Asian markets traded mixed on Wednesday due to fading AI momentum, elevated oil prices, and inflation concerns, with Japan's Nikkei 225 edging up and South Korea's Kospi gaining.
NEWSAIMarket veteran Dipan Mehta advises investors to be selective, highlighting mid-cap IT firms like Coforge and Happiest Minds as outperformers. He notes challenges for large-cap IT due to AI disruption and suggests opportunities in engineering R&D, specialty chemicals, and real estate, while cautioning on aviation.
GitLab is laying off 350 employees (14% of workforce) and exiting 22 countries to focus on the AI-driven 'agentic era'. The company reported strong Q1 results, beating Wall Street estimates, and plans to reinvest savings into R&D, particularly its Duo Agent Platform.
NEWSAINoida-based ThynkTech India OPC Pvt Ltd abruptly closed its Pune office, leaving over 500 engineers jobless. Employees allege the company collected a ₹15,000 laptop deposit and withheld salaries for two months. CEO Harshal Thakre has been detained as police investigate a financial loss of ₹11.25 lakh.
NEWSAIIndia's advertising market is projected to grow nearly 10% in 2026, reaching ₹2 lakh crore despite global tensions and inflation. Marketers face unprecedented volatility, juggling fragmented markets and new platforms like AI and CTV, while balancing long-term brand building with immediate results.
NEWSAIThe RBI is expected to maintain the repo rate at 5.25% on June 5, 2026, despite inflation and currency pressures. Experts believe FD rates will remain stable due to stabilized liquidity, credit, and deposit growth, suggesting investors may wait longer for rate hikes.
India is set to eliminate capital gains tax on foreign portfolio investors' holdings in government securities to attract overseas investment and cushion its economy from the Middle East crisis. The move, cleared by the Union Cabinet, aims to counter significant foreign capital outflows and rupee depreciation.
