Share markets in India are presently trading on a negative note. Sectoral indices are trading mixed with stocks in the metal sector, telecom sector and power sector witnessing maximum selling pressure.

The BSE Sensex is trading down by 165 points (down 0.5%), while the NSE Nifty is trading down by 52 points (down 0.5%). The BSE Mid Cap index is trading up by 0.2% and the BSE Small Cap index is trading up by 0.3%.

The rupee is trading at Rs 70.19 against the US$.

Speaking of Indian share markets, on Friday, the Sensex closed at 35,965, just a little shy of the 36,000 mark.

Incidentally, the Sensex closed at almost the same level - 35,963 to be precise - at the end of January 2018.

But are the broader markets also back to the levels they were in January 2018?

To find out, he looked at the total market capitalization of all the listed companies on the BSE.

The 10-Trillion Rupee Gap Between the Sensex and the Broader Markets

In the news from global financial markets, Japan's Nikkei witnessed selling pressure and hit 9-month low on the back of a sell-off seen in US stock markets as the US Federal Reserve made a dovish stance in its monetary policy yesterday.

The same was also seen for Indian share markets. Taking cues from the above sell-off, Indian indices also opened on a negative note today.

As expected, the US Federal Reserve raised interest rates yesterday. It, however, forecasted fewer rate hikes next year.

It further signaled its tightening cycle is nearing an end in the face of financial market volatility and slowing global growth.

The central bank said the US economy has been growing at a strong rate and the job market has continued to improve.

It noted that "some" further gradual rate hikes would be needed, a subtle change that suggested it was preparing to stop raising borrowing costs.

The rate hike, the fourth of 2018, lifted the target range for the Fed's benchmark overnight lending rate by a quarter of a percentage point to a range of 2.25% to 2.50%.

The decision to raise borrowing costs again is likely to anger US President Donald Trump, who has repeatedly attacked the central bank's tightening this year as damaging to the economy.

The Fed has been raising rates to reduce the boost that monetary policy gives to the economy, which is growing faster than what central bank policymakers view as a sustainable rate.

The Fed also made a widely expected technical adjustment, raising the rate it pays on banks' excess reserves by just 20 basis points to give it better control over the policy rate and keep it within the targeted range.

Moving on to the news from the automobiles sector, M&M share price is witnessing buying interest today as the company unveiled the brand name of its highly-anticipated new car.

The product, which was initially code-named S201, will be called XUV 300. The XUV, which is a compact SUV, is pitched to be from the family of Mahindra's XUV 500. As per the company, the XUV includes several characteristics of XUV500, including design and agility.

M&M share price is trading up by 1.5%.