Most talked about stocks of India
Tool developed by a Swiss start-up makes consumption of financial news more structured
Tech Mahindra topped the charts with a gain of 947 per cent on Thursday; HCL Technologies was up 521 per cent, according to the BSE portal. Are these numbers real?
They are but with a twist. Though these statistics appear on a dashboard on the BSEindia.com website, these are not stock prices. The TechM stock actually gained only 2.4 per cent, while HCL was down marginally at the time of writing. The numbers quoted earlier represent a measure of market attention for these stocks. A click on these names takes you to a snapshot of events in the past 30 days, interesting graphs and tweets. The market attention is measured by analysing what the ‘financial crowd’ is talking about, in traditional and social media. For example, these big Sentifi analyses information technology over the past four years, companies are in the Sentifi extracts insights news because of the layoffs of billions of information, across the sector. while at the same time
Two months ago, BSE reducing this information tied up with a Swiss to a summary of a financial technology handful of events and start-up, called Sentifi. pattern of events driving Using a cross-platform market attention and valuation application, this company of stocks,” Bally, aims to simplify the who was in India recently, way financial news is told this newspaper. accessed. “Thanks to the new
Envisaged as the social media sharing culture, largest 'Financial CrowdIntelligence' big data technologies platform, and self-learning Sentifi’s founder and algorithms, the financial chief executive, Anders information market is Bally, wants to turn millions seeing a paradigm shift, of stakeholders on financial experts providing a better understanding social media into “financial market of market attention and satellites”. financial value drivers than ever
“With an Artificial Intelligence before,” he added. “We are building (AI)-based technology platform built the largest crowd-intelligence platform financial sources Process over financial articles a month Monitors companies with Sentifi Offer EoD prices of stock exchanges Trusted by in the world, with the objective to identify, classify and rank the influence of 250 million stakeholders sitting on information which can impact the valuation of listed companies. We monitor and analyse, using big data and AI, what six million stakeholders communicate of relevance to 40,000 listed companies around the world.”
Every stakeholder is ranked by their contribution of financially relevant information in the past 12 months, weighted with their validation in the crowd. "This enables us to generate streams of fake news-free information if the users apply strict filters." Awareness of this tool at the top levels of the investment hierarchy, such as top brokers and fund managers, is still low. However, Sentifi’s dashboard has gathered healthy numbers of impressions, running into millions. The tool could be helpful to traders, investors and other stock market professionals to the extent that it allows the user to have a quantitative analysis of the impact of a particular development or event, though this might not have impacted the stock prices immediately. It also helps users to approach financial news consumption in a more structured way.
Sentifi has partnership with a few other exchanges globally, whose names it is not keen to share. It also has these tools available in India, on some Indian news portals. BSE says it has positive responses from users.
“As a part of our continued endeavour to provide relevant information for decision making for investment purposes, we thought it relevant to provide information to investors on discussions taking place on social media on the BSE website. We have received a positive feedback from users of website on this new feature,” a BSE spokesperson said.