Sensex Today Trades Flat | Nifty Holds 25,000 | Tata Elxsi Down 4%, Hindustan Zinc 3%

Wed, 28 Aug 10:30 am

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Stocks in Asia opened lower following a sluggish day on Wall Street, as traders look to Nvidia Corp.'s results for clues on whether the artificial-intelligence euphoria that's powered the bull market has more room to run.

Equity benchmarks in Japan and Australia edged down Wednesday, while contracts for US shares were also lower.

US stocks saw choppy trading action on Tuesday but the Dow was able to eke out another record close as investors tread carefully on the eve of Nvidia's (NVDA) potentially market-moving earnings report.

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	166.38	-1.55	-0.92%	168.25	166.16	193.3	121.46
Apple	228.03	0.85	0.37%	228.85	224.89	237.23	164.08
Meta	519.1	-2.02	-0.39%	524.01	515.31	544.21	279.4
Tesla	209.21	-4	-1.88%	215.66	206.94	278.97	138.8
Netflix	695.72	7.28	1.06%	707.89	686.92	711.33	344.73
Amazon	173.12	-2.38	-1.36%	174.89	172.25	201.2	118.35
Microsoft	413.84	0.35	0.08%	414.36	410.25	468.35	309.45
Dow Jones	41250.5	9.98	0.02%	41271.75	41109.42	41420.05	32327.2
Nasdaq	19581.52	65.09	0.33%	19617.92	19369.53	20690.97	14058.33

Source: Equitymaster

At present, the BSE Sensex is trading 80 points lower and NSE Nifty is trading 37 points lower.

Tata Motors, Sun Pharma and M&M among the top gainers today.

ONGC, TCS and Tata Steel the other hand are among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets are trading on positive. The BSE Midcap index is trading 0.2% lower and the BSE Smallcap index is trading marginally higher.

Sectoral indices are trading positive today, with stocks in telecom sector and healthcare sector witnessing buying. Meanwhile stocks in IT sector and metal sector witnessing selling pressure.

The rupee is trading at Rs 83.94 against the US dollar.

In commodity markets, gold prices are trading 0.1% lower at Rs 72,039 per 10 grams today.

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 the stock market, technical analysts are buzzing about this real estate stock, but is the fundamental analysis strong enough to justify a 10x return?

Co-head of Research at Equitymaster, Rahul Shah dives deep into the company's financials, growth prospects, and industry trends to find out.

Tune into below video for more

Wipro Partners Dell

Wipro has announced the expansion of its collaboration with Dell to bring the Dell AI Factory to Wipro's Enterprise AI-Ready Platform.

This collaboration is aimed at enhancing cost control and risk mitigation while providing enterprises access to the latest technology, accelerating the adoption of AI across cloud, data centre and edge environments.

Wipro's Enterprise AI-Ready platform will leverage the Dell AI Factory with Nvidia, including Dell Validated Designs for GenAI.

It will also bring GenAI's processing power to data without extensive upfront investment.

Nvidia's AI Enterprise software platform supports Wipro's AI platform using NVIDIA H100 Tensor Core GPUs and the NVIDIA Spectrum-X Ethernet networking platform.

Enterprises are keen to utilise their own data and business context to train, fine-tune and deploy AI on Dell solutions. This approach effectively and efficiently integrates advanced AI into their core business processes, bringing AI to data rather than moving data to AI.

The company said that the Dell AI Factory, with Nividia, brings together AI-optimised technologies, validated and integrated solutions, expert services and best practices to help customers achieve AI outcomes faster.

Wipro claims that its AI Control Center -an advanced orchestration layer that resides on the Wipro Enterprise AI-Ready platform which enables a seamless infusion of AI for IT and business - will now provide enhanced throughput from the Dell infrastructure.

Carysil to acquire Stake in Carysil Brassware

Household appliances manufacturer Carysil Ltd on Tuesday (27 August) said its wholly-owned subsidiary Carysil UK Ltd had announced its decision to acquire the remaining 30% equity stake in Carysil Brassware Ltd, a UK-based company formerly known as The Tap Factory.

The acquisition, valued at £350,000, will make Carysil Brassware a 100% wholly-owned subsidiary of Carysil UK. Carysil UK had initially acquired a 70% stake in Carysil Brassware in April 2023 for £1.16 million, based on an enterprise value of £1.65 million.

Carysil Brassware, located in Yorkshire, UK, specialises in designing and sourcing bathroom and kitchen products, notably the 'Instant Boiling Water Tap.' The company's turnover stood at £1.21 million as of 31 March 2024.

The acquisition is categorised as a related-party transaction since it involves Carysil UK Ltd and the original promoters of Carysil Brassware, Greenwood Stuart and Zoe Amanda Greenwood.

Despite this, the transaction is conducted on an arm's length basis, with the acquisition funded entirely through the internal accruals of Carysil UK, without any remittance from the parent company, Carysil.

This strategic acquisition aligns with Carysil's objective to strengthen its position in the UK kitchen and bathroom segments by gaining access to innovative tap design and marketing capabilities, complementing its existing business.

UPL Announces 20% Stake Acquisition

UPL announced that UPL Global (UGL), a step-down subsidiary of UPL Corporation (a subsidiary of the company) had completed the acquisition of a balance 20% stake in PT Excel Meg Indo, Indonesia (PT Excel).

PT Excel is engaged in the business of buying, importing and distributing agrochemicals, seeds, fumigants and fertilizers in Indonesia. PT Excel is a subsidiary of UGL.

Post completion of the acquisition, UGL will hold 99.9% stake in PT Excel, while another subsidiary viz UPL Europe will hold 0.0002%.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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