Paytm leads $6 billion rally as new-age tech stocks seek redemption

Paytm's parent company, One 97 Communications, has seen a 69% surge in shares, adding $2.7bn in market value, after improving profitability ahead of schedule. Other Indian tech firms, including Zomato and PB Fintech, have also seen significant market value growth

Investors cheering the gains in technology stocks this year may not have much more to celebrate, according to JPMorgan Chase & Co.’s Marko Kolanovic.

The stock market is very challenging at the moment, but if someone is willing to look at a one year time horizon, they can find good opportunities in the construction infrastructure space. Larsen & Toubro is a good example of a company that is going to benefit from this market trend. Other companies that are worth watching include Mahindra and Mahindra, JLR, and Mahindra Electric Vehicles.

Vijay Kedia, multibagger hunter and top value investor, believes that the market is in a confusing state and that the only thing to look out for is the bottom. He is cautious about investing in new-age stocks, as their valuations are still high despite the current market conditions. He is more interested in investing in stocks that are already profitable and have a good track record.

India Business News: India’s consumer technology stocks have outperformed China’s tech behemoths, led by companies such as Paytm’s parent, One 97 Communications, and Zomat

After a year of rate-tightening, liquidity conditions may ease and interest rates may lower in 2024. Arindam Mandal, portfolio manager at Marcellus Investment Advisors, anticipates a return to the 60/40 asset allocation model for the average investor. For Indian investors, he recommends a 70% allocation to domestic equity and a 30% allocation to global equity.

Indian markets are likely to continue their rally thanks to benign liquidity, stronger-than-expected results so far in the current quarter, and diminishing pressures on pricing. Underperforming sectors such as pharmaceuticals as well as capital goods, consumer durables and defence companies offer good opportunities. Stocks of safe bets, like ITC, Britannia and HUL, are doing well due to favourable valuations and strengthening ownership in a scenario of intense uncertainty before the election.

Short sellers have incurred big losses while Tesla, big tech stocks soar

It was the very worst year in over 200 years in US bond history. For both US equities and bonds being down had happened only for 1 year in the Great Depression (1931), 1 year in World War 2 (1941), once in 1969 and then this was the first time in 50 years that this happened.

Apple's shares hit an all-time high of $183.79, their first in more than a year. The stock has surged by over 41% in 2023, compared to the Nasdaq 100 Index's gains of 35%. The company's balance-sheet strength, dependable revenue streams, capital-return program, recent performance, and industry-expanding plans have bolstered investor confidence. Apple, with its roadmap and incredible business model, is one of the few stocks that investors remain optimistic about owning even though it may fluctuate, said Wayne Kaufman, chief market analyst at Phoenix Financial Services.