Sensex Opens Flat; Asian Paints Rallies 7% Post Q4 Results

Asian stock markets climbed today after US benchmarks halted a three-day slide, with signs of a strengthening labor market outweighing investors' concerns about rising inflation.

Chinese stocks fluctuated after the country's MSCI Index slipped into bear-market territory.

The Hang Seng is trading up by 0.9% while the Nikkei zoomed 2%. The Shanghai Composite is trading up 1.2%.

In US stock markets, Wall Street indices climbed on Thursday, rebounding from steep losses in the previous session, as investors picked up shares after the pullback.

The Dow Jones Industrial Average rose 434 points, while the S&P 500 jumped 1.2%.

The Nasdaq Composite closed up 0.7% as investors tried to pick some winners in the beaten-up tech sector. Apple and Microsoft each bounced more than 1.5%.

Elon Musk's electric car maker Tesla lost 3%. That stock has posted declines in 11 of the last 13 trading sessions and is on track to post its worst week since March 2020 with a week-to-date loss of 15%.

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

A total of 41 companies, including L&T, Dr Reddy's Lab, Cipla, and Just Dial are scheduled to release their quarterly results today.

WPI inflation for April is set to be declared later in the day.

The BSE Sensex is trading down by 33 points. Meanwhile, the NSE Nifty is trading lower by 14 points.

Bajaj Auto is among the top gainers today. Sun Pharma, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 0.4%. The BSE Small Cap index is trading higher by 0.8%.

Barring IT stocks, all sectoral indices are trading in green with stocks in the FMCG sector and consumer durables sector witnessing most of the buying interest.

Shares of UPL and Polycab India hit their 52-week highs today.

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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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