Asian share markets are lower today despite gains on Wall Street, as investors eye key economic and inflation data.

The Nikkei plunged 0.5% while the Hang Seng fell 0.7%. The Shanghai Composite is up 0.2%.

In US stock markets, Wall Street indices closed higher on Tuesday as earnings from Home Depot and retail sales data signaled solid consumer health and eased worries about a Federal Reserve that may have to become more aggressive in the face of rising inflation.

The Dow Jones added 0.2% while the Nasdaq rallied 0.8%.

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

The BSE Sensex is trading down by 143 points. Meanwhile, the NSE Nifty is trading lower by 32 points.

NTPC and Asian Paints are among the top gainers today. Reliance Industries, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index are trading up by 0.1% and 0.4%, respectively.

Sectoral indices are trading mixed with stocks in the power sector and automobile sector witnessing buying interest.

Oil & gas stocks and energy stocks, on the other hand, are trading in the red.

Shares of CRISIL and TCNS Clothing hit their 52-week highs today.

The rupee is trading at 74.48 against the US$.

Gold prices are trading up by 0.1% at Rs 49,105 per 10 grams.

Meanwhile, silver prices are trading up by 0.3% at Rs 66,430 per kg.

Gold inched higher today but hovered around a recent low after a jump in US retail sales kept the dollar close to a 16-month high.

Crude oil prices dropped today after US gasoline stocks fell more than expected last week, which could heighten pressure on the Biden administration to release oil from emergency reserves to cap soaring gasoline prices.

In news from the IPO space, Go Fashion has raised Rs 4.6 bn from 33 anchor investors, ahead of its initial public offering (IPO).

The IPO will open for subscription today and close on 22 November.

Government of Singapore, Monetary Authority of Singapore, Nomura, Abu Dhabi Investment Authority, Fidelity, Neuberger Berman Emerging Markets Equity Master Fund, and the University of Notre Dame are among marquee investors invested in Go Fashion through anchor book.

Meanwhile, domestic investors included SBI Mutual Fund, HDFC Trustee, ICICI Prudential, Axis Mutual Fund, Aditya Birla Sun Life, SBI Life Insurance, and Kotak Mutual Fund.

Go Fashion is planning to mop up Rs 10.1 bn through its public issue that comprises a fresh issue of Rs 1.3 bn and an offer for sale (OFS) of 12.8 m equity shares by selling shareholders.

The price band for the offer has been fixed at Rs 655-690 per equity share.

How this IPO sails through remains to be seen.

Moving on to news from the PSU space, the government wants state-owned oil and gas explorer ONGC to carve out non-producing high-potential areas of the prolific Mumbai High and Bassein fields for privatization, not privatize entire fields.

ONGC produces more than 60% of India's oil and gas output and has resisted several attempts at privatizing its fields over the past few years.

In the latest move, the oil ministry wrote to ONGC last month, asking it to give away 60% participating interest and operatorship in Mumbai High and Bassein fields to international players.

These two fields together account for half of domestic gas and more than 23% of oil production.

In the ministry's letter, lower recovery rates in the two aging fields, slower project implementation by ONGC, and government rules that constrain a public-sector enterprise's functioning were cited as the key grounds for privatization.

Reports state that this letter has rattled ONGC executives. As per them, these suggestions were 'unfair' to the company and that the government should instead encourage foreign companies to bid for exploration acreages.

Now, the government is softening its stand. Oil Secretary Tarun Kapoor said the proposal of a 60% stake sale would not apply to producing areas of the two fields.

Kapoor also said that the government will no longer insist on ONGC hiving off its drilling and well services arm.

The government is expecting ONGC to help build a robust domestic oilfield services industry by taking on more projects quickly and providing local service providers more business opportunities.

Shares of ONGC are currently trading higher by 0.4%.

Speaking of PSUs, have a look at the chart below which shows the performance of the BSE PSU index compared to BSE Sensex over the past few years.

As can be seen from the chart above, over the last decade, Rs 100 invested in the BSE PSU index would have eroded to Rs 80, compared to almost 3x gains for the Sensex.