Sensex, Nifty open higher as IT stocks rally; Infosys, Wipro among top gainers
He added, 'Fundamentally strong banking stocks have drifted down in the last month while mid and smallcaps with elevated valuations continue to remain resilient. This is a liquidity-driven short-term aberration. Long-term investors can exploit this value discrepancy by moving away from highly valued mid and smallcaps to the safety of high-quality largecaps.'Analysts said that although yesterday's upswing stalled after reaching 24,670, the positioning of oscillators and the reversal patterns that are about to mature in shorter periodicities encourage a continued upside view.Targets in the 24,850–25,200 range remain in play. However, a slippage past 24,540 could force the market to abandon short-term upswing hopes, though a direct fall to 24,000 appears unlikely today.The early session reflects cautious optimism, with investors closely watching global events, domestic cues, and sectoral trends while selectively positioning for quality stocks.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- EndsTune InMust Watch
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Hindustan Times
4 minutes ago
- Hindustan Times
Mumbai gets 2 bridges and a promenade
Mumbai: On the eve of Independence Day, the Maharashtra government on Thursday inaugurated five infrastructure projects in the city, including a curved cable-stayed bridge that forms an extension of the Santacruz Chembur Link Road (SCLR), a new arm of the Kalanagar Flyover, and a promenade for pedestrians and cyclists along the Mumbai Coastal Road. Mumbai, India - August 14, 2025: A night view of the SCLR bridge after Open for the vehicles from today , The Santacruz Chembur Link Road (SCLR) Extension Phase-I achieves a major milestone with the successful launch of the 215m Orthotropic Steel Deck (OSD) span over the Vakola Flyover. Asia's first cable-stayed bridge with a sharp 100m curvature, Soaring 25m above ground, seamlessly crossing the Western Express Highway in Mumbai, India, on Thursday, August 14, 2025. (Photo by Satish Bate/ Hindustan Times) (Hindustan Times) 'These projects are set to significantly enhance Mumbai's urban mobility, strengthen infrastructure resilience and boost workforce capabilities,' said Sanjay Mukherjee, metropolitan commissioner, Mumbai Metropolitan Region Development Authority (MMRDA). The most significant project for motorists is the cable-stayed bridge passing over the Western Express Highway (WEH), which is the third in a series of extensions to the SCLR, whose construction commenced in 2016. The new bridge will allow motorists coming from the eastern suburbs and the Bandra Kurla Complex (BKC) via the SCLR to bypass the congested Kalina junction and land directly on the WEH after the Vakola Flyover. 'The completion of the final phase of the Santacruz–Chembur Link Road, with South Asia's first sharp-curve cable-stayed bridge, is a proud achievement that will ease travel between the Eastern and Western Express Highways,' said chief minister Devendra Fadnavis, during Thursday's online inauguration ceremony at BKC. Deputy chief minister Eknath Shinde added that people will now be able to travel between Chembur and Dahisar without a traffic signal. However, despite the new bridge, which was built at a cost of around ₹1,000 crore and faced years of delays, constraints regarding the slow movement of vehicular traffic on the WEH remain, as was the case on Thursday evening. Fadnavis said during the inauguration ceremony that this would be solved once the second phase of the coastal road is opened in a few years. 'Since the Western Express Highway carries the load of 60% of vehicles from the western suburbs, we are constructing a sea link and northern coastal road right up to Bhayandar. This will be a parallel highway that will alleviate traffic woes,' he said. Another project inaugurated on Thursday was a 340-metre arm of the Kalanagar Flyover, built at a cost of ₹20 crore. Vehicles coming from Dharavi's T Junction can now head towards south Mumbai and the Bandra-Worli Sea Link by avoiding the Kalanagar junction. During the inauguration ceremony, Fadnavis shared that his previous government had taken a decision in 2015-16 to increase the number of entry-exit points to BKC. With the SCLR bridge and the Kalanagar Flyover's partial opening, five of the six entry-exit points are now ready. The only remaining entry-exit point is also part of SCLR, linking the Asian Heart Hospital Road in the central business district with the Vakola flyover, outside the Indian Air Force establishment in Santacruz. This link is expected to be ready only in December. Starting Saturday, the first phase of the Mumbai Coastal Road in south Mumbai, inaugurated last year, will also be open 24/7 for motorists rather than the current timings of 7 am to midnight. The state government also inaugurated 5.25 km of the 7.5-km-long promenade along the coastal road, part of which replaces the earlier Worli Sea Face promenade. The promenade stretches set to open are between Priyadarshini Park and Haji Ali, and then from Baroda Palace to Worli. Four pedestrian underpasses—located at Bindumadhav Thackeray Chowk in Worli, the Worli Dairy School at Khan Abdul Gaffar Khan Marg, the Haji Ali junction and through the Akriti parking lot at Bhulabhai Desai Marg—were also opened. 'Both these projects are essential in their own way, and Mumbaikars have been eagerly waiting for them,' said transport expert Vivek Pai. 'The SCLR extension will save commuters time by directly connecting the SCLR to WEH signal-free. On the other hand, the coastal road promenade will increase the green lungs of the city and finally provide pedestrian connection to the sea once again.' Fadnavis also cautioned motorists not to display their 'driving skills' and endanger their own lives and those of others on the coastal road. 'There are surveillance cameras installed on the entire stretch of the coastal road. You will get caught, and a ticket will get delivered to your doorstep. Please maintain traffic discipline,' he said. Meanwhile, MMRDA and the Mumbai Metro Rail Corporation (MMRC) also opened a 100-metre foot over bridge at Terminal 2 of the Chhatrapati Shivaji Maharaj International Airport. MMRC posted on X: 'There will be no more rushing through traffic before your flight. Now, from CSMIA–T2 Metro Station to Airport Terminal-2 in just a few steps. The newly built bridge connects Lift Entry/Exit A1 at ground level straight to the terminal.'
Mint
4 minutes ago
- Mint
Hedge funds shift bets to double down on Big Tech amid AI boom
By Anirban Sen and Carolina Mandl NEW YORK, Aug 14 (Reuters) - Wall Street's largest hedge funds, Bridgewater Associates, Tiger Global Management and Discovery Capital, increased their exposure to Big Tech in the second quarter amid a generational boom in the growth of artificial intelligence. During the June quarter, hedge funds cut their exposure to laggards in industries like aerospace and defense, and consumer and retail, as part of a broader move back to momentum investing. It marks a big shift from earlier this year when bets on Big Tech had soured for top money managers due to tariff-fueled volatility in financial markets, with investor concerns around rising inflation and fears of a bubble in AI triggering a sell-off in "Magnificent Seven" stocks. Since then, tech stocks have staged a big comeback. The S&P 500 is up 10% so far this year, buoyed largely by the largest tech companies, which account for nearly a third of the combined market cap of companies on the index. Outside technology, some hedge funds, such as Lone Pine and Discovery, also bet on UnitedHealth Group. Berkshire Hathaway and Michael Burry's Scion Asset Management also unveiled bets on the insurer, while Soros Fund Management boosted an existing position. Shares in UnitedHealth are down 46% this year, as the company faces rising costs, a U.S. Department of Justice probe, a cyberattack and the shooting of former top executive Brian Thompson last December. The fund's positions were revealed in quarterly securities filings known as 13Fs. While backward-looking, these filings typically reveal what funds owned on the last day of the quarter and are one of the few ways hedge funds and other institutional investors have to declare their positions. Below are the details of the changes in the holdings of the top hedge funds: Bridgewater Associates added more shares in Nvidia, Alphabet and Microsoft in the second quarter. The macro hedge fund founded by Ray Dalio more than doubled its bets in Nvidia. It ended June with 7.23 million shares in the chipmaker, or 154.5% more than it had at the end of March. Nvidia was Bridgewater's biggest bet in a single stock, totaling $1.14 billion. Its holdings in Alphabet and Microsoft went up by 84.1% and 111.9%, respectively, amounting to $987 million and $853 million. Other AI-related stocks added were Broadcom ( 102.7%), to 317.8 million shares, or $317 million, and Palo Alto Networks ( 117%), to 313.8 million, or $314 million. Discovery Capital, whose founder Rob Citrone has recently been bullish on Mexico's America Movil due to its exposure to Latin America, doubled its stake in the wireless provider during the second quarter. For the quarter ended June 30, the fund amassed another 2.65 million shares, valuing its current holding in America Movil at about $95 million. Citrone's hedge fund, which generated a 52% windfall on its investments last year, has increased its exposure to Latin America as part of a strategy to diversify from U.S. holdings. During the quarter, Discovery increased its holdings in Big Tech, as it more than doubled its stake in Meta Platforms , the parent company of Facebook, while also betting on booming demand for AI as it took a new position in Nvidia-backed cloud provider CoreWeave. The hedge fund also increased its position in UnitedHealth by 13%. Tiger Global Management bought more stocks in some Magnificent Seven companies in the second quarter, including Alphabet, Nvidia, Microsoft and Meta, its 13Fs showed. Chase Coleman's hedge fund added roughly 4 million shares of Amazon and ended June with roughly 10 million shares, worth $2.34 billion. The fund also increased its bets in smaller AI-players. It added over 800,000 shares in chip-making equipment supplier Lam Research Corp, ending June with 5.26 million shares, valued at $512 million. Many changes in Philippe Laffont's Coatue Management portfolio were also around AI-related stocks. It unveiled new positions in both Arm Holdings and Oracle, adding stakes worth roughly $750 million and $843 million, respectively. Both companies have boosted AI-related business initiatives. Coatue also increased its holdings in Nvidia-backed CoreWeave, adding 3.39 million shares in the second quarter, with its stake in the company worth $2.9 billion. Lone Pine Capital took a new position in UnitedHealth Group, buying up 1.69 million shares worth about $528 million during the June quarter. (Reporting by Carolina Mandl and Anirban Sen in New York; Editing by Leslie Adler)
Time of India
an hour ago
- Time of India
Vizhinjam port to introduce new mooring system for safer and faster ship docking
T hiruvananthapuram: Vizhinjam port is set to introduce a dynamic mooring system known as shore tension system to prevent ships from being caught in surges and sway while docked. A port official stated that the machinery would arrive from the Netherlands in a few days and would be deployed within a month. "The company that brings and installs the machinery will train staff here to handle it," the official said. The system will automatically adjust the tension of the mooring lines used to tie ships to the berth, counteracting the pressure from waves and surges. It also reduces stress on the mooring lines connected to the ships. Mediterranean Shipping Company (MSC), whose ships predominantly use the port, had recommended the system. This will mark the first installation of such a facility in an Indian port. The shore tension system will also aid in speeding up the loading and unloading of containers and reduce the turnaround time of ships. "As unloading of containers is carried out in a semi-automated manner, the stability of the ships is important," the official added. The port will also be able to accommodate more ships as they can be berthed closer than usual and unloading operations need not be delayed during rough seas or strong winds. The introduction of the modern technology will also facilitate faster movement of containers when exim operations (international trade) commence by the end of the year. Sources said that initially the shore tension system would be trialled for the exim operations. Currently, ships are tied manually using heavy ropes to the mooring points in the berth. The machine-assisted system will maintain the ropes' integrity and prevent snapping under pressure, ensuring safety. As of last month, the port has handled over 392 ships, including 23 ultra-large container vessels and has handled 8.36 lakh containers. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Happy Independence Day wishes , messages , and quotes !
