Asian share markets are trading two-months low today, as the impasse in negotiations to raise the US debt ceiling undermined risky assets on worries about the hit to the global economy if the US government defaults.
The Hang Seng index is down by 2% while the Shanghai Composite is trading down by 0.7%. The Nikkei is trading higher by 0.5%.
US stocks ended lower on Wednesday as talks between the White House and Republican representatives on raising the debt ceiling dragged on, while investors awaited minutes from the Federal Reserve's last meeting.
The Dow Jones Industrial Average ended lower by 0.8% , and the tech heavy Nasdaq Composite ended 0.7% lower.
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 | 121.64 | -1.65 | -1.34% | 122.75 | 120.75 | 127.05 | 83.45 |
Apple | 171.84 | 0.28 | 0.16% | 172.42 | 170.52 | 176.39 | 124.17 |
Meta | 249.21 | 2.47 | 1.00% | 249.59 | 244.95 | 253.57 | 88.09 |
Tesla | 182.90 | -2.87 | -1.54% | 184.22 | 178.22 | 314.67 | 101.81 |
Netflix | 364.85 | 8.86 | 2.49% | 367.15 | 356.63 | 379.43 | 164.28 |
Amazon | 116.75 | 1.76 | 1.53% | 117.34 | 115.02 | 146.57 | 81.43 |
Microsoft | 313.85 | -1.41 | -0.45% | 316.50 | 312.61 | 322.72 | 213.43 |
Dow Jones | 32,799.90 | -255.60 | -0.77% | 33,031.75 | 32,752.44 | 34,712.28 | 28,660.94 |
Nasdaq | 12,484.20 | -76.10 | -0.61% | 12,529.63 | 12,415.85 | 13,181.09 | 10,088.83 |
Back home, Indian share markets are trading flat following the trend on SGX Nifty.
At present, the BSE Sensex and NSE Nifty are trading marginally lower.
Bajaj Auto and Airtel are among the top gainers today.
Hindalco and Adani Enterprises 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 flat and the BSE Small Cap index is trading higher by 0.2%.
Sectoral indices are trading on a mixed note with stocks in the realty sector and telecom sector witnessing most buying. While stocks in the metal sector and energy sector are witnessing selling pressure.
Shares of Britannia and Bajaj Auto hit their 52-week high today.
The rupee is trading at Rs 81.76 against the US dollar.
In commodity markets, gold prices are trading lower by 0.2% at Rs 59,732 per 10 grams today.
Meanwhile, silver prices are trading 0.5% lower at Rs 70,751 per 1 kg.
Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...
Speaking of stock markets, the stock price of Siemens was on a roll until about last week. However, the rally seems to have come to halt. The stock has been under pressure recently.
But what do the charts say? Is it a good time to consider the stock or is it best to avoid it? Chartist Brijesh Bhatia answers all these questions in the below video.
Multinational information technology company Infosys, on Wednesday announced its collaboration with Adobe to incorporate digital learning content from the latter on its online learning platform Infosys Springboard.
Under this collaboration, it would be incorporating Adobe-influenced content on its learning platform. The partnership will help open up opportunities for aspiring professionals and veterans to explore the Adobe Experience Cloud.
With the partnership, the company hopes to reskill and bridge the skill gap between aspiring professionals and create a pool of upskilled professionals.
The agreement grants free access to advanced digital learning content on the Infosys Springboard under its Tech for good charter. Both companies aim to create over 10,000 new Adobe-certified experts by 2025.
Infosys Springboard is a free online learning platform that offers over a thousand courses that users can choose from. Since its launch in India, Infosys Springboard has reached more than 5 million registered users.
Infosys is an Indian IT services company offering a range of digital and traditional IT services.
The recent crash in IT stocks like Infosys and TCS has created an opportunity for investors. To know how to benefit from it, read our editorial - Profiting from Arbitrage between TCS and Infosys in the IT stocks crash.
Also, to know whether Infosys is still a good bet for the long term, check out 3 things I wish I knew about Infosys earlier.
Speciality chemical producer in India, Fine Organic Industries on Wednesday reported a 21.3% YoY decline in revenue to Rs 6.1 billion (bn) compared to Rs 7.7 bn reported in the same quarter last year.
This was due to industry-wide inflation, sustainability concerns, supply chain disruptions, and demographic challenges.
Net profit for the March 2023 quarter came in at Rs 1.5 bn, driven by healthy operating performance. Fine Organic reported a net profit of Rs 1.1 bn last year.
For the financial year 2023, the board of the company has declared a final dividend of Rs 9 per equity share.
Fine Organic Industries is a leading speciality chemical producer based in India. The company specialises in the manufacturing and distribution of additives, surfactants, and polymers used in a wide range of industries, including food, plastics, cosmetics, textiles, and agriculture.
Shares of Fine Organic Industries have been falling since the beginning of 2023. The stock has tumbled 22% so far. To know why, check out why Fine Organic shares price is falling.
Life Insurance Corporation of India recorded a net profit of Rs 134.3 bn for March 2023, growing 466% over the corresponding period in the last fiscal. Last year the company recorded a net profit of Rs 23.7 bn.
Net premium income fell by 8.3% YoY to Rs 1.31. LIC earned a net commission of Rs 84.3 bn for the March 2023 quarter, growing 5.4% YoY.
The 13th-month persistency ratio, which indicates policyholder loyalty, increased to 70.1%. This means higher policyholders are sticking with LIC beyond one year.
LIC's solvency ratio in March 2023 quarter was at 1.87, which came in higher compared to 1.85 last year.
The board of the company has recommended a final dividend of Rs 3 per share for the financial year 2023.
Since listing, shares of LIC have been following one trend - going down. To know why, check out Why LIC share price is falling.
To know what's moving the Indian stock markets today, check out the most recent share market updates here.
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