Gift Nifty Trades Marginally Lower | TCS Partners Lantmannen | Why DLF Share Price is Rising | Top Buzzing Stocks Today

Wed, 6 Sep Pre-Open

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On Tuesday, Indian share market continued the momentum as the session progressed and ended higher.

Equity markets extended gains for the third day in row, as pharma, FMCG and select IT stocks logged steady gains in trades on Tuesday. Aggressive buying by domestic funds in the last two trading sessions aided the market sentiment.

At the closing bell on Tuesday, the BSE Sensex stood higher by 152 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 46 points (up 0.2%).

Apollo Hospital & Sun Pharma were among the top gainers.

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Maruti Suzuki and Eicher motors on the other hand, were among the top losers.

Broader markets ended on a positive note. The BSE Midcap index ended 1% up and the BSE SmallCap index ended 0.6% higher.

Sectoral indices ended on a mixed note with stocks in the energy sector and the realty sector witnessed most of the buying.

On the other hand, stocks from the banking sector and financial sector witnessed selling pressure.

Shares of L&T Technology and Coforge hit their 52-week high on Tuesday.

The rupee was trading at 82.05 against the US$.

Gold prices for the latest contract on MCX were trading marginally lower at Rs 59,340 per 10 grams at the time of Indian market closing hours on Tuesday.

At 7:50 AM today, the Gift Nifty was trading 10 points lower at 19,660 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?

Find out why Hidden Treasure, Aditya Vora believes that these 2 less known small cap stocks should be on your watchlist.

Tune in to the below video for more.

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Top buzzing stocks today

TCS share price will be in focus today.

India's largest IT services provider Tata Consultancy Services on Tuesday announced that it has been selected as a strategic partner by Sweden's Lantmannen Ekonomisk Forening (Lantmännen) to transform the company's IT infrastructure.

Under the agreement, TCS will provide digital workplace services and help transform the IT infrastructure of Lantmannen, the company said in an exchange announcement.

Angel One will also be a top buzzing stock.

Angel One on 5 September said that its gross client acquisitions for August surged 64.9% over the last year and 19% over the last month to 7.3 lakhs.

The company's client base consequently increased 46.3% on-year and 4.5% on-month to 16.4 m in August.

Why DLF share price is rising

Shares of DLF scaled a 52-week high of Rs 525.75 on September 5 after the real estate major said to have a pipeline of residential project launches worth nearly Rs 200 bn spread across the country scheduled for this fiscal.

The DLF residential launch pipeline of close to Rs 200 bn is spread across Gurugram, Panchkula, Chennai and Mumbai.

The launched pipeline includes a super-luxury residential project in DLF 5 in Gurugram, a high-rise luxury residential development complex coming up in the heart of Chennai, a mid or high-rise in New Gurugram, Sector 76/77 and a residential low-rise coming up in Chandigarh Tri-city.

A mid-segment independent floors project is expected to be launched in Panchkula in the coming quarters.

The Mumbai project is expected to be launched in Q4. The project in Chennai is likely to be launched in Q4 or Q1 of next fiscal. It is in the design and approval stage right now.

A portion of OneMidtown in Delhi (one tower) is expected to be launched in Q3 or Q4.

When it comes to real estate stocks, you need to be very careful about the management quality. Poor accounting and lack of corporate governance have been the reason for many large realty companies performing poorly in the past.

Also, a big drag on real estate players is high debt. So you need to check the debt-to-equity ratio. To know the top real estate stocks, check out Equitymaster's stock screener for the best real estate stocks in India.

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3i Infotech partners InsureMO

3i Infotech announced its partnership with InsureMO, a world-leading Insurance Middleware Platform. InsureMO collaborates with various sectors, driving monumental changes specifically designed for the insurance industry.

This Partnership will help 3i Infotech to expand its services offering with implementation capabilities for the InsureMO platform which modernizes & transforms the insurance providers' offerings without changing their core solutions.

The InsureMO platform serves as a digital insurance middle office platform for a plethora of entities, including insurers, brokers, agents, channels, insurtechs, and startups.

This positions them to enable use cases for any product and channel, granting insurance carriers the capability to not only modernise their systems but to also strategize better in terms of distribution.

3i Infotech has long been a dominant player in the IT domain, catering to a broad spectrum of clients. This partnership will enhance and accelerate the transformative journey, synergizing the competencies of both companies.

By doing so, the customers will witness reductions in underwriting operational costs, quicker insurance product rollouts, and a streamlined DevOps cycle for the creation of microservices and web applications.

3i Infotech is enjoying multiple tailwinds. To what's next, check out  5 Penny Stocks Set to Grow Dramatically in 2023.

Rupee at 2-week low

The Indian rupee closed weaker on Tuesday as the local unit slipped to the 83 level for the first time in nearly two weeks due to broad weakness in Asian currencies and likely dollar outflows.

The rupee ended at 83.04 against the US dollar, compared with 82.75 in the previous session.

The Chinese yuan and other Asian currencies dropped after a sluggish data release from China renewed concerns about the country's economic growth trajectory.

Meanwhile, the yield on the 10-year U.S. treasury rose slightly to 4.21% in the Asia session, while the two-year treasury yield held steady at 4.90% after rising on Friday. US markets were closed on Tuesday on account of the Labour Day holiday.

If you're looking for investing ideas, we suggest watching this video - How to Profit from a Rising US Dollar.

Also, read our recent pieces on how IT stocks benefit from a falling rupee and the 5 stocks that can gain from a falling rupee.

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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