20th April 2022
Good Morning! 

If you were keeping an eye on the stock markets yesterday you might've been surprised by the sharp fall in the Nifty50 index in the last 45 minutes. The index was down ~400 points, and that too without any notable news trigger! Everyone's wondering what the reason could've been. What do you think it was? 



- 1.23%



- 1.25%



+ 0.36%



- 0.92%



- 0.2 bps



- 6.07%

*As of market close

  • Markets: As we mentioned in the intro, stocks were down yesterday, making it the 5th straight red day for the Sensex and Nifty50. The rupee has been weak v/s the US Dollar too and weakened for the 4th day in a row yesterday.


Battle Royale For the IPL
Next auction

So there's going to be another battle between Amazon and Reliance in India, and this time Disney is involved too!
All three of them have signalled their intentions to bid for broadcasting rights for the Indian Premier League.

Besides these 3 giants, other (also very big) players including Sony Group, Zee Entertainment and fantasy-sports platform Dream11 have also bought bid-related documents from the BCCI.

The rights will be auctioned for the IPL seasons to be held between 2023 and 2027, and the winner will win global broadcasting rights to the third-largest sporting event (by the number of viewers) in the world!

Bids are expected to exceed $5 billion, and more companies may still join the race. In 2021, 38 crore people watched the IPL, so there's a lot at stake, even if some say that viewership numbers have decreased slightly this year.

Also, TV rights and online streaming rights will be sold separately, and that's what it seems Amazon's Prime Video and Disney+Hotstar would be more interested in.


Crypto Fever Still On
Money gun

We were thinking about how within our own circle we have seen interest in crypto drop a bit over the last few months, but this next story makes us feel like maybe we were looking at the wrong sample.

CoinDCX has raised $135 million. This comes just 8 months after their previous raise and they are now valued at $2.15 billion after entering the unicorn club last time.

CoinDCX is a cryptocurrency exchange. Basically, you can buy and sell Bitcoin and other cryptocurrencies easily and almost instantly on there.
They claim to have over 10 million users on their platform. We wonder how many of them have made purchases or are actively trading. CoinDCX does make it easier to buy crypto than some other exchanges with them allowing users to buy tokens for as low as Rs 100. They also provide margin trade and the option to stake digital assets to earn a return on them.

CoinDCX is apparently now planning on launching their version of a SIP where they allow individuals to keep investing a certain amount every few days.

As of now, we have 2 crypto unicorns here, how many do you think we end up with by the end of this year?

On a Lighter Note

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