Asian share markets opened higher today, tracking overnight US gains ahead of a meeting of global central bankers that may offer clues about the future pace of interest rate hikes.

The Nikkei rose by 0.5% while the Hang Seng was down by 0.8%. The Shanghai Composite is trading higher by 0.3%.

Wall Street indices ended higher on Wednesday, breaking the three-day losing streak, lifted by gains in energy stocks while investors awaited the US Federal Reserve's Jackson Hole conference this week.

The Dow Jones was up by 0.2% while the tech-heavy Nasdaq was up by 0.4%.

Back home, Indian share markets are trading on a positive note.

Benchmark indices opened in the green today following the trend on SGX Nifty. And as the session progressed, gains were extended.

At present, the BSE Sensex is trading higher by 281 points. Meanwhile, the NSE Nifty is trading up by 75 points.

Bajaj Finserv and HUL are among the top gainers today.

HCL Technologies and Power Grid are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is up by 0.9% while the BSE Small Cap index is trading higher by 0.8%.

Sectoral indices are trading on a positive note, with stocks in the realty sector and the power sector witnessing most of the buying.

Laxmi Machine and SKF India hit their 52-week high today.

In the commodity markets, gold prices rise. Gold prices are trading higher by Rs 181. Currently, gold prices are trading at Rs 51,320 per 10 grams.

Note that gold prices have fallen and have taken quite a knock in recent weeks.

Meanwhile, silver prices are trading higher at Rs 55,375 per kg. Silver prices have fallen a lot in recent days.

The rupee is trading at 79.8 against the US dollar.

In news from the engineering sector, L&T is slowly moving towards green energy.

The annual report of 2021-22 mentioned L&T's plans and the board's approval to enter into the green hydrogen segment. However, the business is yet to commence.

It has already set up a green hydrogen plant has been set up at Hazira in Gujarat. L&T has also entered into a contract with IOC to manufacture and sell electrolyzers used in the production of green hydrogen.

On top of this L&T intends to be a debt-free company in the financial year 2022-23. It plans to pay off the debt by selling off loss-making and heavy asset businesses.

All of these plans seem to have boosted investors' confidence in the company, because, after June 2022, the share price has been on a rise.

Look at the chart below.

Further in news from the auto sector, TVS Motor to acquire a stake in DriveX.

On Wednesday, TVS Motor said it will acquire a 48% stake in Narain Karthikeyan's pre-owned two-wheeler start-up 'DriveX' for a consideration of Rs 850 m.

Founded by Formula 1 driver Karthikeyan, DriveX is into leasing two-wheeler motorcycles and scooters and selling, trading, and distributing pre-owned two-wheeler motorcycles and scooters.

Last fiscal year, DriveX reported a turnover of around Rs 90 m.

The acquisition is expected to be completed by 30 November 2022.

In news from the power sector, Tata Power is to raise funds.

Tata Power is securing US$320 m in sustainability-related loans from international lenders led by Bank of America.

Sustainability-linked loans typically allow borrowers to obtain funds up to 25 basis points, or 0.25%, less expensively than conventional loans.

According to the reports, Tata Power will benefit from a drop in financing rates of up to eight basis points if it does not invest in or increase capacity in sectors like thermal power generation over the next few years.

In order to receive additional financial incentives, it must also boost the generation of renewable energy by 1.5 to 2 gigawatts annually.

Tata Power is accumulating debt through two foreign entities. One is a club loan in which Bank of America and Sumitomo Mitsui Banking Corporation are both lenders (SMBC). Additionally, the former is providing a term loan facility.

According to the company's business responsibility and sustainability report, the company (including its subsidiaries) has 34% of its capacity (measured in MW) in clean and green generation sources (hydro, wind, solar, and waste heat recovery).

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