Sensex Opens Marginally Higher; Infosys Dips 4% Post Q4 Results

Asian share markets are trading on a negative note today following mixed cues from Wall Street.

The Nikkei is trading lower by 0.1% while the Hang Seng is trading down by 1%. The Shanghai Composite is down 1.2%.

In US stock markets, Wall Street indices ended mixed amid concerns about excessive equity valuations, with the tech sector being the biggest underperformer after Coinbase was sold off on its listing day, dragging the Nasdaq lower.

Coinbase's listing coincided with a record price for Bitcoin, which rose to just under US$ 65,000 but the euphoria proved to be short-lived as the stock fell nearly 20% from its opening level to trade at US$ 328.

The Dow Jones Industrial Average gained 0.2% while the Nasdaq Composite sank 1%.

Back home, Indian share markets have opened on a positive note.

Market participants are tracking Wipro's share price as the company is scheduled to announce its quarterly results today.

The BSE Sensex is trading up by 121 points. Meanwhile, the NSE Nifty is trading higher by 45 points.

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

Both, the BSE Mid Cap index and the BSE Small Cap index have opened up by 0.3%.

Sectoral indices are trading on a mixed note with stocks in the metal sector and telecom sector witnessing buying interest.

IT stocks and realty stocks, on the other hand, are trading in the red.

Shares of Dabur and JSW Steel hit their 52-week highs today.

The rupee is trading at 75.26 against the US$.

Gold prices are trading up by 0.4% at Rs 46,781 per 10 grams. Meanwhile, silver prices are trading up by 0.3% at Rs 67,816 per kg.

In news from the IT sector, Infosys is among the top buzzing stocks today.

Infosys, India's second-largest information technology company, reported a 17.1% year-on-year (YoY) rise in net profit at Rs 50.8 billion for the quarter ended in March on Wednesday. It had posted Rs 43.2 billion net profit in the same quarter last year.

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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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