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Sensex Rallies Over 500 Points, Dow Futures Up by 13 Points
Mon, 30 Aug 12:30 pm

Share markets in India are presently trading on a strong note.

The BSE Sensex is trading up by 509 points, up 0.9%, at 56,634 levels.

Meanwhile, the NSE Nifty is trading up by 158 points.

Tata Steel and Coal India are among the top gainers today. Tech Mahindra and Infosys are among the top losers today.

The BSE Mid Cap index is trading up by 1.6%

The BSE Small Cap index is trading up by 1.7%.

On the sectoral front, barring the software sector, all sectors are trading in green with stocks from the metal sector witnessing most of the buying interest.

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up by 9 points (up 0.1%) while Dow Futures are trading up by 13 points (up 0.04%)

The rupee is trading at 73.49 against the US$.

Gold prices are trading down 0.3% at Rs 47,391 per 10 grams.

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Gold prices edged lower in India amid a stronger rupee though global cues were positive. On MCX, gold futures were down 0.2% to Rs 47,459 per 10 grams. In the previous session, gold had risen about Rs 300 to near one-month high.

Note that the Indian rupee on Friday, 27 August jumped to its ten-week high against the US dollar, making gold imports cheaper in India. Gold prices in India include a 10.75% import duty and 3% GST.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Speaking of the stock market, India's #1 trader, Vijay Bhambwani, talks about how you should trade in the month of September, in his latest video for Fast Profits Daily.

Moving on to stock-specific news...

Among the buzzing stocks today is L&T.

Shares of Larsen & Toubro (L&T) hit a record high of Rs 1,684.8, up 3% on BSE in intra-day trade today, after the company announced that its construction arm, L&T Construction, has bagged a slew of orders in India and abroad for its various businesses.

According to L&T's classification, the valuation of the orders lie between Rs 100 bn to Rs 250 bn.

L&T's buildings & factories business secured an order to construct multilevel parking and an advocates chamber for the High Court at Allahabad while the power transmission & distribution business bagged an order for the turnkey construction of a substation in Saudi Arabia.

The company's smart world & communication business also bagged a smart city project.

Note that L&T's core engineering and construction business remains best placed to benefit from any capex upcycle, supported by its leaner asset-light business model and diversified segments.

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Larsen & Toubro, commonly known as L&T, is an Indian multinational conglomerate, with business interests in engineering, construction, manufacturing, technology and financial services.

We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, L&T shares were trading up by 1.7% on the BSE.

Moving on to news from the software sector...

Nazara Technologies Acquires OpenPlay for Rs 1.9 bn

Gaming and sports media platform Nazara Technologies has acquired Hyderabad-based skill-based gaming company OpenPlay for about Rs 1.9 bn.

The acquisition is expected to help Nazara make further inroads into the real-money gaming sector. The listed entity is also eyeing more acquisitions in the space to fill gaps in its product and distribution lineups.

Nazara's business pivots around four verticals - gamified learning, e-sports, free-to-play mobile gaming and real-money gaming.

While gamified-learning and e-sports contribute around 81% to its revenue, with each bringing in upwards of Rs 2 bn, free-to-play mobile gaming is around 4% and real-money gaming is around 2% of the mix.

The company is looking at growing this category (real-money gaming) to Rs 1 bn over the next 12-18 months. With this acquisition, it expects the revenue mix to change, with real-money gaming contributing around 8-10% by the next 12-18 months.

Founded by serial entrepreneur Sreeram Reddy Vanga, OpenPlay operates a multi-game consumer gaming platform under the 'Classic Games' brand which hosts skill-based games.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

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

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Read the latest Market Commentary

What else is happening in the markets today? Dig in...

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Stock Market Updates

INDIAN ENERGY EXCHANGE Share Price Up by 15%; BSE POWER Index Up 1.3% (Today's Market)

Oct 19, 2021 09:30 AM

INDIAN ENERGY EXCHANGE share price is trading up by 15% and its current market price is Rs 916. The BSE POWER is up by 1.3%. The top gainers in the BSE POWER Index are INDIAN ENERGY EXCHANGE (up 15.0%) and ADANI POWER (up 10.0%). The top losers are KALPATARU POWER (down 0.5%) and POWER GRID (down 0.9%).

L&T at All Time High; BSE CAPITAL GOODS Index Up 1.8% (Today's Market)

Oct 19, 2021 09:30 AM

L&T share price has hit an all time high at Rs 1,853 (up 3.6%). The BSE CAPITAL GOODS Index is up by 1.8%. Among the top gainers in the BSE CAPITAL GOODS Index today are L&T (up 3.6%) and LAKSHMI MACHINE (up 1.1%). The top losers include BHARAT ELECTRONICS (down 0.2%) and KALPATARU POWER (down 0.5%).

HINDUSTAN COPPER Share Price Up by 6%; BSE METAL Index Up 0.3% (Today's Market)

Oct 19, 2021 09:30 AM

HINDUSTAN COPPER share price is trading up by 6% and its current market price is Rs 159. The BSE METAL is up by 0.3%. The top gainers in the BSE METAL Index is HINDUSTAN COPPER (up 6.3%). The top losers are JSW STEEL (down 0.1%) and HINDUSTAN ZINC (down 0.5%).

CYIENT Share Price Up by 5%; BSE IT Index Up 1.2% (Today's Market)

Oct 19, 2021 09:30 AM

CYIENT share price is trading up by 5% and its current market price is Rs 1,255. The BSE IT is up by 1.2%. The top gainers in the BSE IT Index are CYIENT (up 5.2%) and L&T INFOTECH (up 9.4%).

MPHASIS Share Price Up by 5%; BSE IT Index Up 1.3% (Today's Market)

Oct 19, 2021 09:28 AM

MPHASIS share price is trading up by 5% and its current market price is Rs 3,536. The BSE IT is up by 1.3%. The top gainers in the BSE IT Index are MPHASIS (up 5.3%) and L&T INFOTECH (up 9.9%).

SGX Nifty Up 77 Points, UltraTech Cement's Quarterly Performance, Deadline for AGR Dues Moratorium, and Buzzing Stocks Today (Today's Market)

Oct 19, 2021 Pre-Open

Top cues to track in today's stock market session.

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Oct 19, 2021 11:37 AM