https://drive.google.com/file/d/1DKH_aLUsW4OOopFbJbAMqjEE_kdHIwTV/view?usp=drivesdk
🐂 Global tech euphoria, sparked by Nvidia’s blowout earnings, lifted Indian indices, with the Nifty and Sensex marching closer to all-time highs, buoyed by renewed foreign investor interest.
🐂 The Indian IT sector found renewed strength, supported not just by the global tech rally but also by the commencement of Infosys’s massive Rs 18,000 crore share buyback, signaling strong management confidence.
🐻 Beneath the headline strength, the small-cap segment showed significant stress. Q2 earnings data revealed a troubling trend of earnings misses, contributing to a cumulative erosion of Rs 4 lakh crore in market value this year.
🐻 Post-IPO reality hit several recent listings hard. PhysicsWallah shares crashed 19% from their peak amid high volatility, and Swiggy’s stock erased all its post-listing gains, retreating 36% to its IPO price due to widening losses.
Today’s session was a tale of two markets. The optimism was almost entirely imported, courtesy of Nvidia’s spectacular results which reignited the global AI narrative and pulled large-cap tech stocks up. However, the cheer wasn’t universal. A closer look reveals a growing divergence, with significant pain in the small-cap space and a harsh reality check for recently listed companies where hype is now giving way to a harder look at fundamentals. The market is climbing, but the ascent is narrow and selective.
Stay sharp.
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