Asian share markets fell in early trade today as minutes from the US Federal Reserve's most recent policy meeting suggested it would taper its vast bond-buying financial support quicker than expected.

However, markets have recovered from some losses. The Hang Seng is up 0.1% while the Shanghai Composite is down 0.1%. The Nikkei rose 0.8%.

In US stock markets, Wall Street indices finished higher in choppy trading on Wednesday ahead of the US Thanksgiving holiday as US Treasury yields hovered near the year's highs.

The Dow Jones Industrial Average ended flat while the Nasdaq gained 0.4%.

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

Benchmark indices have extended losses and are currently trading marginally lower.

The BSE Sensex is trading down by 146 points. Meanwhile, the NSE Nifty is trading lower by 47 points.

Reliance Industries and Kotak Mahindra Bank are among the top gainers today.

IndusInd Bank, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index are trading up by 0.3% and 0.1%, respectively.

Sectoral indices are trading mixed with stocks in the energy sector and realty sector witnessing buying interest.

Metal stocks and power stocks, on the other hand, are trading in red.

Shares of Trident and SIS hit their 52-week highs today.

The rupee is trading at 74.52 against the US$.

Gold prices are trading up by 0.2% at Rs 47,539 per 10 grams.

Meanwhile, silver prices are trading up by 0.4% at Rs 62,878 per kg.

Gold edged up as the dollar eased slightly, but comments from US Federal Reserve policymakers suggesting the central bank could accelerate stimulus tapering weighed on the metal.

Crude oil prices edged lower with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy US fuel demand.

Speaking of the current stock market scenario, despite the BSE Small cap index surging over 1.8 times, Richa Agarwal, lead Smallcap Analyst at Equitymaster, believes small cap stocks are set for a massive up move in 2021 and beyond.

Here's why...

The Smallcap to Sensex ratio has risen from 0.32 times to 0.48 times. This compares to long term median of 0.43 times. It has moderated from 0.51 in August 2021 post the recent rise in Sensex.

More importantly, it is way lower than the previous peak ratios: 0.76 in September 2005, 0.68 in January 2008, 0.55 in September 2010, and 0.58 in January 2018.

This relative valuation indicator suggests there is still a lot of juice in the rally.