously it was 25,078.
At 1.23 p.m., Sensex was up 233 points or 0.28 per cent at 81,943 and Nifty was up 84 points or 0.34 per cent at 25,102.
The rally was driven by IT stocks as the Nifty IT index also made a new lifetime high of 42,712.
Weakness was seen in the midcap and smallcap stocks compared to largecap stocks. Nifty midcap 100 index was up 42 points or 0.07 per cent at 59,263 and Nifty smallcap 100 index was up 56 points or 0.29 per cent at 19,389.
Among the sectoral indices, Nifty IT (2.28 per cent), Nifty Pharma (0.82 per cent), Nifty Healthcare (0.93 per cent) and Nifty Service Sector (0.58 per cent) were the major gainers. Nifty Media (0.49 per cent), Nifty PSU Bank (0.25 per cent) and Nifty FMCG (0.11 per cent) were the major losers.
In the Sensex pack, Wipro, IndusInd Bank, Infosys, Bharti Airtel, Tech Mahindra, HCL Tech, Sun Pharma and M&M contributed the most. Maruti Suzuki, Axis Bank, Asian Paints, Nestlem ITC, Ultratech Cement, Kotak Mahindra Bank and L&T fell the most.
Shrey Jain, the Founder and CEO of SAS Online said, “Benchmark indices Sensex and Nifty began today’s trading session with a muted tone, opening flat to slightly positive. The Nifty index is expected to remain range-bound between 24,950 and 25,100 for the day. A breakout from this range could pave the way for a new directional trend.”
“Overall, the market appears to be in a consolidation phase characterised by low volatility and this trend is likely to continue in the near term,” he added.
by Editor | Aug 28, 2024 | Business, Economy, News
Mumbai: India equity indices were trading flat following negative global cues from Asian peers.
At 9.40 a.m., Sensex was down 45 points or 0.05 per cent at 81,667 and Nifty was down 21 points or 0.10 per cent at 24,996.
The all-time high of Nifty is 25,078.
The market trend remains positive. On the National Stock Exchange (NSE), 1,470 shares are in the green and 620 shares in the red.
There is a buying trend in midcaps and smallcaps compared to largecaps. The Nifty Midcap 100 index is up 108 points or 0.18 per cent at 59,316 and the Nifty Smallcap 100 index is up 93 points at 19,426.
Among the sectoral indices, Auto, IT, pharma, FMCG, media, energy and infra are the major gainers. Fin service, metal and private bank are the major laggards.
In the Sensex pack, M&M, Tata Motors, Power Grid, Sun Pharma, Titan, Wipro, Reliance, ITC, UltraTech Cement, Bharti Airtel, ITC and HDFC Bank are the top gainers. Tata Steel, Bajaj Finserv, Maruti Suzuki, TCS, HCL Tech and ICICI Bank are the top losers.
Most Asian markets are trading in the red. Tokyo, Shanghai, Seoul and Hong Kong are the major losers. The US market closed with marginal gains on Tuesday.
According to the market experts, “The market has entered a consolidation phase with low volatility and this trend is likely to continue in the near term. Falling bond yields in the US have restrained FII selling and even turned marginal buyers.”
by Editor | Aug 28, 2024 | Business, Economy, News
New Delhi: The information security spending in India is projected to reach $3.4 billion in 2025, 17.1 per cent up from 2024, a report showed on Wednesday.
The end-user spending on information security is projected to reach $2.9 billion this year, according to a Gartner report.
The recent CrowdStrike outage highlighted critical internal vulnerabilities, emphasising the need for many organisations to establish a more resilient and secure IT environment, prioritising their spending on endpoint and cloud security.
According to Shailendra Upadhyay from Gartner, the outage prompted some chief information security officers (CISOs) to review or update their organisation’s prevention, response and support procedures, “while also ensuring that key employees with response and recovery responsibilities possess the necessary competencies.”
The report mentioned that within the security services vertical, managed security services spending is projected to grow 34.3 per cent, outpacing security consulting services spending (10.9 per cent) and security professional services spending (17.9 per cent).
Managed detection and response (MDR), a subcategory of managed security services, is forecast to record the highest growth in the segment at 42.3 per cent.
by Editor | Aug 28, 2024 | Business, Economy, News
New Delhi: Generative Artificial Intelligence (AI) tools like Open AI’s ChatGPT are widespread hits among students who have problems paying attention, according to a study on Wednesday.
Researchers in Sweden looked into how teenagers related to how they used and thought of generative AI chatbots as helpful for their homework. Their findings were published in the journal Frontiers in Artificial Intelligence.
The scientists from Lund University carried out two investigations. The first included 485 teenagers between the ages of 12 and 16; while the second had 359 pupils aged 15 to 19.
According to the surveys, older students used AI chatbots at a rate of roughly 53 per cent while younger kids used them at a rate of about 15 per cent. A plausible rationale could be that advanced learners receive more intricate projects and, consequently, may employ AI systems more frequently.
“Students with more attention to challenges found these tools particularly useful, especially for completing assignments. This highlights these tools’ role as potential support for students struggling with cognitive processes crucial for academic success,” said Johan Klarin, a school psychologist and research assistant at the Department of Psychology at the varsity.
More importantly, the results of the experiments demonstrated that students who had greater difficulty with attention issues thought generative AI was far more helpful for their coursework than their classmates. According to the researchers, one explanation could be that these pupils experience higher productivity gains than their peers.
by Editor | Aug 28, 2024 | Business, News, Technology
New Delhi: Bharti Airtel will exit from music vertical and shut down its Wynk Music app, according to sources.
The information was confirmed by an Airtel spokesperson a few hours after the company announced entering into a strategic partnership with iPhone maker Apple for video and music streaming.
The company will absorb all Wynk Music employees.
“Airtel is planning to close Wynk Music in the next couple of months. It will absorb all the employees into the company,” a source told PTI.
When contacted, the Airtel spokesperson confirmed the development.
“We can confirm that we will sunset Wynk Music and all Wynk music employees will be absorbed within the Airtel ecosystem,” the spokesperson said.
The company has entered into an agreement with Apple to provide access to Apple Music with special offers to its customers who use iPhone.
“Airtel users will have access to Apple Music. Additionally, Wynk Premium users will receive exclusive offers from Airtel for Apple,” the spokesperson said.
