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Weak rupee, global cues subdue equity indices; energy stocks dip (Roundup)
Mumbai, Aug 31 (IANS) Caution ahead of key macro-economic data points, along with investors’ fears over the rise in global trade protectionist measures subdued the key Indian equity indices on Friday.
According to analysts, a weak Indian rupee, coupled with consistent outflows of foreign funds as well as volatile crude oil prices dampened investors’ sentiments.
Index-wise, the Nifty50 on the National Stock Exchange (NSE) closed at 11,680.50 points, lower by just 3.70 points or 0.03 per cent from its previous close of 11,676.80 points.
Similarly, the barometer S&P BSE Sensex closed in the negative territory. It opened at 38,704.84 points, closed at 38,645.07 points, lower by 45.03 points or 0.12 per cent from the previous close of 38,690.10 points.
The 30-scrip sensitive index touched an intra-day high of 38,838.45 points and low of 38,704.84 points.
However, in terms of the broader markets, the S&P BSE Mid-cap gained by 0.35 per cent while the S&P BSE Small-cap ended 0.55 per cent higher than its previous close.
The BSE market breadth was bullish with 1,440 advances and 1,236 declines.
“The market failed to maintain the opening positive momentum and ended up with a flat note amid lingering trade tensions,” said Vinod Nair, Head of Research, Geojit Financial Services.
Globally, major Asian markets closed on a negative note, barring the Kospi index. European indices like FTSE 100, CAC 40 and DAX traded in the red.
“Despite negative bias in dollar index, the rupee continued to lose its sheen, breaking the Rs 71 mark for the first time due to higher oil price concerns. Investors are also awaiting June quarter GDP data to get direction from the current consolidation,” Nair said.
Said Deepak Jasani, Head of Retail Research, HDFC Securities: “Markets ended flat on Friday after a volatile session. It was the first trading session of the September near month series.
“The main indices ended flat despite negative global cues after (US President) Donald Trump stepped up his tough talk on trade.”
On Friday, the Indian rupee slipped to a fresh record low of 71 against the US dollar due to the persistent demand for the US currency amid rising crude prices.
The rupee settled at a record closing low of 70.99 – 71 per US dollar, 25 paise weaker than its previous close of 70.74 per greenback.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrips worth Rs 212.81 crore whereas domestic institutional investors bought stocks worth Rs 171.92 crore.
Sector-wise, the S&P BSE healthcare index rose 339.54 points, the IT index was up 211.25 points and the capital goods index rose by 195.50 points.
In contrast, the S&P BSE metal index declined by 87.11 points, the energy index fell by 70.76 points and oil and gas stocks ended 42.58 points lower than its previous close.
The top gainers at the Sensex were Tata Motors, up 2.87 per cent at Rs 267.10; Tata Motors (DVR), up 2.63 per cent at Rs 142.20; Power Grid, up 2.37 per cent at Rs 200.60; Sun Pharma, up 1.99 per cent at Rs 652.20; and Bajaj Auto, up 1.65 per cent at Rs 2,746.35 per share.
The majors losers were Yes Bank, down 5.11 per cent at Rs 343.40; Reliance Industries, down 2.60 per cent at Rs 1,240.95; Mahindra and Mahindra, down 1.75 per cent at Rs 965.25; Maruti Suzuki, down 1.25 per cent at Rs 9,097.25 per share; and Vedanta, down 1.13 per cent at Rs 227.20 per share.
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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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