Asian stocks drop after AI jitters hit US equities
A selloff was triggered after a cheap AI model from Chinese startup DeepSeek climbed to the top of Apple’s appstore, sparking concerns that valuations of the technology may be tough to justify. Japanese stocks fell, with chip-related shares extending Monday’s declines. That was after the S&P 500 dropped 1.5% and the Nasdaq 100 sank 3%. […]
DeepSeek sparks global AI selloff, Nvidia losses about $593 billion of value
This led the tech-heavy Nasdaq to fall 3.1% on Monday. Nvidia was the Nasdaq’s biggest drag, with its shares tumbling just under 17% and marking a record one-day loss in market capitalization for a Wall Street stock, according to LSEG data. Nvidia’s market-cap loss on Monday was more than double the previous one-day record, set […]
Local & Vocal: FIs may soon hold more stake than FPIs in India Inc
Foreign portfolio investors (FPIs) sold shares worth ₹1.51 lakh crore during the December quarter and another ₹67,000 crore since January 1. A basis point is a hundredth of a percentage point.
Persistent’s deal traction shows no season’s weak
Persistent Systems’ stock surged 7% after strong Q3 results showcasing revenue growth, improved margins, and robust deal wins. The company outperformed benchmarks, driven by sustained revenue momentum and operational efficiency, despite seasonal and acquisition-related pressures.
UPI dominates digital payments, sees explosive growth over five years
UPI has transformed India’s digital payment landscape, making up 83% of total payment volume by 2024, a sharp rise from 34% in 2019. UPI transactions hit 17,221 crore, driving the overall payment volume to 20,787 crore. RBI highlights UPI’s impressive CAGR of 74% over five years in boosting digital payments in India.
D-St indices fall 1% after Chinese co’s latest AI model threatens tech world order
US tech stocks tanked on concerns over DeepSeek’s latest R1 release, considered stiff competition for OpenAI’s ChatGPT, Google Gemini, Claude and others. According to some reports, DeepSeek has overtaken ChatGPT and others as the top-rated free app on the Apple Store in the US, UK and China.
Liquidity push: RBI readies ₹1.5 lakh crore injection
The Reserve Bank of India (RBI) announced measures to inject durable liquidity into the banking system, including a ₹60,000-crore bond purchase and a $5-billion USD/rupee swap auction. These actions are expected to ease liquidity conditions and raise the probability of a repo rate cut in February, providing relief to the banking sector amidst high liquidity […]
Applications open for Sebi Chief’s post
Buch’s two immediate predecessors-Ajay Tyagi and UK Sinha-got extensions beyond their initial three-year terms. While Tyagi headed Sebi for five years, Sinha led it for six.