Sensex Today Trades Higher; Nifty Midcap Hits Record High

Asian stocks shrugged off a positive US session and opened lower as a double-whammy of US inflation data and the Federal Reserve decision landing later in the day kept traders on edge.

Equities slipped in Japan and Australia, while those in South Korea climbed.

The US stock market recorded a mixed close on Tuesday, albeit with the Nasdaq and S&P 500 rallying to fresh records, driven by Apple shares.

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 178.19 1.56 0.88% 178.39 175.44 179.95 115.83
Apple 207.15 14.03 7.26% 207.16 193.63 207.16 164.08
Meta 507.47 4.87 0.97% 507.6 498.27 531.49 265.33
Tesla 170.66 -3.13 -1.80% 174.75 167.41 299.29 138.8
Netflix 648.55 4.05 0.63% 650.19 640.52 664.25 344.73
Amazon 187.23 0.17 0.09% 187.77 184.54 191.7 118.35
Microsoft 432.68 4.81 1.12% 432.82 425.25 433.6 309.45
Dow Jones 38747.42 -120.62 -0.31% 38795.71 38446.24 40077.4 32327.2
Nasdaq 19210.19 135.51 0.71% 19212.63 18966.56 19212.63 14058.33

Source: Equitymaster

At present, the BSE Sensex is trading 243 points higher and NSE Nifty is trading 88 points higher.

ONGC, BPCL, and Coal India are among the top gainers today.

Asian Paints, HUL, and Titan, on the other hand, are among the top losers today.

Broader markets are trading on a positive note. The BSE Midcap index is trading 0.7% higher and the BSE Smallcap index is trading 0.8% higher.

Sectoral indices are trading mixed, with stocks in the metal sector, power sector, and oil & gas sector witnessing buying. Meanwhile, stocks in the consumer durables sector and FMCG stocks witnessing selling pressure.

The rupee is trading at Rs 83.56 against the US dollar.

In commodity markets, gold prices are trading flat at Rs 71,500 per 10 grams today.

TCS Launches IoT Lab

Tata Consultancy Services (TCS) has recently announced the launch of the Bringing Life to ThingsTM Lab in Cincinnati, Ohio.

The lab is designed to support the rapid prototyping, experimentation, and large-scale implementation of AI, GenAI, and IoT engineering solutions, enabling TCS to assist clients in bringing innovative solutions to life faster and more efficiently.

Spanning across 3,000 square feet, this lab will advance the deployment of TCS' comprehensive suite of IoT solutions, including TCS Clever EnergyTM, TCS Digital Manufacturing PlatformTM (DMP), and TCS DigifleetTM, among others.

These solutions cater to various industries, including health care and life sciences, manufacturing, energy and resources, consumer packaged goods, and more.

The lab will also help businesses collaborate and co-innovate, integrating physical assets, partner technologies, and customer challenges to create new offerings and solutions.

The lab also offers TCS' innovative solutions, including the TCS Neural Manufacturing solution, which provides autonomous and intelligent capabilities for factories, and the TCS connected healthcare platform, providing solutions for personalized medicine.

On the demand side, structural shifts such as energy transition, supply chain relocation, and AI are requiring significant new production capacity in the United States that is connected, intelligent, and autonomous by design.

Tata Consultancy Services  - 1 Year Performance

HCL Tech Renews Deal

IT services company HCL Technologies (HCLTech) on Tuesday said it has expanded its partnership with Germany's largest cooperative primary bank Deutsche Apotheker- und rztebank eG (apoBank).

The estimated contract value of the deal is US$ 278 million over 7.5 years.

HCLTech will accompany apoBank with an outcome-oriented managed services model that delivers resilient, scalable, high quality, and compliant digital foundation services, enabling apoBank to deliver fast and secured banking services to its customers.

HCLTech is a strategic partner of Avaloq, a provider of banking technology and services, and has strong expertise with Avaloq's core banking system. In 2022, HCLTech acquired Swiss company Confinale, a digital banking and wealth management consulting specialist and Avaloq implementation partner.

Wipro Launches AI Platform

Information technology company Wipro on June 11 announced the launch of the Lab45 Artificial Intelligence (AI) platform, which leverages Generative AI (Gen AI), machine learning (ML), and deep learning technologies to enable companies to enhance efficiencies, transform business functions and enable industry-specific solutions.

The platform allows seamless integration of language and visual processing for generating images from text prompts, as well as the ability to index, parse, and summarise content.

The platform launched by Wipro assumes significance as just last week, its larger rival Tata Consultancy Services launched a platform to help aggregate multiple Gen AI services into a single interface and enable organisations to rapidly adopt next-gen technologies at scale.

With over 1,000 Gen AI agents and more than 10 Gen AI applications, the Lab45 Artificial Intelligence platform offers no code and low code pre-built applications in areas such as human resource (HR), sales, marketing, and operations functions.

It also allows easy creation of industry-specific Gen AI agents and applications.

The AI platform runs on a SaaS (Software-as-a-Service) model and supports various state-of-the-art Large Language Models (LLMs) from leading providers as well as custom deep-learning and other models.

With Application Programming Interface (API)-based access for custom applications, the platform makes it easier for clients to deploy Gen AI to their environments. Select Wipro teams and external users have been using the platform over the past six months and have seen significant productivity gains and time savings.

For example, in quality engineering and testing, recent proof of concepts (PoCs) for Wipro customers in banking, pharmaceutical, telecommunication and other industries globally have shown anywhere from 20-30% improvements across test cases, test scripts, and test result analytics.

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

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