Bitcoin falls 8.1% from its peak in last 24 hours
Bitcoin retreated from its record high of more than $73,000 as the market witnessed a selloff and higher-than-predicted US inflation data signalled that interest rates might stay high.
Bitcoin retreated from its record high of more than $73,000 as the market witnessed a selloff and higher-than-predicted US inflation data signalled that interest rates might stay high.
“Investors have time, even now, to switch from small-caps to fairly valued large-caps and partly to fixed income products. At this stage in the market, safety should be given priority over return," he said.
India’s market cap is currently the 5th largest globally (US $4.5 trillion) but its weight in global indices is still low at 1.6% (10th rank), foreign brokerage, Jefferies said in a report.
The market benchmarks extended their gains into the fourth consecutive session.
At close, the Sensex was down 523 points or 0.73 per cent at 71,072.49, and the Nifty was down 166.50 points or 0.76 per cent at 21,616.
At close, the Sensex was up 1,240.90 points or 1.76 per cent at 71,941.57, and the Nifty was up 385.00 points or 1.80 per cent at 21,737.60.
The recent market rally, propelled by antici- pation that major Western central banks may raise and not cut interest rates, paints a picture of optimism.
The global support to the market from the US market where the S&P 500 is close to all-time high is significant, he said.
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MODIFI, a global FinTech platform, on Thursday announced an ambitious expansion strategy to enhance its presence in the Indian market, which is aligned with the company's commitment to bolstering the country's SME trade sector.
