If the index is unable to sustain above 24,500 levels, technically it can then slip to its 200-DMA placed at 23,365 levels.
Posts tagged Rediff
Modi’s AI Mission Set To Take Off (25-10-2024)
Under the India AI mission, supercomputing, comprising over 10,000 GPUs, will be made available to various stakeholders for creating an AI ecosystem.
‘AI Doesn’t Care Where It Goes To School’ (25-10-2024)
‘No one manufactures intelligence at the moment.’ ‘This is a concept that your IT industry understands.’ ‘What you need is infrastructure. Everything else can then be taken care of.’
India Inc revenue growth in Q2 slowest in 4 years? (25-10-2024)
The revenue growth of Indian companies for the July-September quarter is estimated to be 5-7 per cent year-on-year (Y-o-Y), marking the slowest growth in 16 quarters, rating agency CRISIL said on Thursday.
Investors lose Rs 7.15 lakh cr as markets slump (25-10-2024)
Investors’ wealth eroded by a whopping Rs 7.15 lakh crore during the morning trade on Friday as equity markets tumbled, driven by sharp fall in IndusInd Bank shares and unabated foreign fund outflows. The BSE Sensex tanked 708.69 points to 79,356.47 and the NSE Nifty plunged 286.35 points to 24,113.05. Tracking the weak trend in equities, the market capitalisation of BSE-listed firms tumbled Rs 715,739.19 crore to Rs 4,36,63,565.73 crore ($5.19 trillion) during the morning trade.
RBI turned down request to on-board ex-CBI official (25-10-2024)
Religare Enterprises, a financial services firm, has disclosed that the Reserve Bank of India (RBI) turned down its application to appoint Rakesh Asthana as its whole-time director in May this year without citing any reasons. Asthana is a former top official of the Central Bureau of Investigation (CBI). In a notice to the stock exchanges, Religare said that while the company and Asthana were weighing the options of dealing with the letter of refusal by the RBI, it was also busy in preparing for the “herculean task” of making ready multiple applications to regulators.
2024 midcap, smallcap stock rally is world’s best (25-10-2024)
The rally in Indian mid-and smallcap indices thus far in calendar year 2024 (CY24) has been the best in class across the world, eclipsing the global FTSE benchmarks, and also out running peers from other leading world stock markets. This is despite the correction in the mid-and smallcap segments back home seen in the last few days, triggered by valuation concerns, geopolitical developments amid nervousness ahead of the July – September 2024 (Q2-FY25) corporate results season.
Nvidia, RIL join forces to build AI computing infra (25-10-2024)
American chip behemoth Nvidia Corp and India’s retail-to-refining giant Reliance Industries on Thursday unveiled their goal to build a formidable AI computing infrastructure in the country. Highlighting the tie-up, Jensen Huang, founder and CEO of Nvidia, made a broader appeal: India should focus on “manufacturing” AI, rather than racing to build semiconductor fabs. As part of this collaboration, Nvidia will reportedly supply its Blackwell AI processors to power Reliance’s one-gigawatt data center in Jamnagar, Gujarat.
Samvat 2081: Will Gold, Silver Sparkle? (25-10-2024)
‘Higher interest rates make gold less attractive as it doesn’t generate yield.’ ‘However, with rates set to fall, the tables are turning for gold.’
Reliance Has Filed 3,000 Plus Patents (25-10-2024)
Reliance has filed patents not only in India but also in the US, Canada, Europe, Estonia, South Korea, and South America. The patents include narrowband Internet of Things, AI large language models, AI DeepLearning, Big Data, devices, and quantum AI in 6G.