Indian share markets ended the week on a firm note tracking positive global cues.

Benchmark indices ended on a positive note as buying was witnessed in index heavyweights like Reliance and select financial stocks.

At the closing bell, the BSE Sensex climbed 462 points (up 0.9%).

Meanwhile, the NSE Nifty ended higher by 143 points (up 0.9%).

M&M, IndusInd Bank, and Bajaj Finance were among the top gainers today.

Tech Mahindra, Infosys, and NTPC, on the other hand, were among the top losers today.

The SGX Nifty was trading at 15,702, up by 129 points, at the time of writing.

The broader markets also ended on a firm note. The BSE MidCap index and the BSE SmallCap index ended higher by 1.5% and 1.6% respectively.

Barring IT, all sectoral indices ended in green with stocks in the auto sector, telecom sector, and FMCG sector witnessing most of the buying.

IT stocks have taken a strong beating in the current calendar year. So be prepared for what may come next.

Asian stock markets ended in the green supported by slipping commodity prices.

The Nikkei ended higher by 1.2% while the Shanghai Composite advanced by 0.9%. Meanwhile, Hang Seng jumped 2.1%.

European shares are trading on a firm note, as investor sentiment was lifted by an upbeat close on Wall Street.

Market sentiment is improving even as recession fears remain. UK PMI data yesterday showed that business activity held steady, but news orders slowed dramatically.

US stock futures are trading on a positive note with the Dow Futures trading up by 233 points.

The rupee is trading at 78.29 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% at Rs 50,630 per 10 grams.

Speaking of gold, we have been seeing that gold prices are falling recently. But today the pattern has changed. The gold price is trading on a positive note.

In news from the electric vehicle space, Greaves Electric Mobility has announced the completion of allotment of equity shares to Abdul Latif Jameel, a diversified global investor by way of preferential allotment through a private placement basis for a consideration of US$ 150 m.

The company has allotted 6.8 m equity shares of the face value of Rs 10 each aggregating to 35.8% shareholding on a fully diluted basis.

Following the allotment, the company continues to be a subsidiary of Greaves Cotton and the resultant shareholding on a fully diluted basis is now at 61.4%.

Greaves Electric Mobility manufactures electric two-wheelers under the brand name Ampere Vehicles and electric three-wheeler vehicles under the brands Ele and Teja.

Greaves Electric Mobility has grown from a small base and currently posts annual revenue of more than US$ 100 m.

Over the last few years, the company focused on expanding its product offerings through acquisitions, and now it caters to the electric vehicle ecosystem in India.

Greaves Cotton's share price ended 4.5% higher on the BSE today.

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

Moving on to news from the commodity space, commodity prices showed signs of settling down as copper, a metal that has applications across industries and construction activities, saw its sharpest weekly fall since the pandemic-induced jolt to economic activity in March 2020.

The commercial metal slid 3% in Shanghai and 7% for the week.

Food and oil input prices, which have majorly contributed to the inflation basket have also cooled off in the last week.

According to a leading financial news agency, factory activity across the US, UK, Japan, and the eurozone showed signs of an economic slowdown or a recession with US factories reporting a drop in orders for the first time in two years.

A relaxation in global commodity prices has helped global stock market indices escape the bear's grip.

Note that metal stocks have fallen over 50% from their peaks this year on the back of rising commodity prices.

Tata Steel, one of the multibagger stocks of 2021, is down around 55% from its peak.

It remains to be seen what the rest of the year has in store for metal stocks.