Tech Stocks

BSE IT index drops 3.2%; Midcaps see deeper cuts

The brokerage firm has downgraded the Indian information technology sector to 'underweight' as it believes the heydays of the sector are over

Aramco traded near its highest level on record on Wednesday, with a market capitalisation of about $2.43 trillion

The world's largest cryptocurrency dropped as low as $26,970, to stand at its lowest since Dec. 28, 2020. In the last eight sessions, it has lost a third of its value, or $13,000

Tiger Global losses marked one of the biggest dollar declines for a hedge fund in history

This process, according to Wood, is already well underway with Netflix now down 69 per cent year-to-date (YTD)

The NSE Nifty 50 index fell 1.89% to 17,142.50, as of 0445 GMT, while the S&P BSE Sensex slid 2.15% to 57,089.44

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Analysts expect the Bengaluru-based firm to post flat-to-negative EBIT margin due to higher attrition, lower utilisation, and rising travel expenses.

US business activity rises to eight-month high in March; Uber surges on deal to list all NYC taxis on its app

Proposes disclosure of relevant KPIs made before pre-IPO investors

Megacap names such as Meta Platforms Inc, Google-owner Alphabet Inc, Tesla Inc and Microsoft were up between 1.2% and 2.5%

Many market participants hoped that earnings from the big, tech-focused stocks that have led markets for years would lend equities a modicum of support after January's sharp declines

MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.4%, led by a 1.5% rise for the Hang Seng index in its first day of trading after this week's Lunar New Year holidays.

MSCI's 50-country main world index is now down over 8.1% for the month, which will be its worst January since the 2008 global financial crisis year.

The S&P 500 was up 63.50 points, or 1.46%, at 4,413.43, and the Nasdaq Composite was up 170.15 points, or 1.26%, at 13,712.27

US stocks whipsawed between steep losses and modest gains before ending well off session lows, with rate-sensitive tech stocks weighing most heavily

The Nikkei dropped 0.55% to 27,371.11 as of the midday break, with startup investor SoftBank Group being the biggest drag on the index, slipping 3.13%