Asian share markets tracked Wall Street gains and edged higher today. Although markets remained volatile as investors grappled with the reality that surging US inflation will lead to higher interest rates.

The Nikkei rose by 3.5% while the Hang Seng was up 3.4%. The Shanghai Composite is trading higher by 1.6%.

US stocks surged more than 2% on Thursday, as technical support and investors covering short bets drove a dramatic rebound from a selloff earlier in the day.

Wall Street indices staged the biggest comeback in years on Thursday, as stocks roared back.

The Dow Jones soared 2.8% and the tech-heavy Nasdaq Composite ended higher by 2.2%.

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. As the session progressed gains were extended.

At present, the BSE Sensex is trading higher by 992. Meanwhile, the NSE Nifty is trading up by 280 points.

Infosys and HCL Technologies are among the top gainers today. Among the best IT stocks in India, Infosys, Tech Mahindra, and HCL Tech rose close to 5% today.

Sun Pharma, on the other hand, is among the top losers today.

HCL Tech declared its results earlier this week and rose 2.5% today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading higher by 0.9% and the BSE Small Cap index is trading up by 1.1%.

If you are looking for small caps, start your search with the fundamentally strong smallcap stocks that offer a cushion in this volatile period.

Sectoral indices are trading on a positive note. Stocks in the IT sector, banking sector, and capital goods sector witness huge buying.

Among the best bank stocks in India, ICICI Bank and Axis Bank are up more than 1%.

Shares of Ratnamani Metals and TVS Motors hit their 52-week high today.

In the commodity markets, gold prices trade lower at Rs 50,883 per 10 grams.

Meanwhile, silver prices are trading higher at Rs 57,251 per 1 kg.

The rupee is trading at 82.3 against the US dollar. Recently, the rupee touched a record low. 

In news from the IT sector, Infosys posted its Q2 results.

Infosys reported a 23.4% YoY jump in consolidated revenue to Rs 365.4 bn for the quarter under review. The company's net profit rose 11% to Rs 60.2 bn.

In constant currency terms, revenues grew 18.8% YoY compared with 21.4% growth in the June 2022 quarter.

Revenue and profit both were above street expectations.

Infosys also declared a buyback through the open market route.

The maximum buyback size is of Rs 93 bn, excluding buyback tax, at a price not exceeding Rs 1,850 per share.

Apart from this Infosys also announced an interim dividend of Rs 16.5 per share.

In 2022 so far, shares of Infosys have fallen 25%.

Infosys' share price is falling this year owing to the same reasons why other IT stocks are falling. The reasons are not very hard to guess...

Further, in news from the oil and gas sector, Bharat Heavy Electricals (BHEL) enters into a new agreement.

State-owned BHEL on Wednesday said it has entered into two separate agreements with Coal India and NLC India Ltd to set up coal gasification-based plants.

Under the Memorandum of Understanding (MoU) with Coal India (CIL), BHEL said it will jointly set up a coal-to-ammonium nitrate project based on the gasification of high ash domestic coal.

As per the agreement with NLC India (NLCIL), a lignite-based gasification pilot plant will be set up for power generation, utilizing BHEL's indigenously-developed Pressurised Fluidised Bed Gasification (PFBG) technology.

BHEL's coal gasification technology will not only help in the gainful utilization of India's large coal reserves in a sustainable manner and indigenous production of high-end chemicals, but can also boost power generation through integrated gasification combined cycle (IGCC) technology, in line with the Prime Minister Naremdra Modi's vision of Aatmanirbhar Bharat.

Further, in news from the chemical sector, Chemcon Speciality Chemicals purchases land.

The specialty chemical company purchased a non-agricultural land admeasuring 5868 square meters along with construction thereon situated at Mouje, Vadodara for Rs 60 m.

It purchased agricultural land admeasuring 2125 square meters at Mouje Vadodara for Rs 74.9 m. It bought another agricultural land admeasuring 4075.00 square meters situated at Mouje Vadodara for Rs 78 m.

These are related party transactions. The sellers are promoters/promoter groups/key managerial personnel of the group.

Chemcon Speciality Chemicals is a manufacturer of specialized chemicals, such as HMDS and CMIC which are predominantly used in the pharmaceuticals industry.

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