Market Round Up: India Hot Tech Stocks 🔥 – Amazon Joins Trillion Club 🌈

by | 6 Sep, 2018

 

1. India’s hot tech stocks

It appropriately being World Samosa Day, let’s take a look at another great Indian diaspora success story. Technology.

With the benefit of a weak rupee, India’s tech stocks have ridden the wave of cheaper export opportunities. India’s tech index has outperformed all other sectors, with the Nifty IT gaining 35% so far this year. The main constituent beneficiaries have been Wipro, Tata Consultancy, Infosys, HCL, TCS and others who have mostly benefited from demand for IT know-how from U.S. banking and financial services; although at today’s closed they all had mixed success. Certainly, a continued cheap currency will help beef up tech outsourcing to key hubs such as Bangalore and Chennai.

Related: The EU signals it may be ready to compromise with US over tariff dispute

 

 

2. Amazon joins the $trill club

And there you have it. Amazon has also joined the trillion dollar club soon after Apple.

Early gains lifted Amazon’s value to $1 trillion only briefly, with the final close at $2,039 giving it a value of $995 billion. Apple crossed the trillion-dollar value threshold a month ago and has remained above it. Amazon becomes only the second U.S. company to hit the magic water mark.

It will be interesting to see if it can stay above the new water mark considering growing worries that Amazon is becoming too dominant a force in retail, sparking antitrust discussion even as the company expands globally and searches for a second HQ in the U.S. Time will tell.

Related: Market Round Up: Baidu’s Made in China, Brexit in the City, Factory orders give a pep

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Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
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India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

 

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