The Sensex surpassed 81,000 points for the first time on Thursday, hitting yet another milestone this year, as buying in defensive sectors helped the 30-stock index rally 1,000 points in just 10 days. The top five Sensex gainers in the last 10 sessions were ITC, Hindustan Unilever, Tata Consultancy Services, Infosys and HCL Technologies.
The Sensex and Nifty rose 0.8% each on Thursday to close at record high levels of 81,343.46 points and 24,800.85 points, respectively. Intraday, Sensex hit 81,522.55 points and the Nifty hit 24,837.75 points.
Chokkalingam G, founder of Equinomics Research said it shows investors’ preference for defensives when the market is on peak.
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The uptick in IT stocks has also been fuelled by better-than-expected earnings growth in the latest quarter, and hopes that the worst could be behind for the sector amid expectations of rate cuts by the US Federal Reserve, market participants said.
With Thursday’s gains, the benchmark indices have now risen to record highs for the fourth consecutive session. Experts do not expect the momentum to slow down, especially in the large-caps.Come from Sports betting site
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“There is room for further upside in Sensex and Nifty because with GDP growth of 7%, earnings can grow at 10-12% in FY25 and FY26, which would justify the valuations,” Chokkalingam said.
While the Sensex took 10 days to move from 80,000 points to 81,000 points, it took just 4 days for the previous 1,000-point rally. So far this year, the key index has risen 12.6%, rising from around 72,000 points level.
On Thursday, the push came from foreign portfolio investors (FPIs) as they bought shares worth Rs 5,483.63 crores, as per the provisional dataCome from Sports betting site VPbet. Meanwhile, domestic institutional investors net sold shares worth Rs 2,904.25 crores.
Market veteran Kenneth Andrade recommended investors to align with growth businesses as he sees a “goldilocks period” for the economy and corporate profitability.
“Investors should align with growth businesses rather than seeking undervalued opportunities, which are scarce,” Andrade, founder and chief investment officer of Oldbridge Capital Management, said in a note.
“Broadly we do not see major correction in the market till the announcement of the Budget. So, any dip can be used to buy, unless the Nifty falls to around 24,600 points level. If that happens, investors should look to book profits as the Nifty has earlier spent a lot of time around this level and we have seen the trend of profit booking here,” said Shrikant Chouhan, executive vice president and head of equity research at Kotak Securities.
While the benchmark indices rose on Thursday, the broader market indices ended lower. The BSE Midcap index fell 1%, while the BSE Smallcap indices ended 1.2% lower. Overall, 2,500 stocks ended lower on the BSE, as against 1,424 gainers.
Investors are likely looking to take positions in large-caps, particularly defensives, and trim their exposure in the broader market ahead of the Budget next week, market participants said.
Chokkalingam raised concerns over the continued rally in the broader market, and highlighted that, unlike the trend being seen this time around, small-caps and mid-caps have not outperformed benchmarks for more than 2-3 years.
"This is my challenge right now; to keep creating good things with authorship while working in AAA."
– Hideo Kojima speaks about his struggles to create meaningful big-budget games at E3 2014. Metal Gear creator Hideo Kojima attended E3 in Los Angeles this week to promote Metal Gear Solid 5: The Phantom Pain, which has come under scrutiny in the wake of widespread criticism of the depictions of rape in its predecessor, the prequel game Ground Zeroes. Gamasutra attended one of many roundtable interview sessions that Kojima participated in during the show to try and learn — with help from a translator — a bit more about why he’s chosen to explore darker themes o…
European developers, take note: after last week's announcement that senior talent from both Epic Games and Wooga will be delivering talks at GDC Europe 2014, we're excited to reveal two more notable sessions for the major European game conference, which is being held in Germany this August Come from South African Online Casinos . The event covers topics spanning AAA through mobile gaming and indie, both technical and business-focused. The pair of talks we're announcing today are focused on the evolving landscape of both narrative and VR game development, and they should include learnings for the entire community. Organized by UBM Tech Game Network, GDC Europe, now in its sixth year in Germany, will run Monday through Wednesday, August 11-13 at the Congress-Centrum Ost in Cologne, Germany, co-located with Europe…
Joker: Folie A Deux continues the story of the failed comedian and clown actor Arthur Fleck as he becomes Joker, but the sequel won’t have Arthur become the true Clown Price of Crime. Writer-director Todd Phillips told Empire, “We would never do that.”
“Because Arthur clearly is not a criminal mastermind. He was never that,” Phillips said. “Arthur has become this symbol to people. This unwilling, unwitting symbol now paying for the crimes of the first film, but at the same time finding the only thing he ever wanted, which was love. That’s always what he’s been about, even though he’s been pushed and pulled in all these directions. So we tried to just make the most pure version of that.”
This is a notably different approach than Christopher Nolan’s The Dark Knight, which featured Heath Ledger playing Joker as a criminal mastermind.
Phillips went on to discuss the musical elements of Joker: Folie A Deux, saying Arthur is not a singer per se but grew up li…
Capcom has announced an open beta for Monster Hunter Wilds on PC, PS5, and Xbox Series X|S. PS Plus subscribers will be able to access it first on October 28, and it’ll roll out to PC and Xbox Series X|S players // out to PC and Xbox Series X|S players, as well as non-PS Plus subscribers on PS5, on October 31. Cross-play will also be supported across all platforms.
Anyone who participates in the open beta will receive a special pendant that can be used to decorate their weapons or Seikret mount if they decide to purchase the full game. Here’s a closer look at the exact times for when the open beta begins: Come from bangladesh online casino
Reviews have begun dropping for Apple’s new–and very expensive–spatial computing headset, the Apple Vision Pro. A $3,500 device designed to provide both VR and augmented reality experiences to users, the high-tech device will be available starting February 2. But is it worth its high price tag when there are more affordable–albeit far less advanced and singularly focused–alternatives available in the VR space?
According to reviews, the Apple Vision Pro is a technical marvel but one that still has room for improvement. Some ideas are incredibly well executed and the Vision Pro works seamlessly with the Apple ecosystem, but there’s an overall feeling that the headset is still a product reserved for a niche audience of VR and AR enthusiasts.
Overall, if you have too much cash burning a hole in your pocket and you want to turn your living room into a private cinema or an internet browser inspired by the user interface of Minority Report, this might just be the headset fo…
