Asian markets traded mixed on Wednesday, amid a rebound in technology shares.
US stock market ended lower on Tuesday, dragged down by sharp losses in semiconductor stocks and concerns over the hawkish US Federal Reserve.
Here's a table showing how US stocks performed on Tuesday:
Stock/Index | LTP | Change ($) | Change (%) | Day High | Day Low | 52-Week High | 52-Week Low |
|---|---|---|---|---|---|---|---|
Alphabet | 346.08 | -2.7 | -0.77% | 348.72 | 339.72 | 404.44 | 166.95 |
Apple | 294.3 | -2.71 | -0.91% | 301.64 | 294.18 | 317.4 | 199.26 |
Meta | 562.2 | -1.65 | -0.29% | 572.2 | 561.02 | 796.25 | 520.26 |
Tesla | 381.61 | -23.44 | -5.79% | 392.87 | 379.06 | 498.82 | 288.77 |
Netflix | 72.82 | -0.06 | -0.08% | 73.96 | 72.63 | 134.12 | 71.81 |
Amazon | 234.11 | 1.32 | 0.57% | 236.87 | 232 | 278.56 | 196 |
Microsoft | 373.94 | 6.6 | 1.80% | 377.22 | 370.67 | 555.45 | 356.28 |
Dow Jones | 51666.84 | -45.87 | -0.09% | 51872.56 | 51301.77 | 52281.19 | 42794.08 |
Nasdaq | 29347.27 | -999.81 | -3.29% | 29748.72 | 29276.98 | 30762.2 | 22045.63 |
Source: Equitymaster
At present, the BSE Sensex is trading 269 points higher, and the NSE Nifty is trading 54 points higher.
Tech Mahindra, Infosys, and ICICI Bank are among the top gainers today.
Bharti Airtel, Maruti Suzuki, and HCL Tech, on the other hand, are among the top losers today.
The BSE 150 Midcap index is trading 0.1% higher, and the BSE 250 SmallCap index is trading 0.04% higher.
Sectoral indices are trading mixed today, with stocks in the realty sector and the IT sector witnessing buying. Meanwhile, stocks in the power sector and the metal sector witnessed selling pressure.
The rupee is trading at Rs 94.8 against the US dollar.
Infosys Expands AI Partnership with GlobalFoundries
Infosys has expanded its long-term partnership with GlobalFoundries, one of the world's leading semiconductor manufacturers.
Under the new agreement, Infosys will manage GlobalFoundries' IT operations, including applications, infrastructure, data systems, and service desk support.
The goal is to use AI and automation to make IT systems more efficient, reliable, and cost-effective.
GlobalFoundries expects the partnership to help accelerate its digital transformation, improve operational efficiency, and enhance employee experience.
For Infosys, the deal highlights its growing role in helping semiconductor companies modernize IT operations through AI-driven managed services.
Honasa Consumer Acquires Majority Stake in Fluence
Honasa Consumer, the company behind Mamaearth, has bought a 58% stake in nutraceutical company Fluence Pharma.
With this acquisition, Honasa is entering the fast-growing health supplements and "beauty-from-within" market, which focuses on improving beauty through nutrition and wellness products.
The company will set up a new subsidiary called Honasa Health to build its nutraceuticals business. It plans to combine Fluence Pharma's expertise in developing clinically tested formulations with Honasa's strong branding, marketing, and digital distribution network.
The move helps Honasa expand beyond traditional beauty and personal care products and tap into the growing demand for wellness, preventive healthcare, and nutritional supplements.
Government Launches IRFC Stake Sale OFS
The Government of India plans to sell up to a 2% stake in Indian Railway Finance Corporation (IRFC) through an Offer for Sale (OFS).
The OFS will open on Wednesday with a floor price of Rs 91 per share. Around 26.13 crore shares, representing 2% of IRFC's total equity, will be offered to investors.
The offer also includes a greenshoe option, which allows the government to sell additional shares if investor demand is strong.
The stake sale is part of the government's ongoing disinvestment program aimed at increasing public shareholding in public sector companies and raising funds.
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