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After 2 days of losses, equity indices surge on value buying, global cues (Roundup)
Mumbai, June 29 (IANS) Value buying, along with broadly positive global bourses and a recovery in Indian rupee, aided the key Indian equity indices to make substantial gains on Friday.
Both the BSE Sensex and NSE Nifty50 ended over one per cent higher after two days of consecutive losses.
Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,714.30 points — up by 125.20 points or 1.18 per cent — from its previous close of 10,589.10 points.
The barometer 30-scrip Sensex on the BSE, which had opened at 35,128.16 points, closed at 35,423.48 points — higher by 385.84 points or 1.10 per cent — from its previous session’s close of 35,037.64 points.
Sensex touched a high of 35,459.05 points and a low of 35,099.65 points during the intra-day trade.
In the broader markets, the S&P BSE mid-cap rose by 1.81 per cent and the S&P BSE small-cap ended 1.92 per cent higher from its previous close. The BSE market breadth was bullish with 1,830 advances and 757 declines.
“After trading the week on a fairly negative note, benchmark indices traded today (on Friday) with gains as investors shrugged off reason concerns and took to buying stocks at lower levels,” said Abhijeet Dey, Senior Fund Manager for Equities at BNP Paribas Mutual Fund.
Despite the underlying sentiment being fragile, stocks across the globe recovered from the recent sell-off to trade higher, he said.
“The bounce back came on the back of positive global cues,” said Deepak Jasani, Head of Retail Research at HDFC Securities, adding that major Asian markets closed on a positive note and European indices like FTSE 100, CAC 40 and DAX also traded in the green.
According to Dhruv Desai, Director and Chief Operating Officer at Tradebulls, improved domestic sentiments after the rupee recovered from its record low against the US dollar also supported the markets.
The rupee ended at 68.47 per dollar, 32 paise stronger than its previous close of 68.79 per greenback.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 157.15 crore while the domestic institutional investors bought stocks worth Rs 2,262.83 crore.
Sector-wise, all the indices ended on a positive note with the S&P BSE consumer durables index gaining the most, by 576.31 points. It was followed by the capital goods and oil and gas indices which rose by 475.61 points and 368.85 points respectively.
The major gainers on the Sensex were Tata Steel, up 3.61 per cent at Rs 567.85; Yes Bank, up 3.16 per cent at Rs 339.60; Reliance Industries, up 2.99 per cent at Rs 972.95; Larsen and Toubro, up 2.86 per cent at Rs 1,271.30; and Adani Ports, up 2.75 per cent at Rs 372 per share.
The top losers were IndusInd Bank, down 1.45 per cent at Rs 1,939.30; Hero MotoCorp, down 1.19 per cent at Rs 3,472.05; HDFC Bank, down 1.17 per cent at Rs 2,108.05; Mahindra and Mahindra, down 1.15 per cent at Rs 896.80; and Sun Pharma, down 0.83 per cent at Rs 560.55 per share.
–IANS
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International online casino Casino Days has published a report sharing their internal data on what types and brands of devices are used to play on the platform by users from the South Asian region.
Such aggregate data analyses allow the operator to optimise their website for the brands and models of devices people are actually using.
The insights gained through the research also help Casino Days tailor their services based on the better understanding of their clients and their needs.
Desktops and Tablets Lose the Battle vs Mobile
The primary data samples analysed by Casino Days reveal that mobile connections dominate the market in South Asia and are responsible for a whopping 96.6% of gaming sessions, while computers and tablets have negligible shares of 2.9% and 0.5% respectively.
The authors of the study point out that historically, playing online casino was exclusively done on computers, and attribute thе major shift to mobile that has unfolded over time to the wide spread of cheaper smartphones and mobile data plans in South Asia.
“Some of the reasons behind this massive difference in device type are affordability, technical advantages, as well as cheaper and more obtainable internet plans for mobiles than those for computers,” the researchers comment.
Xiaomi and Vivo Outperform Samsung, Apple Way Down in Rankings
Chinese brands Xiaomi and Vivo were used by 21.9% and 20.79% of Casino Days players from South Asia respectively, and together with the positioned in third place with a 18.1% share South Korean brand Samsung dominate the market among real money gamers in the region.
Cupertino, California-based Apple is way down in seventh with a user share of just 2.29%, overshadowed by Chinese brands Realme (11.43%), OPPO (11.23%), and OnePlus (4.07%).
Huawei is at the very bottom of the chart with a tiny share just below the single percent mark, trailing behind mobile devices by Motorola, Google, and Infinix.
The data on actual phone usage provided by Casino Days, even though limited to the gaming parts of the population of South Asia, paints a different picture from global statistics on smartphone shipments by vendors.
Apple and Samsung have been sharing the worldwide lead for over a decade, while current regional leader Xiaomi secured their third position globally just a couple of years ago.
Striking Android Dominance among South Asian Real Money Gaming Communities
The shifted market share patterns of the world’s top smartphone brands in South Asia observed by the Casino Days research paper reveal a striking dominance of Android devices at the expense of iOS-powered phones.
On the global level, Android enjoys a comfortable lead with a sizable 68.79% share which grows to nearly 79% when we look at the whole continent of Asia. The data on South Asian real money gaming communities suggests that Android’s dominance grows even higher and is north of the 90% mark.
Among the major factors behind these figures, the authors of the study point to the relative affordability of and greater availability of Android devices in the region, especially when manufactured locally in countries like India and Vietnam.
“And, with influencers and tech reviews putting emphasis on Android devices, the choice of mobile phone brand and OS becomes easy; Android has a much wider range of products and caters to the Asian online casino market in ways that Apple can’t due to technical limitations,” the researchers add.
The far better integration achieved by Google Pay compared to its counterpart Apple Pay has also played a crucial role in shaping the existing smartphone market trends.
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