S&P 500, Nasdaq end at new record highs
Unemployment fell to 4.1% last month, a better than the 4.3% expected. Volumes were lighter than usual on Thursday with markets due to close early.
(This is a Reuters story)
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Hindustan Times
30 minutes ago
- Hindustan Times
How did US trader Jane Street allegedly cheat Indian markets to make ₹36,500 crore
Securities and Exchange Board of India (SEBI), has taken unprecedented action against Jane Street, one of the world's largest quantitative trading firms. The regulator has banned the US-based company and its affiliated entities from the Indian securities market and ordered them to return ₹4,843 crore in alleged unlawful profits. Jane Street has denied the accusations. The US-based company, Jane Street, has been banned from the Indian securities market by SEBI.(Reuters File) What is Jane Street and how big is it? Jane Street is a global proprietary trading firm founded in 2000. It has more than 3,000 employees and offices across the US, Europe, and Asia. The firm operates in 45 countries. Its footprint in Asia is growing rapidly, especially in Hong Kong. According to a Reuters report, Jane Street had an annual revenue of $20.5 billion last year. Jane Street's operations in India According to SEBI, Jane Street's trading activity in India has been substantial. Between January 2023 and March 2025, it earned nearly $5 billion (about ₹36,671 crore) through index options trading. Out of this, ₹4,843 crore is now under investigation as unlawful gains. Jane Street first drew wider attention in India in 2023 when it sued a rival hedge fund, Millennium Management, in a US court. The case revealed that Jane Street had developed a profitable India-based options trading strategy, which earned it $1 billion in 2023 alone. The two firms settled the dispute later that year. Apart from that, media reports in April 2024 raised concerns about Jane Street's use of proprietary trading strategies in India. After which, the regulatory body examined the firm's trading behaviour, and subsequently issued a detailed interim order in July 2025. What did SEBI investigation revealed? SEBI's interim order outlines serious allegations. Jane Street is accused of manipulating index levels—especially the Nifty and Bank Nifty—on 21 different expiry days between January 2023 and May 2025, reported news agency PTI. In SEBI's report, two main strategies were flagged: Morning pump, afternoon dump: Jane Street allegedly bought large quantities of Bank Nifty stocks and futures early in the day, pushing the index higher. Later, it sold off these positions aggressively, depressing the index by closing time. According to the SEBI, this strategy gave a false impression of market strength, misleading other traders—particularly retail investors—into believing the index was genuinely rising. Expiry day index manipulation: The firm also reportedly executed large, targeted trades in the final hours of expiry days to influence index closing levels, thus affecting options pricing. These actions allowed Jane Street to make large profits in the options market, while the smaller losses it took in cash and futures trades were more than offset by gains from index options. SEBI's findings show Jane Street made: ₹ 44,358 crore in index options gains 44,358 crore in index options gains ₹ 7,208 crore in losses from stock futures 7,208 crore in losses from stock futures ₹ 191 crore in losses from index futures 191 crore in losses from index futures ₹ 288 crore in cash market losses This resulted in a net profit of ₹36,671 crore, out of which ₹4,843 crore is considered illegal by the regulator and has been ordered to be disgorged. As a result, SEBI has barred four Jane Street-linked entities from accessing the securities market: JSI Investments JSI2 Investments Pvt Ltd Jane Street Singapore Pte Ltd Jane Street Asia Trading Calling Jane Street's actions a 'clear disregard' of regulatory warnings, SEBI has prohibited the Group from buying, selling, or dealing in securities, either directly or indirectly, until the manipulation probe concludes. Banks holding accounts of these entities have been told to freeze withdrawals unless SEBI allows it. SEBI further noted that the Jane Street Group kept doing questionable trades, especially near market closing on expiry days. It made large and aggressive moves to unfairly move the index, even after getting a warning in February and assuring the NSE that it would stop such actions. In its order, SEBI said: 'Such egregious behaviour, in clear disregard/ defiance of the explicit advisory issued to them by NSE in February 2025, amply demonstrates that unlike the vast majority of Foreign Portfolio Investors and other market participants, JS Group is not a good faith actor that can be, or deserves to be, trusted.' (With Reuters, PTI inputs)
Business Standard
42 minutes ago
- Business Standard
Astrikos.ai Launches AI-Powered Data Center Intelligence Platform - S!aP Cognus
NewsVoir Bengaluru (Karnataka) [India], July 4: a leader in AI-driven infrastructure intelligence, is excited to announce the launch of its cutting-edge AI-Powered Data Center Intelligence Platform. This advanced solution is designed to transform data center operations by enabling predictive maintenance, real-time analytics, and enhanced operational efficiency. Leveraging AI and machine learning, the platform ensures higher uptime, reduced costs, and proactive issue resolution, making it a critical tool for modern data centers. The platform, named S!aP Cognus, brings together machine learning (ML), 3D modeling, and advanced analytics to optimize data center performance. With its scalable architecture, S!aP Cognus is capable of monitoring thousands of devices while providing predictive insights and real-time visibility into the most critical aspects of data center management. Key Features of the Platform: - AI-Powered Predictive Maintenance: Utilizes machine learning models to predict failures in vital systems such as UPS, HVAC, and battery banks, significantly reducing unplanned outages. -KPI Engine Compliant with ISO/IEC Standards: Tracks energy efficiency and operational performance according to recognized benchmarks like Power Usage Effectiveness (PUE), Water Usage Effectiveness (WUE), and Energy Reuse Effectiveness (ERE), aligning with global sustainability and compliance mandates. - Real-Time 3D Visualizations: Offers a dynamic digital twin of data centers, helping operators identify issues, simulate potential failures, and monitor live conditions. - Modular & OEM-Agnostic Architecture: Supports a wide range of protocols (e.g., Modbus, SNMP, BACnet) and integrates with popular hardware from Schneider, Siemens, APC, and others, reducing deployment friction. - Role-Based Dashboards: Delivers tailored dashboards for various stakeholders including Data Center Managers, Sustainability Officers, and Finance Teams to support informed decision-making. - Low-Code ML Model Builder: Provides an intuitive interface to design and deploy custom Machine Learning models for specific data center needs without requiring advanced coding expertise. "With the exponential growth of data and cloud infrastructure, enterprises need intelligent, AI-driven platforms that go beyond traditional monitoring," said Chinmay Hegde, CEO & Managing Director of "Our new Data Center Intelligence Platform empowers operators with real-time insights, predictive analytics, and automation to significantly improve efficiency, reduce downtime, and enhance overall sustainability." Chandrashekar SK, CTO of added, "Traditional data center management is reactive, leading to inefficiencies and unexpected failures. S!aP brings a proactive approach, enabling AI-powered predictive maintenance, interactive 3D modeling, and seamless third-party integrations to transform how data centers operate in the digital age." S!aP Cognus platform is designed to deliver energy efficiency, reliability, and sustainability in data center operations. By leveraging AI and machine learning, the platform enables trend analysis, scenario planning, and infrastructure optimization, facilitating strategic decisions that enhance operational agility and resilience. The S!aP platform has already been implemented successfully across several high-profile projects, including Uttar Pradesh's UP 112, the world's largest Next-Gen Emergency Response Support System (ERSS). The platform also played a pivotal role in the 2025 Prayagraj Kumbh Mela, supporting critical emergency response efforts. And also, 29+ pilot projects which includes 10+ smart cities, 3 data centers across 4 geographies. "With the increasing demands on data centers to deliver continuous uptime and meet sustainability goals, S!aP Cognus is a game-changer," said Suresh Bulusu, Director of Sales of "This platform not only provides predictive insights and operational intelligence but also empowers our clients with actionable data that drives smarter decisions, lower costs, and enhanced performance across their data center ecosystems." The platform represents a significant advancement in intelligent infrastructure management, contributing to energy savings and sustainability goals while ensuring operational resilience through AI-driven analytics. To know more about the product, visit Astrikos S!aP Cognus or contact us at: connect@ Founded in 2017 by a team of seasoned professionals, led by Dr. Chinmay Hegde, an innovator, technologist, and thought leader in space, is a pioneer in building advanced AI and ML platforms that are revolutionizing key infrastructure sectors with a key focus on leveraging Urban Analytics. As a centralized intelligence platform, heralds a new era of sophisticated solutions designed to propel sustainable and forward-thinking operational strategies. By leveraging the platform, organizations can experience up to a 30% increase in revenue growth, a 10%-30% increase in planning efficiency, and a 10%-30% reduction in expenses. Intelligence Platform is implemented in the ambitious Uttar Pradesh's UP 112, the world's largest Next-Gen Emergency Response Support System (ERSS). The Platform also played a crucial role in supporting emergency response efforts during the 2025 Prayagraj Kumbh Mela or the Maha Kumbh. Being a "Make in India platform for the Globe", Astrikos AI has spread their wings across Pan-India, Middle East and North Africa, ASEAN and North Americas.
Business Standard
an hour ago
- Business Standard
Nifty below 25,400 level; metal shares decline
The key equity benchmark traded with modest losses in early afternoon trade, as investors closely monitored the US-India trade deal. The Nifty traded below the 25,400 level. Metal shares declined for the second consecutive trading session. At 12:30 IST, the barometer index, the S&P BSE Sensex, declined 170.20 points or 0.20% to 83,069.27. The Nifty 50 index lost 54.15 points or 0.21% to 25,351.15. The broader market outperformed frontline indices. The S&P BSE Mid-Cap index fell 0.13% and the S&P BSE Small-Cap index shed 0.05%. The market breadth was negative. On the BSE, 1,919 shares rose and 1,933 shares fell. A total of 197 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.88% to 12.50. The Nifty 31 July 2025 futures were trading at 25,433, at a premium of 81.85 points as compared with the spot at 25,351.15. The Nifty option chain for the 31 July 2025 expiry showed a maximum call OI of 48.9 lakh contracts at the 26,000 strike price. Maximum put OI of 64.4 lakh contracts was seen at 25,000 strike price. Buzzing Index: The Nifty Metal index shed 0.86% to 9,540.50. The index fell 1.64% in two consecutive trading sessions. Jindal Stainless (down 2.04%), Tata Steel (down 1.92%), Steel Authority of India (down 1.73%), Jindal Steel & Power (down 1.21%), JSW Steel (down 1.13%), Hindustan Copper (down 1.12%), APL Apollo Tubes (down 0.92%), Adani Enterprises (down 0.82%), NMDC (down 0.74%) and National Aluminium Company (down 0.44%) declined. On the other hand, Lloyds Metals & Energy (up 1.31%) and Hindalco Industries (up 0.04%) edged lower. Stocks in Spotlight: Zinka Logistics Solutions rose 1.45% after the company announced that the Reserve Bank of India (RBI) has issued a Prepaid Payment Instruments (PPI) license to TZF Logistics Solutions, a wholly owned subsidiary of the company. KP Green Engineering added 1.51% after the company announced that it has secured new orders totaling Rs 52.31 crore from multiple clients across five different segments.
