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"Even descent results are going unnoticed. Take the Infosys and Axis Bank results where the outlook going forward is bullish, but the stocks are down. The markets will be range-bound between 16k to 17.5k Nifty levels."

The NFT interest based on sales and the number of unique buyers had skyrocketed in January of this year. However the interest has started to drop.

The tax department is sure to question the sharp drop in the valuation of these virtual digital assets, tax experts said. The department would scrutinise NFT transactions on suspicion that some of the money may have been accepted in cash to reduce the tax outgo.

Buffett said Berkshire, long faulted for holding too much cash, boosted its combined stakes in oil company Chevron Corp and "Call of Duty" game maker Activision Blizzard Inc nearly six-fold to more than $31 billion.

Charlie Munger, who is 98, said the stock market has become “almost a mania of speculation.” He alluded to the fact that more people are trading today than ever. Even computers are trading against other computers, he emphasized.

Buffett, 91, has run Berkshire since 1965.

Bankers and lawyers said the latest move is aimed at making more attractive for institutional investors to participate in the LIC share sale.

The initial public offer (IPO) of Life Insurance Corporation (LIC) will also open from May 4 for subscription.

"One should not hurry and jump into these IT names just because these stocks are down 20-25%."

Market participants are swearing by the metaverse theme, with or without Meta.