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Top Gainers & Losers on April 16: GMDC, Netweb Tech, Adani Power, Sonata Software, YES Bank among top gainers - Mint
Top Gainers & Losers on April 16: GMDC, Netweb Tech, Adani Power, Sonata Software, YES Bank among top gainersMint
Top Gainers & Losers on April 16: GMDC, Netweb Tech, Adani Power, Sonata Software, YES Bank among top gainers
On April 16, the Indian stock market closed with modest losses after a recent rally. The Nifty 50 fell 0.18% while the Sensex dropped 0.21%. Broader markets showed gains, indicating a bullish tone, amid improving sentiment from potential US-Iran negotiations.
S&P 500 gained for seventh straight day on Thursday but this segment sold-off again
The iShares Expanded Tech-Software Sector ETF (IGV) fell 4%, closing at the lowest level since 2023. The ETF has extended its year-to-date losses to 27%. Another index related to software-as-a-service (SaaS) companies declined nearly 5%, extending its decline for the week to 9% and a year-to-date drop to nearly 40%.
These stocks have gained up to 10% led by order wins over the weekend
Apart from VA Tech Wabag, Data Patterns and SEAMEC, other companies that have won orders include RailTel, which has won an order worth ₹34 crore from the South Central Railway, Dilip Buildcon has emerged as the lowest bidder for a ₹160 crore EPC road project, and Newgen Software, which has bagged a ₹20.5 crore order form Kuwait.
AI rocks the tech boat, but an island of calm is in sight
ER&D firms that build complex hardware and the associated software may be less vulnerable to the AI apocalypse. The reason: Much of their work goes into creating physical products, with repetitive and software work contributing only a small part.
Citrini Scare Marked the Bottom, Says Fund Betting on Bounce
Sydney-based hedge fund GCQ Funds Management said the bottom is in for the software selloff, snapping up about A$200 million ($143 million) worth of tech stocks caught in the downdraft.
Global IT stocks react to Nvidia rally and Salesforce’s cautious forecast
Nvidia reported strong growth, led by continued demand for AI and sharp expansion in its data centre business, indicating that investment in AI infrastructure is still rising. However, despite strong numbers, the stock reaction was muted as markets may already have priced in consistent earnings beats. Salesforce, while posting better-than-expected results, disappointed investors with weaker guidance, raising some concerns for software and SaaS companies, including Indian IT firms tracking global tech demand.
Dow Jones recovers nearly 50% of Monday's sell-off as software, tech shares see relief rally
AMD shares led the rebound in tech stocks on Tuesday as the 9% advance was triggered by a partnership with Meta Platforms. Software stocks like Salesforce also staged a rebound.
AI to replace half of Mistral AI's software? Here's what CEO Arthur Mensch said as tech stocks face headwinds
Mistral AI CEO Arthur Mensch said over half of current SaaS software could shift to AI, amid investor fears of disruption. As tech stocks fall globally, Mensch called “replatforming” a major opportunity. Mistral plans its India debut, targeting public and private sector clients.
Stocks get tech boost amid strong economic reports
US stocks climbed as S&P 500 rose nearly 1 percent, driven by strong economic data and easing AI disruption fears. Oil jumped, tech and software stocks rebounded, and IPO activity slowed.
KPIT Tech stock rating: Goldman Sachs cuts target price, sees flat FY27 revenue growth amid weak demand
Goldman Sachs cut its FY26-FY28 earnings per share estimates for KPIT Technologies by up to 15 percent, reflecting expectations of a slower recovery in spending on electric vehicle software and engineering programmes.