Sensex Today Trades Marginally Lower | Nifty Below 25,450 | IT Stocks Fall Over 1%

Wed, 18 Sep 10:30 am

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Asian markets traded mixed ahead of the US Fed interest rate decision. Japan's Nikkei 225 gained 1.22% while the Topix rose 0.9%. South Korea and Hong Kong markets are closed today.

US stock market ended mixed on Tuesday, with the blue-chip Dow Jones hitting a record intraday high for a second-straight day.

The Dow Jones Industrial Average fell 15.90 points, or 0.04%, to 41,606.18, while the S&P 500 rose 1.49 points, or 0.03%.

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	160.28	1.29	0.81%	161.59	159.41	193.30	121.46
Apple	216.79	0.47	0.22%	216.90	214.50	237.23	164.08
Meta	536.32	3.03	0.57%	542.10	530.57	544.21	279.40
Tesla	227.87	1.09	0.48%	234.57	226.55	273.93	138.80
Netflix	706.91	10.41	1.49%	707.63	698.37	711.33	344.73
Amazon	186.88	1.99	1.08%	189.45	186.14	201.20	118.35
Microsoft	435.15	3.81	0.88%	441.85	432.27	468.35	309.45
Dow Jones	41606.18	-15.90	-0.04%	41835.28	41470.69	41835.28	32327.20
Nasdaq	19432.40	9.33	0.05%	19596.34	19337.12	20690.97	14058.33

Source: Equitymaster

At present, the BSE Sensex is trading 35 points lower and NSE Nifty is trading 12 points lower.

Coal India, Hero MotoCorp and Bajaj Finance among the top gainers today.

TCS, Infosys and Wipro 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 and the BSE Smallcap index is trading flat.

Sectoral indices are trading mixed today with stocks in banking sector and financial sector witnessing buying. Meanwhile the stocks in IT sector and telecom sector witnessing selling pressure.

The rupee is trading at Rs 83.78 against the US dollar.

In commodity markets, gold prices are trading 0.2% higher at Rs 73,250 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, Warren Buffett, the legendary investor, once famously advised individuals to invest in low-cost index funds.

But is this advice still relevant today, especially for Indian investors?

With the surge in passive funds, it's time to re-evaluate whether active or passive investing is the better strategy.

Rahul Shah, Co-head of research at Equitymatser talks about the pros and cons of both approaches and decide which one aligns best with your investment goals.

Tune in for more.

REC Inks Renewable Energy Pact

Indian infrastructure lender REC said on Tuesday signed pacts worth about Rs 1.12 trillion (tn) (US$ 13.37 bn) with renewable energy developers.

The pacts come as Indian companies look to finance their goal of expanding their renewable energy capacities, with the government aiming to add at least 500 gigawatts of clean energy by 2030 to reduce emissions.

REC said the non-binding memorandum of understandings, signed at an industry conference in the western state of Gujarat, covers projects across sectors including solar, wind, hydroelectric, battery energy and green ammonia.

REC is targeting to take its renewables loan book to over Rs 3 tn by 2030, expanding the share of renewables to 30 per cent from 8 per cent currently.

REC, a central public sector undertaking under the Ministry of Power, is an infrastructure financing company. It is also a subsidiary of PFC.

It is engaged in the business of extending loans to the power sector value chain from generation to distribution.

The company also forayed into infrastructure and logistics sector and is funding metro, road and highways, port waterways and steel infra projects.

Infosys' New Collaboration

Indian IT major Infosys said on Tuesday that it has entered into a long-term collaboration with British community bank Metro Bank to digitise the bank's operations.

The collaboration will utilise Infosys Topaz, the firm's AI-first offerings, to enhance Metro Bank's digital capabilities, improve automation, refine data, and embed further AI capabilities.

At the end of this transformation, the bank will be a very different business, but the true essence of Metro Bank will remain the same -- a high-quality service organisation putting customers centre-stage.

Indian IT major Infosys said on Tuesday that it has entered into a long-term collaboration with British community bank Metro Bank to digitise the bank's operations. The collaboration will utilise Infosys Topaz, the firm's AI-first offerings, to enhance Metro Bank's digital capabilities, improve automation, refine data, and embed further AI capabilities.

Infosys Ltd is the 2nd largest information technology company in India.

The company provides consulting, technology, outsourcing and next-generation digital services to enable clients to execute strategies for their digital transformation.

The company's digital services are rated to be among the best in the industry. Infosys derives 57% of its revenues from digital services and balance 43% from traditional services.

NPCIL-NTPC JV to Build Nuclear Power Plant

The government has approved a joint venture between NPCIL and NTPC to build four 700 MWe nuclear power plants at Mahi Banswara in Rajasthan.

With this approval, ASHVINI has been authorized to build, own and operate nuclear power plants in India in accordance with the existing legal framework.

It said ASHVINI will be a subsidiary of NPCIL, which will have 51 per cent stake in the entity.

The Mahi Banswara project of 4x700 MW Pressurised Heavy Water Reactors (PHWR) will be implemented by ASHVINI.

The joint venture will pave the way for pooling resources in terms of finances and expertise for the rapid expansion of nuclear power capacity in the country to meet the targets of Net Zero by 2070.

India has set ambitious targets to achieve 22,800 MW of nuclear power capacity by 2031-32, a substantial increase from the current 8,180 MW.

NTPC along with its subsidiaries/associates & JVs is primarily involved in the generation and sale of bulk power to state power utilities. Other businesses of the group include providing consultancy, project management & supervision, energy trading, oil & gas exploration, and coal mining.

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

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