Sensex Zooms 500 Points; Titan & Tata Steel Top Gainers

Asian share markets are trading higher today as investors shook off earlier worries about a hedge fund default that roiled global banking stocks overnight, while rekindled concerns about inflation pushed bond yields higher.

The Nikkei is trading up by 0.1% while the Hang Seng is up 1.1%. The Shanghai Composite is trading higher by 0.6%.

In the US stock market, Wall Street indices settled flat overnight. The S&P 500 ended nearly flat, with banking shares falling amid warnings of potential losses from a hedge fund's default on margin calls, while optimism over the economy limited the day's declines.

The Dow Jones Industrial Average rose 98 points, or 0.3% while the Nasdaq Composite dropped 79 points or 0.6%.

Back home, Indian share markets have opened on a strong note, following the trend on SGX Nifty.

Nazara Technologies' share price will make its market debut today. The gaming company, where Rakesh Jhunjhunwala holds a 10.82% stake, would be the first gaming company to list in India. The issue was subscribed 175.5 times, with the retail portion subscribed 75.3 times.

The BSE Sensex is trading up by 524 points. Meanwhile, the NSE Nifty is trading higher by 173 points.

HUL is among the top gainers today. M&M, on the other hand, is among the top losers today.

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

All sectoral indices are trading in green with stocks in the metal sector and healthcare sector witnessing most of the buying interest.

The rupee is trading at 72.79 against the US$.

Gold prices are trading up by 0.7% at Rs 43,850 per 10 grams.

Crude oil prices fell today as shipping traffic resumed through the Suez Canal after days on hold and attention switched to an OPEC+ meeting this week where the extension of supply curbs may be on the table amid new coronavirus pandemic lockdowns.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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