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<ul><li>Investors rushed to Zerodha as two exciting IPOs⁠— from IRFC and Indigo Paints⁠— were open for subscription.</li><li>CEO Nithin reportedly admitted that the systems were down for a bit, but not completely crashed.</li><li>Zerodha has nearly 3 million users, <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms">as per data</a> in September 2020, and is the largest institutional broker in the country.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>. </li></ul>India's largest institutional broking firm Zerodha’s platform crashed during the peak market hours on Wednesday, as users rushed to place orders for the two hot initial public offers in the market — Indian Railway Finance Corporation and Indigo Paints. Furious investors complained on Twitter as the website restricted them from applying for the IPOs. Zerodha currently owns the largest share of the pie in the institutional broking industry and has nearly 3 million users, <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms">as per data</a> in September 2020. Zerodha’s CEO Nithin Kamath <a href="https://economictimes.indiatimes.com/tech/tech-bytes/users-complain-of-zerodha-outage-as-indigo-paints-ipo-opens/articleshow/80362725.cms">told ET</a> that the systems were down for a bit, but not completely crashed. “Multiple tries would have worked. The IPO has a lot of people trying to apply at the same time. It is slow, but working,” he added. Business Insider reached out to Zerodha for comments but we are yet to receive a response. <div type="twitter" handle="real_manikant" handlename="Manikant" image="http://pbs.twimg.com/profile_images/1348894458952130561/HZ-T19JA_normal.jpg" favoritecount="66" retweetcount="6" status="Come on #zerodha. This is not the first time it's happening. Since morning the Console is down. What are you guys d… https://t.co/3gXgQomop8" createdat="1611128077000" id="1351795251791319041"></div> <div type="twitter" handle="1Riteshgupta_" handlename="Ritesh" image="http://pbs.twimg.com/profile_images/1285920568768737280/v3_ytfeX_normal.jpg" favoritecount="1" retweetcount="0" status="@Nithin0dha @zerodhaonline why I can't buy / trade in bank nifty 33000 strike this week option contract. Very bad e… https://t.co/H4RShEBgre" createdat="1611137187000" id="1351833460512493568"></div> <div type="twitter" handle="Kishore64653096" handlename="Kishore K" image="http://pbs.twimg.com/profile_images/1193798534308364290/KCbNIV_i_normal.jpg" favoritecount="3" retweetcount="1" status="#zerodha completely disappointing on emergency situations. Not for the first time https://t.co/vrA29M2XPe" createdat="1611142108000" id="1351854099558330370"></div> According to the <a href="https://downdetector.in/status/zerodha/">Down Detector website</a>, the outage peaked around 11:15 am and normalised around 5 pm, when the market closed for IPO subscription. Hot bets — IRFC and Indigo Paints The investors have been going crazy as the IPO bonanza has lit up the street once again. The <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms">IRFC’s ₹4,634 crore IPO </a>concluded today with a subscription of a little over 3 times the offer value, and at the same time, Indigo Paints’ ₹1000 crore IPO opened for public subscription — the issue was subscribed fully within a few hours. Both the IPO received top recommendations from nearly all brokerages based on various factors from strong valuation to robust business growth and healthy financials. The<a href="https://www.businessinsider.in/stock-market/news/indigo-paints-1000-crore-ipo-to-open-on-january-20-in-india/articleshow/80248736.cms"> Indigo Paints’ IPO was hot in the grey market</a>, even before opening for public subscription. The grey market data showed that people were ready to pay a premium of ₹800-810 over the set price band of ₹1480 - ₹1490 per share. SEE ALSO: <a href="https://www.businessinsider.in/international/news/jack-ma-the-billionaire-founder-of-alibaba-and-ant-group-resurfaced-after-he-went-missing-in-china/articleshow/80360004.cms" data-type="tilCustomLink">Jack Ma resurfaces – Alibaba founder makes his first public appearance after he was feared to be “missing” for nearly two months</a> <a href="https://www.businessinsider.in/stock-market/news/why-indigo-paints-1000-crore-ipo-is-a-hit-even-before-it-opened-for-subscription/articleshow/80357759.cms" data-type="tilCustomLink">Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why</a>

Two smoking hot IPOs choke India's largest broking site Zerodha

Ahead of <keyword id="3169059" type="General" weightage="100" keywordseo="openai" source="Orion">OpenAI</keyword>'s first-ever developer conference, a significant <keyword id="15681942" type="General" weightage="20" keywordseo="chatgpt" source="Orion">ChatGPT</keyword> update has leaked, revealing a custom chatbot creator. As per leaked screenshots and videos, a custom chatbot creator has several features already available in ChatGPT using GPT-4, like web browsing and data analysis, reports 'The Verge'. The news was first reported by 'The <keyword id="1323134" type="General" weightage="50" keywordseo="decoder" source="Orion">Decoder</keyword>'. According to the report, OpenAI will also have a new marketplace where users can share their chatbots or browse those created by others. Moreover, an SEO tools developer, Tibor Blaho, also shared a video of the UI for the feature in action, displaying a GPT Builder option that allows users to submit a prompt -- for example, "make a creative who helps generate visuals for new products" -- to develop a chatbot. As shown in the video, there are options to select a default language, tone, and writing style for the bot on the "Create" tab. Then, on the "Configure" page, there are fields for naming, describing, and giving instructions to the bot on what it can and cannot do. A user called <keyword id="128333" type="General" weightage="80" keywordseo="choi" source="Orion">Choi</keyword>, who initially posted a summary of the rumoured updates a few days ago on X, also claimed that OpenAI is planning to release an enterprise 'Team' subscription plan with 'Flexible' and 'Annual' options. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/reliance-jio-launches-jiomotive-a-vehicle-tracking-and-diagnostics-device/articleshow/105006068.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/reliance-jio-launches-jiomotive-a-vehicle-tracking-and-diagnostics-device/articleshow/105006068.cms" target="_blank">Reliance Jio launches JioMotive, a vehicle tracking and diagnostics device</a><a href="https://www.businessinsider.in/tech/news/zerodha-app-goes-down-company-acknowledges-issue-as-users-complain-on-social-media/articleshow/104999575.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/zerodha-app-goes-down-company-acknowledges-issue-as-users-complain-on-social-media/articleshow/104999575.cms" target="_blank">Zerodha acknowledges app crash after users complain on social media</a><a href="https://www.businessinsider.in/stock-market/news/honasa-ipo-how-to-check-allotment-status-of-mamaearth-ipo/articleshow/104945253.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/honasa-ipo-how-to-check-allotment-status-of-mamaearth-ipo/articleshow/104945253.cms" target="_blank">Honasa IPO – How to check Mamaearth allotment, GMP, listing date and more</a>

OpenAI may release 'GPT builder' option for ChatGPT subscribers soon

New Delhi, From the depths of despair to an adrenaline-pumping ascent, <keyword id="6422161" type="UNKNOWN" weightage="20" keywordseo="equity-investors">equity investors</keyword> traversed the whole gamut of emotions in 2020 as a once-in-a-lifetime pandemic followed by equally unprecedented stimulus measures whiplashed <keyword id="156526" type="PERSON" weightage="20" keywordseo="Global-stock-markets">global stock markets</keyword>, upended conventional wisdom and blurred the lines between investing and speculation. Dalal Street witnessed gut-churning fluctuations, with the BSE <keyword id="6484188" type="COMPANY" weightage="20" keywordseo="sensex">Sensex</keyword> swinging between historic losses and eye-popping gains, sometimes in the same session, and confounded veterans and rookies alike. No one had anticipated that the Sensex and Nifty would be bludgeoned in late March, or that they will stage a remarkable recovery almost immediately and soar to all-time highs by the end of the year. But, 2020 has been a year full of events outside the realm of imagination. The year started off on an ominous note for financial markets when on January 3 top Iranian commander Qasem Soleimani was killed in a US drone strike in Iraq, ratcheting up tensions in the Middle East. The Sensex tumbled more than 900 points over two sessions but resumed its upward march to hit life highs later that month. Equities largely shrugged off initial reports of a coronavirus outbreak in China, in tandem with the global bourses, and looked ahead to the Budget. However, the Sensex logged one of its biggest single-day declines on February 1 after the Union Budget failed to live up to market expectations of growth-boosting measures and fiscal discipline. The real test, alas, was ahead. From mid-February, world stocks started getting skittish as it became clear that the COVID-19 crisis would not be limited to China. To add to the woes, Yes Bank was placed under a moratorium in a rare move, triggering a crisis of confidence in the domestic banking sector. The explosive cocktail of a global market meltdown and domestic troubles proved too much to take for Dalal Street. Four of the biggest single-day declines in the history of BSE Sensex came in March 2020, leaving participants shell-shocked. Its biggest-ever plunge (in absolute terms) was on March 23, when the benchmark crashed 3,934.72 points or 13.15%. Astonishingly, March also saw some of the index's biggest up-moves amid the RBI stepping in with emergency liquidity support. The Sensex's largest-ever single-session gain came a little later on April 7, when it zoomed 2,476.26 points as investors wagered on more stimulus measures from the government to battle the economic fallout of the pandemic. The turbulence on the domestic bourses also mirrored global market turmoil. The Dow Jones suffered its worst fall, emerging market assets were routed and in a mind-boggling moment, US oil futures turned negative for the first time in history. For a while, the world stopped making any sense. With the world economy comatose and governments overwhelmed by a cataclysmic health crisis, the task of propping up the financial markets and restoring investor confidence fell to the global central banks. "2020 will probably go down in history as a year when global central bankers injected close to USD 11 trillion as stimuli to combat the COVID pandemic," said S Ranganathan, Head of Research at LKP Securities. The massive money printing by the US Federal Reserve and its peers sparked a breathtaking turnaround in global stock markets. Never bet against the Fed, as the saying goes. Flush with funds, foreign portfolio investors (FPIs) poured in billions of dollars into emerging markets, with India topping the chart in Asia. FPI net inflows into Indian equity markets have crossed ₹1.5 lakh crore (over USD 20 billion) this year -- a lifetime peak. The Sensex erased its 2020 losses on November 5, while global investors monitored the results of the tightly-contested US elections. The next booster dose for world markets came over the following few days as companies like Pfizer, Moderna and AstraZeneca began announcing positive results from their COVID-19 vaccine trials. Human innovation once again triumphed against all odds, setting off a record-shattering relief rally in equities. From November 9 to December 18, the Sensex hit fresh record highs in 22 out of the 29 sessions. For the calendar year (till December 24), the Sensex has gained 13.86%, while the Nifty has delivered returns of 12.99%. Compared to the March lows, both the indices are up by a hefty 80%. <keyword id="595023" type="PERSON" weightage="20" keywordseo="Benchmarks">Benchmarks</keyword> had another engine propelling them higher this year - <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> (RIL), which became the first Indian company to reach a market capitalisation of ₹15 lakh crore (USD 200 billion) in September. Beginning April, the Mukesh Ambani-led conglomerate announced a slew of deals to sell minority stakes in its telecom and retail arms to marquee investors like Facebook, Google, Silver Lake, KKR, Mubadala, and Public Investment Fund of Saudi Arabia. The company has raised around USD 25 billion so far this year as it seeks to ramp up its consumer-facing businesses. For a good part of the year, RIL almost single-handedly drove the domestic benchmarks higher in the absence of any buying triggers. The COVID-19 crisis also forced investors to take a relook at their sectoral allocations. "From the lows, markets started stabilising and pandemic sectors like FMCG, IT, pharma and chemicals benefitted. As the economy further opened up, growth and cyclical sectors reversed positively," said Vinod Nair, Head of Research at Geojit Financial Services. However, while stocks seem to have found their animal spirits back, there are also some murmurs of discontent. Analysts say world stock markets have developed a dangerous addiction to endless money printing by central banks, and show withdrawal symptoms of a junkie at the slightest indication of a moderation in monetary stimulus. Back home too, around half of the government's ₹20.97 lakh crore economic stimulus package comprised RBI's liquidity measures. This glut of global liquidity has pushed markets so far ahead of economic fundamentals that some are beginning to question whether the real economy matters in equity investing at all. For example, no one would be able to tell looking at the Sensex chart that the Indian economy shrank 23.9% in the first three months of FY21, and 7.5% the next quarter. Globally too, markets have been on a manic upswing even as millions have lost their jobs, small businesses are battling for survival and entire industries have been decimated. While the real economy has been ravaged by the pandemic, most financial market indicators are ruling at stratospheric levels. The BSE Sensex is currently trading at a price-to-earnings (PE) ratio of 32.89, the highest on record. To put it differently, investors are paying ₹32.89 for every rupee of future earnings of the 30 Sensex firms, compared to the previous 20-year average of around ₹19. Global market capitalisation -- the value of all the listed stocks in the world - topped USD 100 trillion for the first time ever in December. And in a classic sign of market mania, there's a rush of first-time investors eager to make a quick buck. A record 68 lakh new dematerialised (or demat) accounts were opened in India between April and October 2020, compared to nearly 49 lakh in the entire FY20, which was the highest in a decade. Experts attribute this trend to factors like increased time at home due to the lockdown, efforts to make up for lost jobs or incomes, and also FOMO, or the fear of missing out on this rally. This is also reflected in the growing popularity of discount broking apps like Zerodha and Upstox, which have dislodged traditional broking houses in terms of active clients. Like the Robinhood app in the US, such platforms have attracted the tech-savvy crowd with their slick interface and mobile-first approach which has 'gamified' the once-stodgy field of stock market investing. With Fed and FOMO playing in tandem, many questioned technicalities like PE and PB ratios. But, some analysts also maintain that 2020 was an outlier in terms of corporate earnings and hence valuation metrics like PE ratios this year are not strictly comparable to historical averages. However, even they agree that every segment of the economy would have to stage a synchronous and sensational comeback to catch up with the market projections. And if that comes to pass, 2021 would be an even more incredible year for the bourses. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a> <a href="https://www.businessinsider.in/thelife/personalities/news/from-taking-on-yahoo-to-being-tamed-by-chinas-communist-party-its-been-a-roller-coaster-decade-for-jack-ma/slidelist/79935613.cms">From taking on Yahoo to being tamed by China’s Communist Party— it’s been a roller coaster decade for Jack Ma</a> <a href="https://www.businessinsider.in/careers/news/ey-is-looking-to-hire-9000-techies-in-2021-to-boost-its-digital-services/articleshow/79936576.cms">EY is looking to hire 9,000 techies in 2021 to boost its digital services</a>

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Two smoking hot IPOs choke India's largest broking site Zerodha

Navdeep Yadav

OpenAI may release 'GPT builder' option for ChatGPT subscribers soon

IANS

Virus, vaccines and volatility: Stock market takes a wild ride in 2020

PTI

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