Shares of IBM plunged 13.2% Monday, marking their steepest single-day drop in over 25 years, after AI startup Anthropic said its Claude Code tool can modernise COBOL, the legacy programming language running on IBM systems, raising concerns of AI-driven disruption in IT and cybersecurity stocks.Read More
Indian markets face uncertainty driven by US tariff concerns and geopolitical factors, leading to cautious sentiment. AI’s impact on IT services remains unclear, while digital lending platforms show potential for financial services. The auto sector exhibits mixed but positive momentum, with ferrous metals also showing promise.Read More
Indian benchmark indices Nifty 50 and BSE Sensex experienced a sharp decline on Tuesday, with IT and auto stocks leading the fall. Investor wealth plummeted by Rs 2.94 lakh crore. Concerns over AI’s impact on COBOL systems and renewed tariff threats from former US President Trump contributed to the market downturn.Read More
Investors are advised patience with Hindustan Aeronautics Limited (HAL) despite its strong order book, as recent sentiment shifts and current valuations warrant caution. In the IT sector, selective opportunities exist in midcap players like KPIT, Mphasis, and Datamatics, driven by AI adaptability. IDFC First Bank requires trust repair and regulatory clarity before fresh exposure.Read More
The Indian Rupee experienced a dip of 7 paise against the US Dollar, trading at 90.96 in early trade. This decline was influenced by escalating global crude oil prices and a strengthening dollar. Domestic equity markets also opened on a weak note, adding pressure. However, foreign institutional investor inflows provided some stability, preventing a steeper fall.Read More
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