Latest Updates Around The World
Infosys’ American Depositary Receipts (ADRs) fell 5% on the NYSE to hit a low of $13.99 on Friday as AI-induced fears over the likely impact on Wall Street firms weighed. To make matters worse, wholesale inflation rose sharply to 2.9% in January, far higher than estimates of 1.6%, pushing markets the wrong way, according to […]
Real estate stocks fell as much as 5% on Tuesday, amid a carnage in the IT sector, which is facing an existential crisis in AI-led challenges. India’s technology sector is among the top employers and is linked to the demand for commercial real estate and urban housing.The Nifty Realty index fell 3% today to touch […]
Shares of major information technology companies came under pressure on February 24, falling as much as 8%, following a sharp decline in IBM among restive investors on Wall Street. The stock fell 13%, its worst single-day drop in 25 years, after AI startup Anthropic said its Claude tool can help streamline COBOL code.COBOL, short for […]
Foreign institutional investors (FIIs) are fleeing India’s tech sector at an alarming rate, unconvinced that software services giants can survive the AI ​​disruption that threatens to erode their business models. FIIs withdrew Rs 10,956 crore from Indian IT stocks in the first two weeks of February after the launch of new models from Claude and […]
After a brutal two-day sell-off that saw Infosys and Wipro ADRs fall as much as 14.5%, Friday’s session brought a much-needed breather. The bargain hunt started at lower levels, leading to a sharp rebound as Infosys rose 4% while Wipro rose 3%, helping both stocks end the week on a much stronger note.A whopping Rs […]
ET Intelligence Group: Will Indian software companies rise to the challenge posed by new models of artificial intelligence (AI) that are transforming the way business solutions are implemented and delivered to customers? While the jury is still out, one thing is clear: domestic software exporters are far from unprepared. Both large and mid-sized IT companies […]
Infosys’ American Depositary Receipts (ADRs) reversed Thursday’s losses on Friday, rising 4% in early trade to hit a day’s high of $14.77, while Wipro’s ADRs rose 2.2% to $2.33 despite selling pressure on the Nasdaq Composite and weak trading in domestic IT stocks for yet another session today.Major indices on Wall Street were trading lower […]
Friday the 13th, a date steeped in superstition and caution, so much so that there is even talk of a tongue-twisting phobia, Paraskevidekatriaphobia, may send chills through popular Western culture, but seems to have little impact on Dalal Street, where the markets tend to move more on fundamentals than folklore.A closer look at the last […]
Benchmark indices Sensex and Nifty opened 1% lower on Friday, extending losses for the second straight session, after a deeper sell-off in IT stocks disrupted investor sentiment amid rising fears of AI-induced disruption. The slide also came on Friday the 13th – a date long considered unlucky in the West.Heavyweights Infosys, TCS, HCLTech and Wipro […]
Market veteran Gurmeet Chadha has said that five years ago, it was difficult to imagine that the State Bank of India (SBI) would overtake IT heavyweights such as Tata Consultancy Services (TCS) and Infosys in terms of market capitalization. While the Managing Partner and CIO of Complete Circle Consultants stopped short of writing down the […]
