Asian share markets are trading lower today as US stocks halted a four-day winning streak amid a selloff in banks.

The Nikkei is down 1.6% while the Hang Seng is trading lower by 0.7%. The Shanghai Composite is trading higher by 0.5%.

Wall Street indices closed lower on Tuesday after evidence of a cooling economy exacerbated worries that the Federal Reserve's campaign to rein in decades-high inflation may cause a deep downturn.

The Dow Jones Industrial Average ended 0.6% lower while the tech-heavy Nasdaq Composite was down 0.4%.

Here's a table showing how US stocks performed on Tuesday:

Source: Equitymaster

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

At present, the BSE Sensex is trading higher by 348 points. Meanwhile, the NSE Nifty is trading up by 90 points.

Bajaj Finance and HDFC Bank are among the top gainers today.

IndusInd Bank and ICICI Bank on the other hand are among the top losers today.

Broader markets are trading on a mixed note. The BSE Mid Cap index is down 0.2% and the BSE Small Cap index is trading higher by 0.7%.

Sectoral indices are trading on a mixed note. Stocks in the consumer durables sector and financial sector are witnessing buying.

Meanwhile, stocks in the power sector and utilities sector witness selling.

Shares of Dr Abbott India and Bosch hit their 52-week high today.

The rupee is trading at Rs 82.17 against the US dollar.

In commodity markets, gold prices are trading higher by Rs 159 at Rs 60,779 per 10 grams.

Meanwhile, silver prices are trading higher by 0.6% at Rs 75,058 per 1 kg.

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...

Speaking of stock markets, energy stocks weren't in the news recently. But OPEC's surprise production cut has brought oil prices back in the spotlight.

Thus, bringing energy sector stocks back in focus.
 

JSW Steel emerges as a preferred bidder

The Karnataka government declared JSW Steel as the preferred bidder for Jaisinghpura South Iron Ore Block which was held on 24 March 2023.

The auction was for a projected resource of 32.1 million (m) tonnes of various grades.

Reportedly, around 25 companies were bidding for this iron ore, out of which, JSW Steel was selected as the top bidder.

Speaking of the metal sector, all metal stocks have been under pressure as of late because of rising interest rates, low demand, and poor performance.

Britannia Industries announces interim dividend

Britannia Industries' board has approved an interim dividend of Rs 72 a share for the financial year ending March 2023. The record date for determining the eligibility of shareholders for payment of interim dividends is Thursday, 13 April 2023.

This was the first interim dividend for the financial year 2023 and is also the highest dividend paid by the fast-moving consumer goods (FMCG) company since 2020.

The dividend payment by Britannia Industries could be to share the one-time profit it made in the December quarter from the sale of a stake in French dairy subsidiary Bel SA.

The company accrued a one-time gain of Rs 3.8 billion (bn) from the sale of a 49% stake in the joint venture firm.

Aided by the one-time gain, Britannia Industries' net profit in the December quarter surged 151% on the year to Rs 9.3 bn.

Even after excluding the one-time gain, growth in earnings of the 'Bourbon' biscuit maker was strong due to a better top line and improvement in the operational performance.
 

NBCC bags a new order

National Buildings Construction Corporation (NBCC), a central public enterprise has bagged an order to the tune of Rs 4.9 bn from the Department of Border Management.

The department, which falls under the Ministry of Home Affairs has tasked NBCC with the construction of a border and road with a length of 88.6 km.

The border and road will be constructed between BP No. 2350 to BP. No. 2364 in the state of Mizoram along India Bangladesh Border (IBB).

The fresh project came as recently the public sector units signed an MoU to cooperate in the construction of 100,000 housing units in Zambia.

NBCC will work with Scirocco Enterprises of Zambia for the construction of 1 lakh low and medium-cost houses to mitigate an acute shortage of housing in that country.
 

Railtel's order win

RailTel Corporation of India announced that it has received orders from Bihar State Electronics Development Corporation and National Informatics Centre Services Incorporated, aggregating to Rs 1.2 bn.

The order from Bihar State Electronics Development Corporation is for the implementation and management of an electronic knowledge network in academic/administrative buildings of Government Engineering Colleges and Polytechnic Institutes under the Department of Science & Technology, Government of Bihar.

The total value of the order is Rs 849.5 m. However, the total value of the work pertaining to the RailTel part is Rs 761 m.

The project will be executed within 30 weeks.

The order from National Informatics Centre Services Incorporated (a Government of India Enterprise under NIC) is for the installation, testing, and commissioning 4 mbps lease line connectivity for 19 sites, amounting to Rs 389.5 bn.

It will be completed within 12 months from the date of the letter of award (LoA).

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