Asian shares pushed higher on Monday as markets wagered the Federal Reserve was done raising U.S. interest rates, and on hopes the drip feed of policy stimulus from Beijing would be enough to stabilize the Chinese economy.

The Nikkei is trading 0.5% higher while the Hang Seng index is up 2.6%. The Shanghai Composite is trading up by 1.1%.

A choppy day of trading on Wall Street ended Friday with slight gains for stocks, as the market notched its second straight winning week.

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

Source: Equitymaster

Back home, Indian share markets are trading on a positive note following the trend on SGX Nifty.

At present, the BSE Sensex is trading higher by 79 points. Meanwhile, the NSE Nifty is trading up by 39 points.

Tata Steel and Hindalco are among the top gainers today.

Nestle and ICICI Bank on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading 0.5% higher and the BSE Small Cap index is trading higher by 0.7%.

Sectoral indices are trading on a mixed note with stocks in the energy sector and metal sector witnessing buying. While stocks in the banking sector and telecom sector witnessing selling pressure.

Shares of Linde India and L&T Technology hit their 52-week high today.

The rupee is trading at Rs 82.77 against the US dollar.

In commodity markets, gold prices are trading 0.2% higher at Rs 59,529 per 10 grams today.

Meanwhile, silver prices are trading 0.2% higher at Rs 75,269 per 1 kg.
 

Infosys completes Danske Bank's acquisition

IT services company Infosys on Friday said it has completed the acquisition of Danske Bank's IT center in India.

Danske Bank chose Infosys as a strategic partner to drive digital transformation initiatives with speed and scale, and this follows the announcement of the collaboration made on 26 June 2023.

Danske Bank's IT center in the country employs over 1,400 professionals.

With its global expertise and industry solutions, Infosys will accelerate the bank's digital agenda by significantly enhancing its IT operations and capabilities, powered by Infosys Topaz, an AI-first set of services, solutions and platforms, experience design, and services that support operations.

Headquartered in Denmark, Danske Bank provides banking services to personal and business customers, as well as large corporate and institutional customers.

This collaboration will help Danske Bank achieve its strategic priorities towards better customer experiences, operational excellence, and a modernized technology landscape powered by next-gen solutions.

This beaten-down IT stock could potentially stage a comeback. 
 

Tata Motors total global sales falls

Tata Motors on Friday reported a marginal decline in total global sales at 78,010 units in August. The company posted total global sales of 78,843 units in August 2022.

Total domestic sales were also marginally lower at 76,261 units as against 76,479 units in the year-ago month.

Sales of passenger vehicles, including electric vehicles, in the domestic market were down 3.5% at 45,513 units last month as against 47,166 units in August 2022.

Passenger electric vehicle sales, including in international markets, grew by 54.9% at 6,236 units as compared to 4,026 units in the year-ago month.

Tata Motors remains in the fast lane when it comes to electric vehicles (EVs). The Tata group is leading India's EV revolution, and Tata Motors has remained at the forefront.

Also, the electric vehicle (EV) megatrend is a once-in-a-century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

It remains to see how it pans out.
 

Jio Financial Services circuit limit revised

The domestic stock exchange BSE on Saturday revised Jio Financial Services' circuit filter from 5% to 20% effective from Monday.

The stock which has been trading circuit-to-circuit since its addition to key indices on 20 July has hit 5% upper circuits over the last four trading sessions.

The stock was removed from the Sensex and other BSE indices on 1 September 2023.

As per the new index methodology, JFSL was temporarily added to key indices to give passive index funds an opportunity to trade in the shares received on account of a demerger.

The temporary addition was also to stabilize the volatility in Reliance shares as a consequence of the demerger.

JFSL was temporarily included in the indices on July 21 by conducting a special pre-open session in RIL to derive the price of the former.

More By This Author: