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Asian share markets are higher today as China's largest banks reportedly prepare to cut interest rates and investors speculate that the Fed is nearing the end of its tightening campaign.

In US markets, Wall Street indices ended sharply higher on Tuesday, lifted by Tesla, Nvidia, and other megacap growth stocks after a drop in monthly job openings cemented expectations of a pause in interest rate hikes by the US Federal Reserve.

The Dow jumped 0.9% while the tech-heavy Nasdaq zoomed 1.7%.

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

Positive sentiment from the overnight trading session in US markets and optimism in other Asian indices lifted the domestic benchmark indices in early trade.

At present, the BSE Sensex is trading 317 points higher and NSE Nifty is up by 80 points.

Jio Financial Services and M&M are among the top gainers today.

Power Grid and Asian Paints on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading 0.6% higher and the BSE Small Cap index is trading 0.7% higher.

Barring oil & gas stocks, all sectoral indices are trading on a positive note with stocks in the realty sector, telecom sector, and metal sector witnessing most of the buying.

Shares of Safari Industries and Trent hit their 52-week high today.

Market participants are also tracking shares of Escorts, Sun TV, Indiabulls Housing, and Hindustan Copper as these companies are in the F&O ban list today.

Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at Rs 82.73 against the US dollar.

In commodity markets, gold prices are trading marginally higher at Rs 59,309 per 10 grams today.

Crude oil prices extended gains today after data showed a large draw in crude inventories in the US and as concerns about a hurricane in the Gulf of Mexico kept investors on edge.
 

How Hero MotoCorp is preparing for its next leg of growth

Hero MotoCorp, India's largest two-wheeler maker, is looking to create a portfolio of premium motorcycles and scooters with the launch of multiple products in the next two years.

The company's CEO Niranjan Gupta said that a growing footprint in the premium two-wheeler segment is a priority for the company.

He added that a larger chunk of the Rs 10 bn the company has earmarked for spending annually will be used for designing premium and electric vehicles (EVs) to strengthen the company's presence in these two categories.

Hero MotoCorp's Splendor and Passion dominate the country's entry-level motorcycle segment.

The company has a market share of about 5% in the premium two-wheeler segment.

Motorcycles less than 125 cc accounted for more than 90% of Hero MotoCorp's sales in FY23. In the last few years, the company has inked partnerships with Harley Davidson and California-based Zero Motorcycles to increase its footprint in the premium category.

Hero MotoCorp share price is trading down by 0.3%.
 

Zomato Block Deal

Zomato shares are in focus today.

SoftBank Vision Fund (SVF Global) is likely to offload a 1.17% stake in the food delivery giant for Rs 9.4 bn via a block deal today.

A total of 100 million shares will be sold by SVF Growth Fund, at a price of Rs 94 apiece.

SoftBank owns about 3.35% stake in Zomato, which it was issued during the Blinkit deal for selling its holding to the company.

Note that recently, Tiger Global Management also sold its entire shareholding of 1.44% in Zomato for Rs 11.2 bn. The shares were offloaded by Internet Fund III Pte Ltd, the venture capital fund managed by the US-based investment manager, via open market transactions.

Zomato shares are currently trading higher by 4% on the BSE.
 

The Latest on Chandrayaan-3

In the latest developments from India's space mission on the moon, a Laser-Induced Breakdown Spectroscope (LIBS) instrument onboard the Rover unambiguously confirmed the presence of Sulphur (S) in the lunar surface near the south pole.

The instrument also detected aluminum, calcium, iron, chromium, titanium, manganese, silicon, and oxygen, as expected, ISRO said.

While the search for Hydrogen is underway.

Yesterday, ISRO shared another update on Chandrayaan 3's Pragyan Rover which is on its expedition to the Lunar south pole.

The rover is now on its way to uncover Moon secrets.

Note that India took a giant leap earlier this month as the Chandrayaan-3 lander module successfully landed on the moon's South pole, making it the first country to have achieved the historic feat.

The country became the fourth after the US, China, and Russia to have successfully landed on the moon's surface.

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