Asian share markets are higher today, with US corporate earnings aiding sentiment, while traders awaited British inflation readings later in the day for clues on how hawkish central banks need to be to fight inflation.

The Nikkei rose by 0.5% while the Hang Seng was down 1.2%. The Shanghai Composite is trading lower by 0.5%.

US stocks closed higher for a second straight day on Tuesday as solid quarterly results from Goldman Sachs and Lockheed Martin lessened worries of a weak earnings season.

The Dow Jones rallied 1.1% and the tech-heavy Nasdaq Composite ended higher by 0.9%.

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

Benchmark indices opened on a positive note today following the trend on SGX Nifty. And as the session progressed gains were extended.

At present, the BSE Sensex is trading higher by 351 points. Meanwhile, the NSE Nifty is trading up by 105 points.

HDFC and HDFC Bank are among the top gainers today.

Sun Pharma and SBI are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is up by 0.5% and the BSE Small Cap index is trading higher by 0.6%.

Sectoral indices are trading on a positive note with the exception of the IT and healthcare sectors. Stocks in the banking sector, oil and gas sector and auto sector witness buying.

From the IT space, HCL Tech and TCS are trading 1% lower. Meanwhile, Tata Elxsi's share price is also falling post quarterly results.

Shares of Tube Investments of India and Polycab India hit their 52-week high today.

In the commodity markets, gold prices trade higher by Rs 60 at Rs 50,413 per 10 grams.

Meanwhile, silver prices are trading lower at Rs 56,280 per 1 kg.

The rupee is trading at 82.4 against the US dollar. Last week, the rupee touched its record low. 

Speaking of stock markets, in 2021, we witnessed a flurry of IPOs. 63 companies came out with their IPOs last year.

Too many tech companies that provide platform as a service (PAAS) also came out like Nykaa, Zomato, Paytm. All three companies have been beaten down on the bourses recently.

Speaking of Nykaa, its share price fell around 10% in the past week. The stock continues to fall, hitting new lows every passing day.

Volatile share markets have taken away the charm of Nykaa. 
 

Tech Mahindra to Expand Operations

In news from the IT sector, one of the best IT stocks in India, Tech Mahindra is set to expand its operations in Gujarat.

IT major Tech Mahindra announced on Tuesday that it has signed a memorandum of understanding (MoU) with the Gujarat government to expand its operations by hiring over 3,000 employees in the state over the next five years.

The MoU was signed to promote the IT and ITeS sector in the state under the Gujarat IT/ITeS Policy (2022-27). The collaboration will drive technology-led transformation across industries including digital engineering, the company said.

In the seven months since the policy was launched, the Gujarat government has signed MoUs with 15 leading domestic and global IT firms in a move that is expected to generate 26,750 high-skilled IT jobs.

As a part of the collaboration, Tech Mahindra will focus on providing digital engineering services that will enable businesses to navigate digital transformation challenges by making them more connected, smarter, and agile, thereby helping them build digital products and create new revenue streams.
 

Tata Motors Bags EV Order

Further in news from the electric vehicles (EVs), Tata Motors bags another order.

Tata Motors on Tuesday said it has received an order for 200 electric buses which will be deployed in Jammu and Srinagar.

The automaker will supply 150 units of 9-metre and 50 units of 12-metre Starbus electric buses.

As part of the contract, Tata Motors will operate and maintain the buses for a period of 12 years.

Since 2019, Tata Motors' 40 electric buses have been running in Jammu and Kashmir along with a cumulative supply of 715 electric buses across multiple cities in India.
 

Adani Defence to Make New Acquisition

Further in news from the defence sector, Adani Defence Systems & Technologies is to make a new acquisition.

Adani group's wholly owned subsidiary, Adani Defence Systems & Technologies on Tuesday signed a definitive agreement to acquire Air Works, India's biggest and highly diversified independent MRO with the largest Pan-India network presence across 27 cities.

The Adani Group-backed company will acquire Air Works at an enterprise value of Rs 4 bn.

Air Works is the oldest MRO in India and has developed extensive operational capabilities within the country for key defence and aerospace platforms.

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