After opening the day lower, the benchmark indices continued their downward momentum, ended the session in the red.

Indian equity market indices Senex and Nifty stayed under selling pressure for a fourth consecutive day, ending Wednesday's session on a negative note.

At the closing bell, the BSE Sensex closed lower by 386 points (down 0.4%).

Meanwhile, the NSE Nifty closed 113 points lower (down 0.4%).

Power Grid Corp, HUL, and NTPC are among the top gainers today.

Tata Motors, Bharat Elec, and UltraTech Cement, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  25,119, lower by 124 points at the time of writing.

The BSE MidCap index ended 0.8% lower, and the BSE SmallCap index ended 0.5% lower.

Sectoral indices are trading negatively today, with stocks in the realty sector and the auto sector witnessing selling pressure.

The rupee is trading at Rs 88.1 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% lower at Rs 113,347 per 10 grams.

Meanwhile, silver prices were trading 0.6% lower at Rs 134,241 per 1 kg.
 

Swan Defence Soars to New Heights

In the news from defence sector, shares of Swan Defence surges 5% after the company signed a memorandum of understanding (MoU) with Royal IHC, the European offshore oil & gas vessel leader. Under the MoU, the partners will combine their expertise, infrastructure, and geographical advantages to design, build, and retrofit offshore oil and gas and other types of vessels.

As a top provider of marine technology, Royal IHC is committed to taking the lead in improving the sustainability and efficiency of the maritime sector. Royal IHC, a prominent supplier of maritime technology and craftsmanship, is firmly rooted in the rich maritime history of the Netherlands.

The partnership will concentrate on constructing multipurpose offshore support vessels, pipe laying vessels, and offshore construction vessels at SDHL's shipyard in Pipavav Port, Gujarat.

The partnership offers integrated, cost-effective solutions for offshore and specialised vessels by fusing the strengths of India's largest shipyard with the world's top offshore oil and gas vessel company.

By combining Royal IHC's design, engineering, and project management expertise with SDHI's advanced infrastructure and skilled workforce, the partnership aims to boost India's shipbuilding capabilities and establish the country as a global player in the industry.

Originally called Reliance Naval and Engineering, Swan Defence and Heavy Industries is an Indian company that builds ships and does heavy fabrication. The shipyard is situated strategically on India's west coast and runs the biggest dry dock in the nation.
 

Dilip Buildcon Shares Surge on Contract Win

Moving on to the news from construction sector, shares of Dilip Buildcon came into focus after it announced joint venture with PSP Projects (DBL-PSP JV) was declared the lowest bidder for a project floated by Kerala Industrial Corridor Development Corporation Ltd.

The Rs 11.2 bn contract covers the design, building, testing, commissioning, operation, and maintenance of infrastructure projects at the Palakkad node's Pudussery Central and Kannambra.

According to an exchange filing, the project is a component of the Chennai-Bengaluru Industrial Corridor's extension to Kochi via Coimbatore.

According to the statement, the project will be carried out on an engineering, procurement, and construction basis, with a 42-month completion timeline.
 

HCL Tech Expands Swedish Auto Digital Deal

Moving on to the news from IT sector, shares of HCL Tech came into focus after the company announced that it had extended its long-standing digital transformation contract with one of the top producers of trucks, buses, construction equipment, industrial and marine engines, and complete transport solutions worldwide, with its headquarters located in Gothenburg, Sweden.

A wider range of services are included in the extended multi-year contract. As per the agreement, HCL Tech will revamp its digital foundation services and improve and update the manufacturer's IT infrastructure in Gothenburg.

HCLTech stated that it will provide platform-based managed services, hyper automation, and full-stack observability by utilising its in-house GenAI-led service transformation platform, AI Force.

One-click provisioning of IT services will be made possible by AI-powered solutions, which will also improve customer and employee satisfaction and operational efficiency.

By promoting ethical and effective IT practices, HCLTech's solutions will accelerate the client's sustainability objectives.

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