Welcome to Non-Fungible Tokens (NFT) - digital constructs authenticated using an abstract mathematical application. An NFT is a unique token added to some digital construct and registered on a blockchain with details of ownership. The construct itself might be free (it often is) but the NFT along with the construct is worth "more". The NFT market didn't exist until 2017 when "cryptokitties", or virtual cats, became available with NFTs. The market is now worth around $350 million. Speculators believe it is likely to be worth much more in future.
Markets ended at record closing highs for the second day in a row on institutional buying.
ICICI Bank extended yesterday gains, rising 10% in two trading sessions
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
Experts caution that the rally in these stocks may fizzle out soon, as the overall market sentiment still remains weak.
Real test of the rally in this segment will be the upcoming result season.
Investors booked profits at higher levels despite the growth oriented Budget.
