Asian share markets are higher today, following a Wall Street bounce sparked by a rally in tech stocks.

The Nikkei gained 0.6% while the Shanghai Composite is down 0.5%. Hang Seng is trading lower by 0.4%.

Wall Street indices surged on Friday to end higher in US stock markets.

The Dow Jones rallied 1.5% while the Nasdaq surged 3.8%.

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

Benchmark indices started on a flat note today tracking weakness in US stock futures but soon firmed up.

Market participants are tracking shares of Bharat Forge, GRM Overseas, and Raymond as these companies will announce their March quarter results later today.

The BSE Sensex is trading up by 521 points. Meanwhile, the NSE Nifty is trading higher by 168 points.

Tata Steel and Titan are among the top gainers today. UltraTech Cement, on the other hand, is among the top losers today.

Both, the BSE Mid Cap index and the BSE Small Cap are trading higher by 1%.

Barring IT, all sectoral indices are trading in green with stocks in the metal sector, telecom sector, and banking sector witnessing most of the buying.

Shares of Kohinoor Foods and Kanani Industries hit their 52-week highs today.

Shares of Ambuja Cement and ACC rose after the Adani group announced entering an agreement with Holcim to buy its stake in the two companies.

The rupee is trading at 77.60 against the US$.

Gold prices are trading up by 0.2% at Rs 49,966 per 10 grams.

Meanwhile, silver prices are trading up by 0.6% at Rs 59,680 per kg.

Crude oil prices are down today, giving up earlier gains as investors took profits after a surge in the previous session, but global supply fears loomed with the European Union preparing to phase in a ban on imports from Russia.

In news from the electric vehicles (EV) space, companies involved in the space are betting on locally manufactured battery cells as they might be a safer bet in Indian conditions.

This comes after several incidents of EVs getting caught on fire in recent months.

Existing lead-acid cell makers, auto original equipment manufacturers (OEMs), and energy companies looking to diversify their portfolios are in the fray.

Niti Aayog CEO Amitabh Kant said that they recently ran advanced cell chemistry (ACC) program and it was subscribed 2.6 times. Under this, selected companies will receive incentives for investing in ACC battery storage.

An ACC production-linked incentive (PLI) scheme announced in March 2022 will help the indigenous EV cell ecosystem evolve faster.

Speaking of EVs, have a look at the chart below which shows the massive opportunity in the two-wheeler EVs.

In news from the media sector, AMG Media Networks, a unit of billionaire Gautam Adani's conglomerate Adani Enterprises, will pick a 49% stake in Raghav Bahl-curated digital business news platform Quintillion Business Media for an undisclosed sum.

The company said this in a regulatory filing.

This year, the Adani group company announced its foray into the media business by acquiring an unspecified minority stake in Quintillion Business Media.

Quintillion Business is a business and financial news company and operates a leading business news digital platform BloombergQuint.

The same notice was also confirmed by Quint Digital Media through a separate regulatory filing to the exchanges.

Note that the Adani group has been eyeing entry into the media space for the past few months. In September last year, it hired veteran journalist Sanjay Pugalia to lead its media company, Adani Media Ventures.

Of late, the group has been foraying into a various segments with its latest entry being into media and cement.

Moving on to news from the e-commerce space, CarTrade Tech is among the top buzzing stocks today.

CarTrade Tech's share price has been on a downtrend ever since listing on the bourses at around Rs 1,500 per share.

At present, shares of the company trade at Rs 600.

Note that the crash in several new-age tech stocks has eroded investors' wealth to an extreme level. Six such new-age tech companies have lost close to Rs 1.8 tn in market cap.

Correction in US tech stocks, high valuations, and dampened results could be the main reasons these stocks are falling.

For instance, CarTrade Tech reported a poor set of numbers for fiscal 2022, posting an EBITDA (earnings before interest tax, depreciation, and amortization) loss as it normalized expenses on employees and marketing.

The cost of ESOPs rose sharply but even excluding these expenses, EBITDA margins for fiscal 2022 and March 2022 quarters came in at 4.5% and 5.5% respectively, significantly lower than in the previous year.

The market regulator in February proposed that in addition to the financial parameters, new-age tech companies should disclose details of the KPIs (key performance indicators). The choice of KPIs should also be explained.

We will keep you updated on the latest developments in this space. Stay tuned.