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.

Bitcoin rose after Visa Inc. said its payments network will use a stablecoin backed by the US dollar to settle transactions, as blockchain technology gains more acceptance in the established financial system.

Speaking of the current stock market scenario, note that the bearish move last week has certainly raised concerns in minds of investors in India with the Nifty forming a lower low and the trendline being broken.

In news from the pharma sector, Dr Reddy's Laboratories is among the top buzzing stocks today.

As per an article in The Economic Times, pharma major Dr Reddy's Laboratories expects the Russian coronavirus vaccine Sputnik V to get approval from the Indian regulator in the next few weeks.

"We expect to get the approval in the next few weeks. It is a two-dose vaccine. You take the first dose on day zero and the second one on day 21. The peak immunity develops somewhere between day 28 to day 42," Deepak Sapra, the company's CEO, APIs, and Services, said.

Mr. Sapra, who was speaking in a webinar on Sunday evening, was asked as to how soon Sputnik would be available and whether it is a one-dose or two doses vaccine.

Dr Reddy has partnered with the Russia Direct Investment Fund (RDIF) to bring the Sputnik V vaccine to India and other countries, he said.

Observing that trials of the vaccine have been conducted in Russia, India, the UAE, and others, he said the vaccine demonstrated the efficacy of 91.6% as published in the reputed journal Lancet.

The data on trials is currently with the Indian regulator and the company expects it to get approved in the next few weeks.

Dr Reddy's Lab share price has opened the day up by 2.1%.

Here's interesting data on Dr. Reddy's Lab, investing just Rs 100,000 in Dr. Reddy's Labs in 1992, it would have given a whopping Rs 4.89 crores in 2014!

Co-head of Research, Tanushree Banerjee believes, the opportunities in the Rebirth of India are not only more profitable than the ones in 1991 but the gains could come faster too.

Moving on to news from the mining sector, Coal India's share price is in focus today.

World's largest miner Coal India is likely to post marginal contraction of its output for the year 2020-21 by 5-6 million tonne in 2020-21 as its production well below the 600 million mark.

In 2019-20, the miner produced 602 million tonnes down from 606.9 million in 2018-19 when it registered its highest production.

It will be the second year in a row when the miner will register degrowth.

Coal India had projected a 660 million tonne production target and by mid-year, the company had been expecting to attain 630-640 million tonne of output. Officials attributed Covid-19 disruptions as the key factor behind lower demand resulting in a stockpile building up, compelling the mining giant to moderate output.

Inventory with Coal India stood at around 77.8 million tonnes as of February-end, up from 66.8 million tonnes at the end of January 2021.

Coal stocks at power plants stood at 31.9 million tonnes at the end of February, enough to last 17 days. This has resulted in a fall in coal offtake for the third straight month. Coal offtake fell by 7% year-on-year during February 2021.

Coal India's share price has opened the day up by 0.9%.