Indian Share Markets Open Flat; Cipla & ONGC Top Gainers

Asian stock markets are trading on a mixed note today with shares in Japan and Hong Kong fluctuating, where surging commodity costs drove factory-gate inflation to its highest level since 2008.

The Hang Seng is up 0.1% while the Nikkei is trading down by 0.3%. The Shanghai Composite is trading up by 0.4%.

In US stock markets, Wall Street indices struggled to eke out closing gains as a lack of clear market catalysts kept institutional investors on the sidelines.

The Dow Jones Industrial Average fell 0.1% while the Nasdaq ended higher by 0.3%.

Back home, Indian share markets have opened on a flat note, following the trend on SGX Nifty.

A total of 37 companies, including GAIL, Bata India, Bajaj Healthcare, and Star Cement are scheduled to release their quarterly earnings today.

The BSE Sensex is trading up by 25 points. Meanwhile, the NSE Nifty is trading higher by 3 points.

ONGC is among the top gainers today. UltraTech Cement, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index have opened higher by 0.3% and 0.4%, respectively.

Sectoral indices are trading mixed with stocks in the IT sector and power sector witnessing buying interest.

Banking stocks, on the other hand, are trading in the red.

Shares of CRISIL and Cipla hit their 52-week highs today.

The rupee is trading at 72.91 against the US$.

Gold prices are trading up by 0.1% at Rs 49,176 per 10 grams.

Meanwhile, silver prices are trading up by 0.2% at Rs 71,390 per kg.

Speaking of the current stock market scenario, note that the BSE Smallcap index has rebounded more than 150% since the March 2020 lows.

Despite the index being up 1.5 times, Richa Agarwal, lead Smallcap Analyst at Equitymaster, believes smallcap stocks are set for a massive up move in 2021 and beyond.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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