A look at the headlines in the sector:

  1. Shares of Bombay Stock Exchange close 33% higher after NSE debut: Companies listed on the BSE’s Sensex also hit a record high of Rs 115 lakh crore in combined market capitalisation.
  2. Snapchat owner Snap seeks $3 billion in IPO, may look for $25-billion market valuation: In its filing, the company said that it will use the proceeds for corporate purposes, which may include acquisitions.
  3. Apple selects Bengaluru’s Peenya area to set up iPhone manufacturing plant: The Karnataka government said the tech major’s decision will further boost the city’s image as the ‘most preferred destination for foreign investment’.
  4. Indian IT firms to discuss proposed changes to H1-B visa rules with Donald Trump’s officials: Meanwhile, the Centre said it would not “prejudge the outcome” of the US president’s move to tighten H1-B work visa norms for the country.
  5. Alibaba to hold majority stake in Paytm’s new e-commerce business, say reports: The Jack Ma-led Chinese online behemoth is already one of the largest investors in the website’s parent company.
  6. Sensex closes 14 points higher, Nifty by seven as markets end week on flat note: Analysts said investors were consolidating their holdings and waiting for the results of the RBI’s February 8 policy meeting.
  7. Former Cyrus Mistry aide Madhu Kannan joins Uber as Chief Business Officer for India: Kannan will be responsible for growing the company’s business in emerging markets in the Asia Pacific region.