Sensex Trades Marginally Lower, Dow Futures Up by 130 Points

Wed, 1 Sep 12:30 pm

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Share markets in India are presently trading on marginally lower.

The BSE Sensex is trading down by 184 points, down 0.3%, at 57,368 levels.

Meanwhile, the NSE Nifty is trading down by 50 points.

Asian Paints and Eicher Motors are among the top gainers today. Tata Steel and Bajaj Finserv are among the top losers today.

The BSE Mid Cap index is trading up by 0.5%

The BSE Small Cap index is trading flat.

On the sectoral front, stocks from the real estate sector are witnessing most of the buying interest.

On the other hand, stocks from the metal sector are witnessing most of the selling pressure.

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up by 61 points (up 0.4%) while Dow Futures are trading up by 130 points (up 0.4%)

The rupee is trading at 72.97 against the US$.

Gold prices are trading flat at Rs 47,123 per 10 grams.

Gold prices edged lower in Indian markets today amid a strengthening of the rupee. On MCX, gold futures dipped to Rs 47,095 per 10 grams, extending losses to the third day.

In global markets, gold prices were flat today ahead of a key US jobs report that analysts say could offer more clues on when the Federal Reserve might start reducing its stimulus measures. Spot gold was flat at US$ 1,813.9 per ounce.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Moving on to stock-specific news...

Among the buzzing stocks today is Wipro.

Software giant Wipro has announced a partnership with HERE Technologies, a location data and technology platform, to offer location-based services and analytics for customers globally.

As per the partnership, Wipro and HERE will jointly develop solutions in the areas of asset tracking, smart-metering, analytics, and private mapping-as-a-service for indoor and outdoor real-time asset tracking.

An Internet of Things (IoT) based smart metering solution, being developed by both companies, will provide better information to customers on energy consumption and asset management.

On the other hand, the HERE mapping-as-a-service solution will enable enterprises to build private maps in the field and manage their autonomous vehicles more efficiently, by providing information to their drivers on routing time, speed, fuel consumption and hazardous conditions.

HERE Tracking will also help Wipro's customers monitor and track assets, field engineers and supply chain on a real-time basis both indoor and outdoor, as well as provide analytics to build operational efficiencies.

We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, Wipro shares were trading down by 0.5% on the BSE.

Speaking of the stock market, Brijesh Bhatia, Research Analyst at Fast Profits Report, talks about how you can create a second income from trading, in his latest video for Fast Profits Daily.

Moving on to news from the power sector...

Sterling And Wilson Solar to Enter Other Business Segments 

Sterling and Wilson Solar has said that it will explore business opportunities in areas such as clean energy storage, waste management and energy efficiency.

The company inserted a new clause in its memorandum of association (MoA) to include new segments such as power plants, solar energy systems, renewable energy systems and hybrid energy systems & energy storage (BESS) & (ESS) in its business.

As per the amended MoA, the company will also enter into the integrated solid waste/biomass management segment.

The company can now enter the business of providing market energy efficient technologies, renewable/non-conventional energy technologies and other innovative technologies.

Sterling and Wilson Solar is a global end-to-end solar engineering, procurement, and construction (EPC) solutions provider.

The company provides EPC services primarily for utility-scale solar power projects with a focus on project design and engineering. It also manages all aspects of project execution from conceptualizing to commissioning and operations and maintenance (O&M) services.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

Speaking of stocks, here's a pattern that if you see, you must sell your position. After all, exits are more important than entries.

In the chart below, we can see the head and shoulder pattern - the stock goes up, makes a high, falls a little bit, goes up to a higher high, does not make a higher low, rallies again, fails to make a new high, and then starts to break down.

This usually happens in a situation where a stock or index has typically been in a bull trend for a while. Spotting this correctly can help you save money.

If you're interested in trading and want to know how you can use this pattern, you can read about it in one of the editions of Profit Hunter here: It's When You Sell that Counts.

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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