PRE MARKET
Gift Nifty indicates a strong start for the broader index in India, with a gain of 270 points or 1.07 percent. The Nifty futures were trading around the 25,445 level.
The S&P 500 barely managed a record closing high on Tuesday, its fifth straight day of gains, with investor optimism ahead of megacap earnings reports being countered by a mixed reception to the latest earnings reports and a massive selloff in health insurer stocks.
The Dow Jones Industrial Average fell 408.99 points, or 0.83%, to 49,003.41, the S&P 500 gained 28.37 points, or 0.41%, to 6,978.60, and the Nasdaq Composite gained 215.74 points, or 0.91%, to 23,817.10.
Asian markets were trading mostly higher on Wednesday, tracking gains on Wall Street after the S&P 500 closed at a record high.
Japan’s Nikkei went down -0.57 percent, while Hong Kong’s Hang Seng and the Taiwanese weighted index went up +1.22 and +0.79 percent, respectively.
STOCKS TODAY
Infosys
The company has announced a strategic collaboration with Cursor, a leading AI-powered development platform, to help enterprises worldwide accelerate their AI value journey. As part of this collaboration, the companies will set up a Centre of Excellence (CoE) to accelerate enterprise adoption of software engineering agents in the development of AI-native products.
Oil and Natural Gas Corporation
The company, through its joint ventures with Mitsui OSK Lines (MOL), Japan, has entered into shipbuilding contracts (SBCs) with Samsung Heavy Industries, South Korea, for the construction of two very large ethane carriers (VLECs).
Titagarh Rail Systems
The company has signed an agreement with ABB to deliver propulsion systems for 25kV Metro projects. The framework includes the transfer of technology for TCMS for 25kV driverless metro systems and the transfer of manufacturing of converters and traction motors under the Government of India’s Make in India policy.
Rail Vikas Nigam
Rail Vikas Nigam has emerged as the lowest bidder for an order worth Rs 242.5 crore from South Central Railway. The order involves design, supply, erection, testing, and commissioning for OHE upgradation of the existing 1x25kV system to a 2x25kV feeding system, along with feeder and earthing works in the Ongole–Gudur section of Vijayawada.
Life Insurance Corporation of India
The insurance company has subscribed to 5.12 lakh debentures of Bajaj Finance, having a face value of Rs 1 lakh each, amounting to Rs 5,120 crore. These funds will be utilised for general business purposes.
Source – Moneycontrol
