Asian shares markets are trading on a mixed note today after the Federal Reserve paused its monetary tightening, and ahead of a torrent of news on the state of China's economy.
The Nikkei is trading higher by 0.6% and the Hang Seng index is trading 0.8% higher. The Shanghai Composite is up marginally.
US stocks ended mixed on Wednesday after the Federal Reserve kept US interest rates unchanged but signalled in new economic projections that borrowing costs will likely rise by another half of a percentage point by the end of this year.
The Dow Jones Industrial Average ended 0.4% higher and the tech heavy Nasdaq Composite ended 0.8% higher.
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 | 124.38 | -0.05 | -0.04% | 124.79 | 122.16 | 129.55 | 83.45 |
Apple | 183.95 | 0.64 | 0.35% | 184.39 | 182.02 | 184.95 | 124.17 |
Meta | 273.35 | 2.03 | 0.75% | 274.99 | 268.32 | 276.57 | 88.09 |
Tesla | 256.79 | -1.92 | -0.74% | 261.57 | 250.5 | 314.67 | 101.81 |
Netflix | 440.86 | 5.13 | 1.18% | 447.33 | 433.5 | 447.33 | 168.53 |
Amazon | 126.42 | -0.24 | -0.19% | 126.95 | 124.12 | 146.57 | 81.43 |
Microsoft | 337.34 | 3.05 | 0.91% | 339.04 | 332.81 | 339.04 | 213.43 |
Dow Jones | 33,979.33 | -232.79 | -0.68% | 34,151.42 | 33,783.55 | 34,712.28 | 28,660.94 |
Nasdaq | 15,005.69 | 104.84 | 0.70% | 15,017.10 | 14,784.62 | 15,017.10 | 10,440.64 |
Back home, Indian share markets are trading on a flat note.
At present, the BSE Sensex is trading 37 points higher. Meanwhile, the NSE Nifty is trading up by 23 points.
Nestle India and Maruti Suzuki are among the top gainers today.
IndusInd Bank and Infosys on the other hand are among the top losers today.
Check out the NSE Nifty heatmap to get the complete list of gainers and losers.
Broader markets are trading on a positive note. The BSE Mid Cap index is trading higher 0.4% and the BSE Small Cap index is up 0.5%.
Sectoral indices are trading on a positive note with the exception of metal sector, IT sector and banking sector. Stocks in the healthcare sector and FMCG sector witness buying.
Shares of MRF and Nestle India hit their 52-week high today.
The rupee is trading at Rs 82.23 against the US dollar.
In commodity markets, gold prices are trading lower by Rs 398 at Rs 58,900 per 10 grams today.
Meanwhile, silver prices are trading lower by 1.8% at Rs 71,331 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 stocks markets, the Indian stock market is within touching distance of a new all-time high.
In this mood of bullishness, smallcaps are on fire. These stocks are hitting new highs every day.
But what do the charts say?
In the below video, chartist Brijesh Bhatia shows what the market technicals is suggesting about these stocks for the rest of 2023.
HCL Technologies on Wednesday expanded its strategic partnership with Google Cloud to leverage generative artificial intelligence (AI) and develop joint solutions.
HCL Technologies will train more than 18,000 people on Google Cloud generative AI technologies and establish a Google Cloud Generative AI Center of Excellence (GenAI CoE).
Generative AI will usher in a new era of innovation across industries. This presents an opportunity for enterprises to double down on digital transformation.
The IT company's AI platforms and solutions will utilise Google Cloud's full suite of enterprise generative AI products and services, including Vertex AI, Generative AI Studio, Model Garden and Generative AI App Builder, along with the underlying LLMs that power these Google Cloud AI innovations.
The GenAI CoE will draw from AI expertise embedded in HCL Tech Cloud Native Labs in London, Dallas and Noida (India).
In addition, HCL Software, a provider of enterprise software solutions, plans to accelerate its own digital transformation by adopting Google Workspace, Duet AI for Google Workspace and Developers and is deploying Vertex AI for its clients.
Did you know HCL Technologies is one of the 3 stocks paying dividends quarterly?
Hero MotoCorp on Wednesday launched its new Xtreme 160R 4V premium motorcycle with prices starting at Rs 1.27 lakh (ex-showroom Delhi).
The new Xtreme 160R 4V is powered by a 163cc BS-VI phase II and E20 compliant engine that generates a maximum power output of 16.9 Ps.
It comes in three variants of Standard, Connected 2.0, and Pro priced at Rs 127,300, Rs 132,800 and Rs 136,500, respectively (all prices ex-showroom Delhi).
The auto company is going to introduce a series of class-defining products in the premium motorcycle space and the launch of Xtreme 160R 4V is the first in a series of launches lined up through the year.
The bike is equipped with tech-enabled features such as remote immobilisation, geo fence, and in-app navigation services, among others through the Hero Connect 2.0.
Speaking of Hero MotoCorp, the company's shares have performed well on the bourses.
As inflation is easing, the burden on consumers is coming down, and with offices opening up, the two-wheeler demand is expected to go up.
This can help Hero MotoCorp increase its revenue in the medium term. Hence, Hero MotoCorp's management is expecting double-digit growth in revenue and a rise in margins in the financial year 2024.
No wonder Hero MotoCorp is one of the stocks to watch out when inflation cools down.
Reportedly, global private equity fund Bain Capital is looking to sell part of its stake worth US $ 267 million (m) (about Rs 21,951.8 m) in Axis Bank through a block deal.
As part of the deal, Bain is looking to sell around 0.75% stake at a discount of around 0-1.4%.
The block purchase will have a 90-day lock in.
Currently, Bain owns around 1.3% stake in the private lender.
Global investment bank Goldman Sachs is advising Bain on the sale.
In November last year, the fund had sold 0.54% stake worth Rs 14.9 bn. The firm has been offloading its holding in Axis Bank over the last nine to 12 months.
As of September 2022, it held around 4.24% stake in the bank, as per the shareholding data on BSE. As on March 2023, it has come down to 1.30%.
Bain had bought the stake as part of a larger consortium that pumped in more than Rs 110 bn in Axis Bank in 2017.
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