Asian shares are trading lower on Friday as investors braced for the risk of a hawkish tilt from Federal Reserve Chair Jerome Powell at Jackson Hole.

The Nikkei is trading 1.8% lower while the Hang Seng index is lower by 1%. The Shanghai Composite is trading 0.5% lower.

US stocks slumped more than 1% on Thursday ahead of Federal Reserve Chair Jerome Powell's speech at Jackson Hole, Wyoming, on Friday.

The Dow Jones Industrial Average ended 1% lower, and the Nasdaq Composite fell 1.9%.

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

Data Source: Equitymaster

Back home, Indian share markets are trading on a negative note. At present, the BSE Sensex and NSE Nifty is trading 0.3% lower.

BPCL and Bajaj Finserv are among the top gainers today.

L&T and Apollo Hospital on the other hand are among the top losers today.

Broader markets are trading on a mixed note. The BSE Mid Cap index is trading 0.2% lower and the BSE Small Cap index is trading 0.2% higher.

Sectoral indices are trading on a mixed note with stocks in the telecom sector and energy sector witnessing buying.

Meanwhile stocks in the banking sector and the metal sector witness selling.

Shares of Bharat Electronics, Mahindra Holidays, and Birlasoft hit their 52-week high today.

The rupee is trading at Rs 82.67 against the US dollar.

In commodity markets, gold prices are trading marginally lower at Rs 58,756 per 10 grams today.

Meanwhile, silver prices are trading 0.2% lower at Rs 73,392 per 1 kg.
 

Infosys' new ambassador

IT giant Infosys has roped in tennis legend Rafael Nadal for a three-year partnership.

Infosys is the digital innovation partner for the ATP Tour, Roland-Garros, Australian Open, and The International Tennis Hall of Fame. Infosys has reimagined the tennis ecosystem using AI, cloud, data analytics, and digital experiences.

Recent innovations of Infosys for tennis include explorations in the digital universe, including mixed reality, social VR, and 3D art museums to expand tennis's history and heritage to fans globally. Most recently, Infosys launched the Carbon Tracker, allowing ATP players to track and offset emissions from their travel on tour. It is a first-of-its-kind sustainable tech in any sport.

To mark this - Nadal's first-ever collaboration with a digital services company - Infosys, and Nadal's coaching team is developing an AI-powered match analysis tool.

This personalized tool will be available in real-time to Nadal's coaching team to simultaneously track insights from his live matches when he is back on tour, along with historical data from his earlier matches.

Earlier in November 2022, Edtech major BYJU roped in football star Lionel Messi as the first global brand ambassador of its social impact arm Education for All.

Infosys shares have underperformed the market recently. 

Coforge launches generative AI platform

IT company Coforge has launched a Gen AI platform designed to build enterprise AI capabilities.

Coforge Quasar comes pre-loaded with a set of 100 plus APIs, readily available for integration.

The platform operates on a fully governed framework, incorporating process governance, Application Programming Interface (API) governance, and model governance within its foundation.

Enterprises can choose a cloud-based set-up or an on-premise set-up with enhanced security and controls.

AI, with its cognitive and generative capabilities, possesses the remarkable ability to revolutionize every facet of an organization, including customer service, operations, research, sales and marketing, finance, and human resources.

The promoters of Coforge have once again sold their stake in the IT company in May 2023.

Moreover, the promoter offloading happened at a time when the company was trading at peak valuations of around 50x PE, an exorbitant premium to its 5-year and 10-year median PE of 23.1x and 12.5x respectively.

This usually indicates that the promoters might think the stock is overvalued and the business prospects don't justify the current valuations, propelling them to profit from a stake sale.

No wonder Coforge share price is falling.

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