Pricing and product mix are expected to offer incremental support. HSBC notes that discounts were flat sequentially, while the company took a price hike of about 50 basis points during the quarter. Kotak expects average selling prices to rise 2–2.5% YoY, helped by a richer mix, including a higher share of exports and scooters.
Nvidia CEO Jensen Huang dismissed fears that artificial intelligence will replace software and related tools, calling the idea "illogical", after a significant selloff in global software stocks on Tuesday.
Over the past 15 years, the worst single-day crash in the Nifty IT index was recorded on April 12, 2013, when it plunged a staggering 12%, according to ACE Equity data. The closest comparable selloff came in 2022, when the index fell 6% in a single session, making today’s plunge the steepest in six years.
Global software and IT stocks suffered a sharp selloff after Anthropic unveiled new AI tools capable of automating legal, sales, marketing and data analysis tasks. Fears that AI may replace—rather than support—software firms triggered what analysts call a “SaaSpocalypse,” wiping out billions in market value across the US, Europe and India.
Indian IT stocks experienced a significant selloff on Wednesday. Investors reacted to fears that artificial intelligence could make traditional software and IT services outdated. This led to a substantial drop in market value for major IT companies. Global tech stocks also saw declines. The concern is that AI advancements may increase competition and reduce profitability for these firms.
Oil prices climbed after the U.S. shot down an Iranian drone and armed boats approached a U.S.-flagged vessel in a key waterway, while precious metals found a firmer footing after a recent rout.meback
Pradeep Aggarwal, Founder and Chairman of Signature Global (India) Ltd, said the company has continued to deliver steady performance during the first nine months of this fiscal.
Gold and silver futures extended gains for a second session, driven by geopolitical tensions after the US shot down an Iranian drone, along with bargain buying and a softer dollar. MCX silver jumped 4% and gold rose 3%, while global prices surged to multi-year highs. Analysts expect continued volatility amid dollar moves and geopolitical risks.
Toronto-based Thomson Reuters, which owns the Westlaw legal database, slumped by nearly 18%. It is on track for its biggest daily loss on record and lowest close since J
GLOBAL-Dollar steady, yen wobbles ahead of Japan election
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