Shares of IT major Tata Consultancy Services (TCS) tumbled 3.3% to its day’s low of Rs 4,351.25 on the BSE amid tensions in the market over whether the US Fed will cut the interest rates by 25 basis points (bps) or 50 bps later on Wednesday. Meanwhile other IT stocks also witnessed a dip in their share prices with Infosys falling by 3% to day’s low of Rs 1,891.
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Shares of Intel Corp. soared as much as 8 per cent on Tuesday after a chip-making deal with Amazon’s cloud business was announced. At 1:08 pm EDT, Intel shares were at $21.62, up $0.70 or 3.37 per cent. On Monday, Intel shares had gained 6.4 per cent. The deal provides some respite to Intel’s investors as the chipmaker’s shares had fallen nearly 60 per cent this year.
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Japan's Nikkei share average rebounded 0.5% to 36,380.17, driven by a softer yen and a recovery in chip-related stocks, ahead of the Federal Reserve's policy decision. Japan's Nikkei share average rebounded 0.5% to 36,380.17, driven by a softer yen and a recovery in chip-related stocks, ahead of the Federal Reserve's policy decision.
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