Sensex Today Hits Record High; Nifty Tops 22,500 Mark

Asian shares rallied in relief on Thursday while the dollar nursed losses after the world's most powerful central banker reassured investors that US rates would fall this year, setting the scene for policymakers in Europe.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6%, while Japan's Nikkei fell 0.8%, after hitting a fresh all-time high earlier in the session.

US stocks rose Wednesday, with the market turning a corner following back-to-back losing sessions on Wall Street.

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

Stock/Index LTP Change ($) Change (%) Day High Day Low 52-Week High 52-Week Low
Alphabet 132.56 -1.22 -0.91% 134.74 131.95 155.2 89.94
Apple 169.12 -1 -0.59% 171.24 168.68 199.62 147.61
Meta 496.09 5.87 1.20% 502.97 494.29 504.42 174.82
Tesla 176.54 -4.2 -2.32% 181.58 173.7 299.29 152.37
Netflix 597.69 -0.81 -0.14% 607.93 593.56 624.42 285.33
Amazon 173.51 -0.61 -0.35% 176.46 173.26 180.14 88.12
Microsoft 402.09 -0.56 -0.14% 405.16 398.39 420.82 245.73
Dow Jones 38661.05 75.86 0.20% 38858.13 38570.8 39282.28 31429.82
Nasdaq 18017.57 119.71 0.67% 18142.88 17941.65 18333.26 11695.41

Data Source: Equitymaster

At present, the BSE Sensex is trading 36 points lower and NSE Nifty is trading 8 points lower.

Tata Steel, JSW Steel, and UPL are among the top gainers today.

M&M, Titan, and Axis Bank on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Midcap index is trading 0.4% higher and the BSE Small Cap index is trading 0.7% higher.

Sectoral indices are trading mixed, with socks in the telecom sector and power sector witnessing buying. Meanwhile, stocks in the consumer durables sector and auto sector are witnessing selling pressure.

The rupee is trading at Rs 82.8 against the US dollar.

In commodity markets, gold prices are trading 0.3% higher at Rs 65,385 per 10 grams today.

Meanwhile, silver prices are trading flat at Rs 74,085 per 1 kg.
 

Vedanta Explores Legal Options

Vedanta may go for a review petition against a Supreme Court decision that rejected the mining giant's plea to restart operations at its copper smelter in Thoothukudi, Tamil Nadu.

The company is exploring possible legal options, including filing a review petition, as per advice from its legal experts.

The Supreme Court had dismissed an appeal by Vedanta Sterlite to reopen its Thoothukudi copper plant closed six years ago on grounds of pollution, endorsing the public's right to health over sheer industry gains.

A three-judge Bench headed by the Chief Justice of India, DY Chandrachud, upheld a Madras High Court decision of August 2020, which confirmed the decisions of the Tamil Nadu government and the State Pollution Control Board to permanently shut down the plant in 2018.

The court said the closure of an industry was never a first choice. But long and repeated breaches coupled with serious violations by Vedanta had left the High Court and the statutory authorities no other option but to bring the curtain down on the Thoothukudi plant.

Anything else would have been sheer obliviousness of their plain duty to the public.

In 2023, the Nifty 50 edged higher from 18,409.7 to 19,675. 5, recording a 7% growth. Vedanta witnessed a de-growth of around 23% in the same period.

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Infosys Extends Partnership with ATP Tour

Infosys announced that it has extended its partnership with the ATP Tour until 2026, solidifying its commitment to using cutting-edge technology to revolutionize professional tennis.

The three-year extension of the partnership will continue to draw on the company's deep expertise in digital technologies like artificial intelligence, data analytics, and cloud, which will enrich the fan experience and player performance in professional tennis.

Since 2015, Infosys and ATP have joined forces to revolutionize the tennis experience through a series of digital innovations.

They have launched the ATP PlayerZone portal, providing a streamlined platform for players, and the first-ever ATP Tour app, bringing the sport closer to fans worldwide.

The Infosys ATP Stats Center, powered by AI-driven features, has further enriched the experience by offering in-depth analysis, including rally breakdowns, 3D visualizations, and stroke summaries.

These advancements have resulted in a remarkable 50% increase in website traffic and over 5.7 million fan interactions, demonstrating the impact of digital innovation in engaging tennis enthusiasts.

Infosys is a global leader in next-generation digital services and consulting.

The IT major's consolidated net profit fell 1.6% to Rs 61.1 bn in Q3 FY24 from Rs 62.2 bn in Q2 FY24. Revenues fell marginally to Rs 388.2 bn in Q3 FY24 compared with Rs 389.9 bn in Q2 FY24.
 

Adani Enterprises' Arm Acquires Le Marche

Adani Enterprises on March 6 informed the bourses that its Dubai-based arm, Ospree International FZCO, has acquired a 100% stake in France-based Le Marche Duty-Free SAS (LMDF) for 5,000 euros.

LMDF was incorporated in France on 7 February 2024 to operate duty-free business in the country. The company is yet to commence operations.

Atul Ahuja, who is a promoter of Flemingo Group, is the owner of LMDF. Adani said it has acquired 5,000 shares of LMDF having a nominal face value of one euro each from Ahuja, who is the sole shareholder.

The acquisition is of a "strategic nature" in the interest of Mumbai Travel Retail Private Ltd (MTRPL), a step-down subsidiary of Adani Enterprise.

Adani Group, notably, is a major airport operator in India. The company handles operations at the key airports of Mumbai, Ahmedabad, Lucknow, Jaipur, Guwahati and Thiruvananthapuram.

It is also developing the upcoming international airport in Navi Mumbai.


More By This Author:

Sensex Today Ends 409 Points Higher, Crosses 74,000 Mark
Sensex Today Trades Marginally Lower; ONGC & Tata Steel Top Losers
Sensex Today Ends 195 Points Lower; IT Stocks Drag

Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity ...

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