In the NSE list of stocks with a market cap of over Rs 1000 crore, five stocks closed prices crossed above their 200 DMA (Daily Moving Averages) on January 27, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.
119 companies will release third-quarter earnings results, including Bajaj Auto, Hyundai Motor, and Cipla. Bajaj Auto expects a 7% revenue rise despite weak domestic volumes. Hyundai may see a 10% profit drop with a 2% revenue decline due to adverse mix. Analysts predict varied impacts on industries this earnings season.
A selloff was triggered after a cheap AI model from Chinese startup DeepSeek climbed to the top of Apples appstore, sparking concerns that valuations of the technology may be tough to justify. Japanese stocks fell, with chip-related shares extending Mondays declines. That was after the S&P 500 dropped 1.5% and the Nasdaq 100 sank 3%. Nvidia Corp., the poster child of the AI boom, suffered the biggest market-cap loss for a single stock in market history.
Nvidia's stock plummeted 17%, wiping out $589 billion in market value, due to concerns over Chinese AI startup DeepSeek's competitive, low-cost technology. The news spurred a broader tech selloff, highlighting fears that US firms may have over-invested in AI. Nvidia acknowledged DeepSeek's advancements and denied any violation of US export restrictions.
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 by Nvidia last September.
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.
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 deficit concerns.
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.
