Asian share markets kicked off today with more gains after minutes showing Federal Reserve officials planned to slow their pace on interest rate hikes at some point as they try to rein in inflation.

The Nikkei fell by 0.8% while the Hang Seng was down by 0.7%. The Shanghai Composite is trading lower by 0.5%.

US stocks closed lower on Wednesday after minutes from the Federal Reserve's meeting in July suggesting policymakers may be less aggressive than previously thought when they raise interest rates in September.

The Dow Jones was up by 0.5% while the tech-heavy Nasdaq was down by 1.3%.

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

Benchmark indices opened in red today following the trend on SGX Nifty. And as the session progressed, losses were extended.

At present, the BSE Sensex is trading lower by 52 points. Meanwhile, the NSE Nifty is trading down by 18 points.

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

Dr Reddy's Lab and Sun Pharma are among the top losers today.

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

Sectoral indices are trading mixed. The stocks in the FMCG and realty sectors witness most of the buying.

Meanwhile, stocks in the metal and IT sectors witnessed selling.

ZF Commercial and SKF India hit their 52-week highs today.

In the commodity markets, gold prices rise. Gold prices are trading higher by Rs 128. Currently, gold prices are trading at Rs 51,671 per 10 grams.

Note that gold prices have fallen and have taken quite a knock in recent weeks.

Meanwhile, silver prices are trading lower at Rs 56,760 per kg. Silver prices too have fallen a lot in recent days.

The rupee is trading at 79.7 against the US dollar.

Patience bears sweet fruits. This saying holds true for share markets too.

Here's an example to show how these key ingredients work.

Rajratan Wires, a stock we recommended in Hidden Treasure in November 2020, has been in news for being a 10-bagger in less than two years.

In fact, in the last 6 years, this stock has turned out to be a 140 bagger. Take a look at the chart below.

In news from the oil and gas sector, the Gas Authority of India (GAIL) is set to raise funds.

The board of state-owned natural gas explorer and producer GAIL (India), in its meeting held yesterday, approved raising Rs 250 bn by issuing secured or unsecured, redeemable, and non-convertible bonds.

The decision to raise funds comes as the PSU plans to foray into chemicals and clean energy space and diversify from the current natural gas transmission and distribution business.

The money will be raised by way of a rupee term loan up to the limit of Rs 250 bn. The company could raise funds via foreign currency term loans or external commercial borrowing.

It can also raise funds via the issuance of rupee-denominated, listed or unlisted, or secured or unsecured non-convertible bonds.

Among the recent projects, GAIL commissioned the 533-km Bokaro-Angul Pipeline section of Jagdishpur Haldia and Bokaro-Dhamra Natural Gas Pipeline (JHBDPL) in April-June.

With this, 1,642 km of JHBDPL, popularly known as Pradhan Mantri Urja Ganga, has been commissioned.

In line with the government's 'National Hydrogen Energy Mission', GAIL is setting up a green hydrogen production unit with a daily capacity of 4.3 tonnes at Vijaipur, Madhya Pradesh.

The unit will produce green hydrogen using polymer electrolyte membrane technology based on water electrolysis. No wonder GAIL is among the 5 Indian companies leading the green hydrogen revolution.

GAIL is also setting up a 10 MW PEM Electrolyser for producing green hydrogen and has also entered into MoU with Gujarat Alkalies and Chemicals (GACL) to set up a 500 KLPD bioethanol plant in Gujarat.

Moving on to news from the IPO space, Syrma SGS Technology IPO garnered a lukewarm response with the initial public offering (IPO) garnering less than two times the subscription.

Syrma SGS IPO was the first issue to hit the market in nearly three months. Syrma SGS had set the price band for its IPO at Rs 209-220 per share.

Yesterday, Syrma's GMP strengthened as retail investors showed increased participation, and market sentiment also improved.

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