Asian stock markets are trading mixed today ahead of a US inflation report that will help shape the outlook for interest rates in the world's biggest economy.

The Nikkei is trading 0.5% lower, and the Hang Seng index is trading higher at 1.2%. While Shanghai composite was down marginally.

US stocks rose on Tuesday, helped by optimism ahead of key inflation reports and as JPMorgan and other financial shares gained before earnings later this week.

The Dow Jones Industrial Average ended 0.9% higher, and the tech-heavy Nasdaq Composite ended up 0.5%.

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

Source: Equitymaster

Back home, Indian share markets are trading on a flat note following the trend on Gift Nifty.

At present, the BSE Sensex is trading higher by 26 points. Meanwhile, the NSE Nifty is trading down by 3 points.

HDFC Bank and Kotak Mahindra Bank are among the top gainers today.

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

Broader markets are trading on a positive note. The BSE Mid Cap index is up by 0.4% the BSE Small Cap index is trading 0.7% higher.

Sectoral indices are trading on a mixed note. Stocks in the IT sector, and realty sector witness selling.

On the other hand, stocks in the capital goods sector, and energy sector are witnessed most of the buying.

Shares of ABB India and Reliance Industries hit their 52-week high today.

The rupee is trading at Rs 82.29 against the US dollar.

In commodity markets, gold prices are trading higher by Rs 87 at Rs 58,860 per 10 grams today.

Meanwhile, silver prices are trading lower by 0.4% at Rs 71,401 per 1 kg.
 

DGCA puts SpiceJet under enhanced surveillance

Aviation watchdog Directorate General of Civil Aviation (DGCA) has put SpiceJet under enhanced surveillance amid the budget airline facing multiple financial headwinds in recent months, according to the media reports, but the carrier refuted any such development.

It also comes against the backdrop of various lessors seeking repossession of aircraft leased to SpiceJet and some of the cases have been settled by the airline.

The has put SpiceJet under enhanced surveillance for more than three weeks now and it is an ongoing process.

According to the DGCA regulatory official, the enhanced surveillance includes increased night surveillance and spot checks.

Reports further stated the focus is to ensure that due to financial issues, there are no potential adverse impacts on the flight operations and that there are no cutting corners on safety.

The enhanced surveillance is also to check whether safety obligations are being met or not by the airline company, according to the reports.

SpiceJet, which has been facing various headwinds, has settled the issues with certain aircraft lessors. Due to all the headwinds SpieceJet share price was in trouble.

In 2023 so far it is down 23.4%.

Happiest Minds Technologies launches QIP

Happiest Minds Technologies launched a Rs 4 billion (bn) qualified institutional placement (QIP) on late Tuesday evening, according to reports.

The company has allowed for a Rs 1 bn allotment for oversubscription, which could take the total deal size to over Rs 5 bn.

The QIP is being managed by Axis Capital and ICICI Securities, the reports further stated.

The SEBI floor price is Rs 972.2 per share, but the indicative offer price is at Rs 924 per share, which is at a 7% discount to Monday's close of Rs 994.6 apiece.

In October 2022, the IT company secured board approval to raise capital of up to Rs 14 bn.

Happiest Minds benefited from the experience of the management in scaling up the business and noted the company's offerings in services such as the Internet of Things (IOT), digital services, and information security

The uncertain global environment in key markets like USA and Europe, rising human capital costs, and higher attrition continue to strain the performance of the information technology (IT) industry in India.

Happiest Minds reported a revenue of Rs 13.3 bn and a net profit of Rs 220 m for FY23.

More By This Author: