On Monday last week, Indian share market continued the momentum as the session progressed and ended higher.
Equity markets extended gains for the second straight day led by sustained buying support in IT and Metal stocks. The sentiment turned positive globally after the US jobs data cemented hopes of a likely pause in rate hikes by the US Federal Reserve later this month.
At the closing bell on Monday, the BSE Sensex stood higher by 241 points (up 0.4%).
Meanwhile, the NSE Nifty closed higher by 94 points (up 0.5%).
Coal India and Wipro were among the top gainers.
M&M and ITC on the other hand, were among the top losers.
Broader markets ended on a positive note. The BSE Midcap index ended 0.9% up and the BSE SmallCap index ended 0.8% higher.
Sectoral indices ended on a mixed note with stocks in the IT sector and the metal sector witnessed most of the buying.
On the other hand, stocks from the consumer durables sector and FMCG sector witnessed selling pressure.
Shares of 3M India and Coforge hit their 52-week high on Monday.
The rupee was trading at 82.72 against the US$.
Gold prices for the latest contract on MCX were trading marginally higher at Rs 59,465 per 10 grams at the time of Indian market closing hours on Monday.
At 7:50 AM today, the Gift Nifty was trading flat at 19,600 levels.
Indian share markets are headed for a muted opening today following the trend on trend on Gift Nifty.
Speaking of stock markets, the electronic manufacturing sector is buzzing with companies like Dixon and Amber taking a high mind share, however, with astronomical valuations, is it worth betting on them?
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Indigo share price will be in focus today.
The board of InterGlobe Aviation Ltd, which operates India's largest airline IndiGo on 4 September 2023 approved the creation of a Venture Capital arm, which will focus on investing in early-stage companies operating in aviation, consumer-focused allied sectors such as travel & lifestyle, hospitality and transportation.
The company in a filing to the exchanges outlined that the Board of Directors has approved the incorporation of a Private Limited Company with an initial investment of Rs 300 m.
RVNL will also be a top buzzing stock.
Shares of Rail Vikas Nigam hit an all-time high of Rs 163.5 today after the company announced that it has bagged orders worth Rs 6 bn from the Madhya Gujarat Vij Company.
The company has received a letter of acceptance for the development of distribution infrastructure work for loss reduction in the Vadodara and Dahod districts under the revamped reforms-based and results-linked distribution sector scheme.
Bharti Airtel will procure 23,000 MWh of renewable energy for its data center subsidiary, Nxtra, by the fourth quarter of the current fiscal year 2023-2024, with an aim to reduce its carbon footprint.
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Airtel will invest in renewable energy projects developed by Continuum Green India and Vibrant Energy Holdings, which will supply power to six of Nxtra's Edge data center facilities.
Airtel plans to acquire renewable energy through an open access route involving stakes in Continuum Green's project company, which will provide environmentally friendly power generated from solar and wind projects to its Edge data centers located in Madhya Pradesh. Additionally, Airtel has also entered into a similar agreement with Vibrant Energy's project company to supply solar power to its Edge data center in Vijaywada. These new additions will bring the total contracted renewable energy capacity for Nxtra data centers to over 274,000 MWh.
For more, check out Equitymaster's stock screener for screening India's top telecom stocks.
Gati, a logistics company within the Allcargo Group, announced a collaboration with Tech Mahindra to create Gati Enterprise Management System (GEMS) 2.0.
GEMS 2.0 will serve as Gati's fundamental operational software system and is designed to provide an improved customer experience through a contemporary, technology-driven interface while enhancing efficiency and reducing expenses.
The strategic deployment of new-age, data-driven technologies is at the core of revolutionising operational efficiency and customer engagement in the logistics and supply chain industry.
Tech Mahindra will enable Gati with GEMS 2.0 over the next 18-24 months.
This software application will utilise Tech Mahindra's knowledge and place emphasis on cloud-native applications. The collaboration's primary objective is to substitute Gati's outdated software with a cloud-based application, aiming for operational excellence and an exceptional customer experience.
Tech Mahindra was formed as a joint venture between Mahindra & Mahindra, India's leading tractor and utility vehicle manufacturer, and British Telecommunications Plc. (BT), a leading global telecom services company.
IT stocks offering decent return on Equity (ROE), sales growth and profit growth appeal to many. Tech Mahindra is one of top Indian IT companies in India...
Zomato was trading almost a percent higher in the morning trade on 4 September after the food aggregator announced that one of its step-down subsidiaries was filing for liquidation.
Lunchtime didn't have active business operations and was not a material subsidiary of the company.
The online food delivery platform, which was listed on the exchanges in 2021, recently announced the launch of Zomato AI, a personalised chatbot that can help consumers choose the food item they wish to order.
To know what is the right course of action in these new-age tech stocks, check out Zomato, Paytm, and Nykaa: Buy, Avoid, Hold, or Sell?
To know what's moving the Indian stock markets today, check out the most recent share market updates here.
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