Equities end at record highs on global cues post US Prez election (Lead)

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Mumbai, Nov 9 | Clarity on US election results, along with fast-paced economic recovery, lifted the Indian equities markets to new record closing highs on Monday.

The up trend continued for the fifth consecutive session on Monday with Nifty closing the day 197 points higher.

Markets rallied on hopes of fewer regulations and a bigger stimulus package for the US economy under a Joe Biden administration.

The Nifty50 on the National Stock Exchange closed at 12,461.05, higher by 197.50 points, or 1.61 per cent, from its previous close.

The Sensex closed at 42,597.43 points, higher by 704.37 points, or 1.68 per cent, from its previous close of 41,893.06.

“The clarity on the outcome of the US Election has spread cheer for the global equity market,” said Nish Bhatt, Founder and CEO, Millwood Kane International.

“Indian market scaled fresh life highs in early trade. A stronger bilateral relationship with the US under the new administration will help Indian businesses. President-elect Joe Biden’s plans to reverse most of the tough decisions taken by Trump on visa and immigration plans to increase the H-1B visa limit and remove any country quota for green cards is a big positive for Indian IT companies.”

He said that Biden at White House means less protectionism, and a sign of ending tariff wars.

“The US economy needs a fresh stimulus package for a revival. India seems to be in a sweet spot and may gain as the US under Joe Biden is unlikely to ease pressure on China,” Bhatt added.

According to Nagaraj Shetti, Technical Research Analyst at HDFC Securities: “The near term trend of Nifty continues to be positive and more upside could be in store in the coming sessions.”

“The overall chart pattern indicate more new highs in the coming sessions. The upside targets to be watched around 12,750-12,800 levels in the next 1-2 weeks.”

Further, hopes of easing H-1B visa norms which would be favourable also supported the Indian market.

Source: IANS

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Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Drummi Bhatt has successfully donned many hats including that of a global strategy professional, mentor, and investor to early-stage startups encouraging women entrepreneurship, and a philanthropist.

Drummi currently leads Market Intelligence and Strategy team at Mitsubishi Power, USA building corporate-level strategies for global markets. Drummi is also the founder of KarmaKonnect, a Woman and Rural Empowerment Non-Profit Organisation which works for projects in remote rural, tribal, and conflict areas.

Her philanthropy work has taken her to various corners of India, including, far end corners of Leh, Ladakh, Telangana, and remote areas of Chambal. During these visits, she got mesmerized by culturally rich, vernacular, and diverse, the true “Bharat”.

During her interaction across the country, she got enchanted by the whirlwind of talent residing across Bharat, which is not restricted to a language, city, or just tier-1 cities but is found in abundance all across tier-2, tier-3 cities, and rural-tribal clusters.

With OTT platforms ruling the world in 2020, Drummi decided to bring her strategic insights and data analytics strength to this field by joining hands with seasoned entrepreneurs, Rahul Narvekar and Narendra Firodia, to launch its kind, vernacular OTT platform, Letsflix.

In 2019, Drummi, Rahul, and Narendra have successfully launched India’s first vernacular infotainment app, LetsUp, which now caters to 1.5 million users and in 7 vernacular languages, a feat achieved by none. The trio has now been passionately working towards creating and delivering vernacular content for every viewer in India with Letsflix.

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