Sensex Today Trades Lower; ITC & Bharat Elec Top Losers

The Asian stock markets remained in the bear territory for Thursday as well, as climbing brent rates fogged economic outlook and stoked inflation concerns among investors.

US benchmark indices ended lower in mid-week trading on Wednesday, October 7, as a rise in bond yields and concerns over higher inflation weighed on investor sentiment. However, a decline in yields later in the session helped the indices recover from their intraday lows.

Here's a table showing how US stocks performed on Thursday:

Source: Equitymaster

At present, the BSE Sensex is trading 324 points lower, and NSE Nifty is trading 120 points lower.

TCS, Tech Mahindra, Infosys are the top gainers today.

ITC, NTPC, Bharat Elec on the other hand is among the top losers today.

The BSE 150 Midcap index is trading 0.6% lower and the BSE 250 SmallCap index is trading 0.7% lower.

Baring IT sector and PSU bank sector all other sectoral indices are trading negative today with stocks in power sector and realty sector witnesses selling pressure.

The rupee is trading at Rs 96.7 against the US dollar.

Tata Power Explores Next-Gen Floating Solar

Tata Power has partnered with Norway-based renewable energy company Ocean Sun to test a new floating solar technology in India. The partnership was announced during the India- European Free Trade Association (EFTA) Prosperity Summit.

As part of the project, Tata Power and Ocean Sun will set up a 300 kWp floating solar pilot project at Tata Power's Mulshi reservoir in Maharashtra. The project will test how well Ocean Sun's technology works in Indian conditions, including its performance, reliability, installation time, maintenance needs and cost.

Unlike traditional floating solar systems that use large interconnected pontoons, Ocean Sun's technology places solar panels on a thin, flexible membrane that floats directly on the water. This design could make transportation and installation easier and reduce structural costs. The panels may also benefit from the cooling effect of the water, potentially improving electricity generation.

India has a huge potential for floating solar. According to NISE estimates, the country has more than 102 GWp of floating solar potential. Floating solar can help India generate clean electricity while using less land. It may also help reduce water evaporation from reservoirs.

The Mulshi pilot will help Tata Power understand whether Ocean Sun's technology can be scaled up and commercially used across India. The partnership also strengthens cooperation between India, Norway and other EFTA countries in renewable energy and clean technology.

HCLTech Expands AI Presence in South Africa

HCLTech has expanded its presence in South Africa by opening a new regional headquarters in Johannesburg's Sandton business district.

The new facility will strengthen HCLTech's technology services and innovation for businesses in South Africa and the wider region. It will also house an AI Center of Excellence, where companies can explore HCLTech's AI solutions and industry-specific applications to support their AI transformation.

The facility will also serve as a training hub to develop next-generation technology talent and strengthen South Africa's digital workforce.

HCLTech has been operating in South Africa for more than 15 years. Over the past five years, the company has supported nearly 500 students and learners through its skills development programmes, with nearly 50 joining the company in full-time roles.

The company has partnered with the University of Johannesburg, University of Pretoria and North-West University to develop digital skills and improve employment opportunities for young people.

HCLTech has also invested in ICT and digital literacy programmes that have benefited more than 20,000 people across South Africa over the past five years, particularly in underserved communities.

The new Johannesburg headquarters highlights HCLTech's long-term commitment to South Africa's technology sector, AI adoption and digital talent development.