BSE Sensex is trading up 804 points at 59,731 level with a gain of 1.4%.
Meanwhile, NSE Nifty is trading up 225 points.
Bajaj Finserv and Coal India are among the top gainers today. HDFC and Dr Reddy’s are among the biggest losers today.
BSE Midcap index rose 1.2%
BSE Small Cap Index is trading up 1.1%.
On the sectoral front, all sectors are trading in the green, with the real estate sector witnessing maximum buying.
US stock futures are trading higher today, indicating a positive start for Wall Street.
Nasdaq Futures is trading up 58 points (up 0.4%) and Dow Futures is up 188 points (up 0.6%).
Rupee is trading at 73.71 against US Dollar.
Gold prices down 0.8%. doing business on ₹46,280 per 10 grams.
Gold prices fell sharply in the Indian markets today in view of the fall in international rates. Gold futures on MCX down 0.6%₹46,377 per 10 grams. Gold had closed flat in the previous session.
In global markets, gold prices declined today after the US Federal Reserve signaled to ease its monthly bond purchases.
Spot gold was down 0.3% at USD 1,762.3 an ounce. The dollar index edged closer to a one-month high, reducing gold’s appeal to those holding other currencies.
Moving on to the stock-specific news…
in the middle Gulzar Stock Today is Infosys.
Infosys announced a strategic collaboration with Amazon Web Services (AWS) to develop quantum computing capabilities and use cases.
Infosys will use the Amazon bracket to explore and create multiple use cases in quantum computing as part of its Cobalt cloud offerings.
Amazon Braket is a fully managed quantum computing service that helps scientists and developers get started with technology and accelerate research and discovery.
This will enable researchers and developers to experiment and study complex computational problems as quantum technologies continue to evolve.
Enterprises will get access to use cases for rapid experimentation and explore how quantum computing could potentially help them in a variety of areas in the future, assessing new ideas and driving innovation. can plan strategies to adopt.
Infosys’ use of Amazon Braket is intended to prepare businesses for a future where quantum computers will impact business.
How it turns out remains to be seen. In the meantime, stay tuned for more updates from this area.
At the time of writing, Infosys shares were trading up 0.9% on the BSE.
Speaking of stocks, here is an example of the four stages that a stock goes through during its life cycle. The cycle repeats itself after the stock has passed through all these stages.
This cycle defines everything in the markets. If you master this cycle, nothing can stop you from making huge profits.
see full image
Moving on to the news from the IPO space…
Oyo to file $1.2 billion IPO next week
SoftBank Group-backed Indian hospitality startup OYO Hotels & Homes is expected to file an initial public offering (IPO) next week, according to a leading financial daily.
The hotel aggregator’s IPO is expected to be pegged at US$1-1.2 bn.
The initial share sale will consist of a fresh issue of shares and a offer for sale from existing shareholders.
The listing plan follows a stellar debut by food delivery firm Zomato in July. Berkshire Hathaway Inc. Backed Paytm and private equity firm TPG backed Nykaa have also applied for their IPO.
Oyo, in which SoftBank holds a 46% stake, has faced months of layoffs, cost-cutting and losses during the global health crisis.
Its founder and CEO Ritesh Agarwal said in July that the business is likely to return and grow from levels seen before the second wave of Covid-19 infections in India.
Last month, it received an investment of US$5m from Microsoft.
We will keep you posted on more updates from this space. stay tuned.
This article is syndicated from equitymaster.com
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