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May 10: The stock market rose for the fourth consecutive day, metal stocks rose again

The Indian stock market closed in the green mark on the first day of the week with good momentum. The benchmark indices BSE Sensex and NSE Nifty were up…

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May 10: The stock market rose for the fourth consecutive day, metal stocks rose again

The Indian stock market closed in the green mark on the first day of the week with good momentum. The benchmark indices BSE Sensex and NSE Nifty were up around 0.7% at the close of the market. It was also the fourth consecutive day in the stock market. Most of the metal stocks rose. Let’s see what was important in the market on Monday-

With the boom, the Sensex has reached above 49,500. At the same time, the Nifty 50 index was also close to 14,950 at the time of closing the market.

10 May Business Highlights

The BSE Sensex gained 296 points, while the NSE Nifty 50 index gained 119 points.

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At the time of closing the stock market, 5 out of 30 stocks of the Sensex pack remained in the red mark. The Nifty pack gained 38 shares in 50.

In the Nifty Pack, shares of UPL, Hindalco, Wipro, Tata Steel, Sun Pharma, Divis Labs, Bajaj Finserv, Grasim and JSW Steel made their 52-week peak.

The Nifty Smallcap 100 and Nifty Midcap 100 indices closed in the opposite direction on 7 May. The midcap index weakened by 0.94% while the smallcap index gained 1.53%.

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The Volatility Index (VIX) is down 2.88% to 20.22.

Market movements

Nifty

Open – 14,928.25
Close – 14,942.35
Variation – (+ 0.80%)
High – 14,966.90
Lo- 14,892.50

Sensex

Open- 49,496.05
Close – 49,502.41
Variation – (+ 0.60%)
High- 49,617.47
Lo- 49,412.05

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What is the reason for the strength in the market?

For the fourth consecutive day in the market, the good signs of the foreign stock market played an important role in the hold of the bulls. In the economy of the RBI last week, the announcements made to maintain liquidity have been affected. With the continuous bounce, the market has now reached its previous valuation. Investors are also happy with the fourth quarter results. Despite the increasing cases of Corona, the absence of a nationwide lockdown also gives investors some relief. Recently, some states have also seen a decrease in Kovid cases.

Which sector did how well?

On the first day of the week, all the sector-based indices of the Nifty closed in the green stock market . The Nifty Metal Index gained the most by 3.14%. It had also strengthened by over 4.5% in the past day. Strongness in the pharma sector was also around 3%. At the same time, the boom in the Nifty Auto and Energy sectors was around 1.5%. The Bank, Reality and Financial Services index closed up around 0.75%. Apart from this, FMCG gained 0.24% while IT index gained 0.02%.

Nifty-50 shares seen the fastest in these stocks

Coal India (+ 7.45%)
UPL (+ 7.18%)
Hindalco (+ 6.15%)
IOC (+ 4.70%)
Tata Motors (+ 4.00%)

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These shares of Nifty-50 are broken.

Shree Cement (-1.90%)
Britannia (-1.37%)
Ultratech Cement (-1.22%)
Infosys (-0.96%)
Hero MotoCorp (-0.86%)

Stocks that remain most active

According to Value, Tata Steel, Hindalco, and Tata Motors were the three most active stocks in the Nifty. At the same time, according to the volume, the stock market of Tata Steel, Coal India, and SBI dominated.

What is the signal for next

The constantly growing Corona cases can be a worry for the market. Investors will also be watching the fourth quarter results for the next few days. Investors should trade with caution.

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Manvendra Chaudhary, with over 5 years of professional experience as CEO of Unique News and Megalent Marketing, shares insights on life, business, and health for your success.

World

Hims & Hers CEO Andrew Dudum Says Wants to Hire Student Protesters Backlash Underway

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Hims & Hers CEO Andrew Dudum Says Wants Hire Student Protesters Backlash Underway

Andrew Dudum, CEO and founder of Telemedicine Company Hims & Hers is facing flak on the social media after his reported statement that he wants to hire students and protestors who are taking part in the protest in support of Palestinians in Universities across the US.

A number of tech sector founders has also condemned his statements.

Dudum had posted on X,

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“If you’re currently protesting against the genocide of the Palestinian people and for your university’s divestment from Israel, keep going. It’s working. There are plenty of companies and CEOs eager to hire you, regardless of university discipline.”

He also posted a link to a page showing open positions at Hims & Hers.

X users have expressed their disapproval and have even called for a boycott Hims & Hers, and others said they are selling their stock in the company.

Cofounder of Palantir Technologies as well as the managing partner of early stage venture capital firm 8VC Joe Lonsdale responded on X and said

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“Real moral courage doesn’t involve joining a mindless mob, chanting anti   U.S. and other woke pablum, following instructions not to debate or discuss your positions at all yet being indignantly righteous, while large numbers in the mob chant for violence and block Jewish students.”

While Hims & Hers spokesperson said Dudum were not available for comments, old posts by Dudum have been unearthed which puts in context his actions. Days before the horrific attack by Hamas’ terrorist against Israel on October 7, Dudum had posted –

 “In pursuit for peace: Our leaders need to embrace nuance.”

Dudum further explained that he is a Palestinian American and had roots in and family in the West Bank and Gaza and said Hims & Hers’ values are based on a respect for human dignity and life.

Dudum wrote

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“It is upon those values that I believe all leaders and CEOs should use their platform today to call for an immediate cease   fire. To actively recognize Israel’s right to defense and also recognize the means and manner in which they are responding violates international law. I ask us to find nuance, and share our voice today to help save innocent lives.”

Deadly protests have hit U.S. college campuses through last month and protest encampments have sprung across more than 40 colleges nationwide.

Police crackdown is on and there have been more than 1,900 arrests or detainments following a wave of activism at universities across the country.

Hims & Hers is a Telemedicine Company that links consumers with licensed healthcare professionals, enabling access to high-quality care for conditions related to sexual health, mental health, and more. It also offers its own range of products and is in a partnership with Los Angeles-based Hustle & Co. on media relations.

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Also Read: Brazil Dam Collapse Amid Heavy Rainfall and Flood; Watch Video Here

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World

More Trouble For Microsoft, OpenAI: Eight US Newspaper Publishers File Lawsuit For Copyright Infringement

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More Trouble For Microsoft, OpenAI: Eight US Newspaper Publishers File Lawsuit For Copyright Infringement

Trouble for Microsoft and OpenAI over copyright infringement is not coming to an end, as they face several lawsuits for violating copyrights.

On Tuesday, eight US newspaper publishers sued Microsoft for illegally reusing articles in AI products.

The 98-page long lawsuit further accused the tech companies of attributing erroneous information to the publishers.

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The eight newspapers that have filed the lawsuits include the New York Daily News and the Chicago Tribune.

They allege that OpenAI’s ChatGPT used their copyrighted articles to perfect its language models without permission.

The lawsuit was filed in a New York federal court on Tuesday. The publishers claim that OpenAI’s large language models, GPT-2 and GPT-3, were perfected using datasets containing text from their newspapers.

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The language models are designed to produce text based on human inputs and reproduce copies of the publishers’ works. Microsoft has been indicted for using newspapers for its Bing search index but seldom provided links to the original articles. Four months ago, The New York Times also filed a lawsuit against OpenAI, accusing the tech giant of using data from its past content. It also asked for consent for usage, criticizing the use of full article excerpts in chatbot responses.

The latest lawsuit filed by the eight news outlets also demanded consent and fair value for using their content to perfect the AI language models. The lawsuit alleged that the AI tools literally regurgitate their content without directing users to the content source.

The lawsuit filings stated, “This lawsuit arises from defendants purloining millions of the publishers’ copyrighted articles without permission and without payment to fuel the commercialization of their generative artificial intelligence products, including ChatGPT and (Microsoft’s) Copilot.”

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The eight newspapers that instituted the lawsuits are as follows:

  • The New York Daily News and The Chicago Tribune, both owned by Alden Global Capital
  • The Orlando Sentinel
  • The Sun Sentinel
  • The San Jose Mercury News
  • The Denver Post
  • The Orange County Register
  • The St. Paul Pioneer Press

OpenAI’s Response

OpenAI did not directly respond to the accusations but stated that it takes great care to support the news and media outlets. It also stated it is in continuous partnerships and conversations with various news outlets around the world to explore new opportunities, discuss problems, and seek out solutions.

Microsoft also stated that OpenAI has entered into fruitful partnerships with a number of publishers, which includes The Financial Times, The Associated Press, Spanish conglomerate Prisa Media, and Germany’s Axel Springer.

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Net Worth

Alan Patricof Net Worth 2024: How Much is the American Investor Worth?

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Alan Patricof Net Worth 2024: How Much is the American Investor Worth?

Who is Alan Patricof?

Alan Patricof is a prominent figure in the American investment landscape, renowned for his contributions to venture capital. With a career spanning over four decades, Patricof has been instrumental in shaping the growth of numerous global companies, including America Online, Apple Computer, and Audible. His legacy extends beyond business, with involvement in community organizations and government initiatives.

Alan Patricof Career

Alan Patricof’s career in venture capital began in the industry’s early days. He founded Patricof & Co. Ventures Inc., a precursor to Apax Partners, one of the world’s leading private equity firms. Later, he established Greycroft Partners, focusing on early and expansion-stage investments in digital media. Throughout his career, Patricof’s vision and leadership have played a pivotal role in advancing the venture capital field.

Alan Patricof’s Net Worth

As of May 3, 2024, Alan Patricof’s estimated net worth stands at over $1 million. His wealth is derived from various investments, including holdings in Boston Properties Inc. and successful ventures in digital media. Despite humble beginnings, Patricof’s entrepreneurial spirit and strategic acumen have propelled him to financial success.

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Alan Patricof Age

Born in 1934, Alan Patricof is currently in his late eighties. Despite his advanced age, he remains active in the business world, leveraging his wealth of experience to mentor emerging entrepreneurs and drive innovation.

Alan Patricof Family: Wife and Children

Alan Patricof has been married to his wife Susan for over 48 years. Together, they have three children and seven grandchildren. Family holds great importance to Patricof, and he credits his upbringing and heritage for shaping his values and work ethic.

Alan Patricof Height and Weight

While specific details about Alan Patricof’s height and weight are not readily available, his stature in the investment community is undeniable. Patricof’s impact transcends physical measurements, as he continues to leave a lasting legacy in venture capital and philanthropy.

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Also Read: Mike Markkula Net Worth 2024: How Much is the Former CEO of Apple Worth?

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