Indian Share Markets Open Higher; IndusInd Bank & SBI Top Gainers

Asian stock markets are trading on a cautious note today ahead of what are expected to be upbeat readings on the Chinese economy.

The Hang Seng is trading up by 0.4% while the Nikkei is trading down by 1.3%. The Shanghai Composite is trading up by 1%.

In US stock markets, Wall Street indices closed higher on Friday as investors took a weaker-than-expected reading of April retail sales in stride, shaking off a tumultuous week that has been marked by growing inflation fears.

But the sharp gains weren't large enough to reverse weekly losses for the major stock benchmarks, after reports on inflation, labor shortages, and higher commodity prices raised concerns that the Federal Reserve would have to pull back on its easy-money policies sooner than expected.

The Dow Jones Industrial Average rose 361 points or 1.1%, while the Nasdaq Composite closed up 2.3%.

For the week, both indexes registered losses. The Dow lost 1.1% while the tech-heavy Nasdaq was the hardest hit, losing 2.3% for the week and logging its fourth consecutive week of declines, the longest such stretch since August 2019.

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

Bharti Airtel, Federal Bank, Colgate-Palmolive, and Orient Cement are among the 24 companies slated to post their quarterly results today.

The BSE Sensex is trading up by 211 points. Meanwhile, the NSE Nifty is trading higher by 58 points.

IndusInd Bank is among the top gainers today. L&T, 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 0.5% and 0.8%, respectively.

Sectoral indices are trading in green with stocks in the banking sector and realty sector witnessing most of the buying interest.

The rupee is trading at 73.27 against the US$.

Gold prices are trading up by 0.7% at Rs 47,990 per 10 grams.

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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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