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Share Market Closing Note Sensex, Nifty end on a positive note

29. October 2021 Sandeep Stock Market Research (0)

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Nifty ends below 17,700, Sensex falls 677 pts; IT drags, PSU banks gain:

Benchmark indices ended on weak note for the third consecutive session on October 29 with Nifty closing below 17,700 level.


Share Market  Closing Note 

At close, the Sensex was down 677.77 points or 1.13% at 59,306.93, and the Nifty was down 185.60 points or 1.04% at 17,671.70. About 1326 shares have advanced, 1836 shares declined, and 157 shares are unchanged.

Tech Mahindra, NTPC, Kotak Mahindra Bank, IndusInd Bank and L&T were among the major Nifty losers. Gainers included UltraTech Cement, Maruti Suzuki, Cipla, Dr Reddys Laboratories and Shree Cements.

Among sectors, bank, IT energy, power and oil & gas indices ended in the red, while buying was seen in the realty, pharma, metal and auto names. The BSE midcap and smallcap indices ended with marginal change.

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Topic :- Time:3.00 PM

Nifty spot if manages to close above 17680 level then expect some quick bounce back in the market in coming sessions and if it closes below above mentioned level then some sluggish movement is likely to follow. Avoid open positions for Monday.

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Topic :- Time:2.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 6219.If it breaks and trade below 6200 level then expect some decline in it and it it manages to trade and sustain above 6235 level then some upmove can be seen in CRUDEOIL.

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Topic :- Time:1.10 PM

Railways withdraws decision on IRCTC convenience fee, stock recovers:

IRCTC on Thursday said it has been asked to share 50% of its revenue earned as convenience fee from bookings on its website

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Topic :- Time:1.00 PM

Nifty is still trading in a very small range. Nifty spot if manages to trade and sustain above 17840 level then expect some upmove in it and if it breaks and trade below 17800 level then some decline can be seen. As nifty is range bound avoid big trades and trades and trade with proper levels

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Topic :- Time:12.45 PM

Just In:

PM Narendra Modi arrives in Italy for G20 Summit.

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 746.If it breaks and trade below 744 level then expect some decline in it and if it manages to trade and sustain above 747.20 level then some upmove can be seen in it.

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Topic :- Time:12.00 PM

Nifty spot is trading at 17806.If it manages to trade and sustain above 17820 level then expect some upmove in the market and if it breaks and trade below 17780 level then some decline can follow in the Nifty.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex, Nifty volatile; Nykaa IPO subscribed nearly 2x so far

2. CarTrade slips 7%, stock at new low on second straight quarterly loss

3. Railway ministry asks IRCTC to share 50% of revenue from convenience fee

4. IndiGo Q2 results: Loss widens 20% to Rs 1,435 cr on rising crude oil

5. Fuel prices raised for 3rd straight day, petrol touches Rs 108.64 in Delhi

6. Reliance Jio pays Rs 10,792-crore spectrum dues to DoT

7. RBL Bank tanks 15% on disappointing Q2 nos, stock down 37% from 52-wk high

8. Sebis investor charter to be notified next month, wont be legally binding

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Also Read:- What is the key purpose to invest in the stocks?

Topic :- Time:11.00 AM

After negative opening nifty is now trading flat. Nifty spot if manages to trade and sustain above 17880 level then expect some further upmove and if it breaks and trade below 17840 level then some decline can see in it.

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For 29 Oct,2021:

Yesterday there was huge sell off in the market, changing sentiments from positive to negative. Avoid following rumours and trade as per market trend.

Nifty spot if manages to trade and sustain above 17880 level then expect some quick recovery in the market and if it breaks and trade below 17800 level then some decline can follow in the Nifty.

Please note this is just opening view and should not be considered as the view for the whole day.

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Mark Zuckerberg clarifies why Facebook is rebranding as Meta

29. October 2021 Sandeep Stock Market Research (0)

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Mark Zuckerberg predicts that Metaverse will not going to be “huge” until the second half of this decade at earliest as the median median age of the people who use the company’s products gets older.


Facebook has now officially changed its identity to Meta. [Image: Facebook/Mark Zuckerberg]

Facebook has now officially changed its identity to Meta reflecting the company’s broader ambitions related to metaverse, dubbed as the next big computing platform.

According to Mark Zuckerberg, Facebook is perceived as only a social media company but has now become more than that. He believes that while others are trying to work on how people interact with technology, the company, now called Meta, is striving to build technologies so that people can interact with each other.

According to Zuckerberg, while many would question the timing of the metaverse conversation amid the recent controversy, he said that he believes in “what we are building and technology can make life better”.

A trove of internal documents leaked by a Facebook whistleblower Frances Haugen detailed the social giant's various missteps and struggle in moderating content, especially in multilingual countries like India, its biggest market with over 340 million users.

The idea of metaverse is to make it more immersive where, instead of communicating through the mobile apps, people can feel each other’s presence.

This would mean digital avatars, one each for different occasions, creating your own space, making it easy to teleport from one platform to another, and also building security and safety features built into the platform. One can get into the metaverse through virtual reality platforms, AR glasses, computer or even phone. The company already has its own virtual reality platform, Horizon, an online gaming tool.

Here are more details on ambitions of Meta

Speaking on the reason behind the rebrand, Zuckerberg told The Verge in an interview that after acquisition of apps including Instagram and Whatsapp, there was “a lot of confusion and awkwardness about having the company brand be also the brand of one of the social media apps.”

“That’s a concern that I think people shouldn’t have to have. People had concerns that, “If I sign into Instagram with this or if I sign into WhatsApp with it, does that mean that my data is somehow gonna get shared over here in a way that I didn’t want?” he added.

Also Read:- What is the key purpose to invest in the stocks?

 Zuckerberg said that while there's financial reporting and segment reporting but the company isn’t making organisation changes yet. “That might be something that I’ll consider in the future, but I don’t think that’s something that’s near term on the horizon,” he said.

Zuckerberg said that he sees himself as the CEO of the company in the next five years and has no plans to step down. “And I’m pretty young. I have a lot of energy. But certainly at some point I’m not [going to be] running the company,” he told the publication.

 Zuckerberg said that the timing of the rebranding effort has nothing to do with the recent leaks that has left the company’s reputation surrounded by bad press. It had “nothing to bear on this. Even though I think some people might want to make that connection, I think that’s sort of a ridiculous thing. If anything, I think that this is not the environment that you would want to introduce a new brand in.”

Zuckerberg predicts that Metaverse will not be “huge” until the second half of this decade at earliest as the median median age of the people who use the company’s products gets older. He said that the target demographic will be young adults from 18 to 29 years of age.

 Asked about whether Metaverse will support NFTs, smart contracts and cryptocurrencies, Zuckerberg told The Verge that the company is supportive of it.

“One of the big questions that people are going to have about virtual goods in the metaverse is, “Do I really get to own this thing? Or is it just content that someone can basically just take away from me in the future?” And I’m pretty sensitive to that, given all the pressures that we’ve had to try to navigate around censorship and what’s the definition of something that’s harmful versus when you have to get in the way of people being able to express something,” he said adding that it becomes a lot more sensitive when there’s money and ownership involved.

Article Source:- Moneycontrol

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