Asian stock markets are trading on a positive note today, rising for the third straight session as risk appetite was aided by recent data showing the world economic recovery from the coronavirus pandemic was well on track.

The Nikkei reversed early losses and is presently trading up by 0.4% while the Hang Seng is up 0.1%. The Shanghai Composite is trading higher by 0.2%.

US stock markets rebounded on Friday as Wall Street reassessed concerns arising from news that the White House could seek a hike to the capital gains tax.

The Dow Jones Industrial Average gained 228 points, or 0.7% amid a jump in Goldman Sachs and JPMorgan shares. The Nasdaq also climbed 1.4%.

The Dow and the Nasdaq fell 0.5% and 0.3% for the week, respectively.

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

Market participants are tracking shares of Tech Mahindra, SBI Card, and HDFC Life as these companies are scheduled to announce their quarterly numbers today.

The BSE Sensex is trading up by 664 points. Meanwhile, the NSE Nifty is trading higher by 188 points.

ICICI Bank is among the top gainers today. HCL Tech, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index have opened higher by 0.6% and 1.1%, respectively.

Barring healthcare stocks, all sectoral indices are trading in green with stocks in the banking sector and finance sector witnessing most of the buying interest.

The rupee is trading at 74.79 against the US$.

Gold prices are trading up by 0.1% at Rs 47,592 per 10 grams.

Speaking of stock markets, in his latest video for Fast Profits Daily, Brijesh Bhatia talks about the Nifty and Bitcoin.

Nifty and bitcoin have been very volatile in recent weeks. In the video, Brijesh explains why he is expecting the bearish momentum to end soon.

As per Brijesh, Nifty is likely to find the lost ground in the range of 13,964-14,071 as we are witnessing multiple support zones as per technical and derivatives structure.

Meanwhile, Bitcoin falling off the cliff on political drama is likely to take a pause in the zone of US$ 45,000 - US$ 46,000 as the support is placed with the Fibonacci time cycle.

In news from the FMCG sector, ITC is among the top buzzing stocks today.

ITC on Saturday said it has tied up with Linde India, an industrial gases company, to air freight 24 cryogenic ISO containers of 20 tonnes each to help with the transportation of medical oxygen to hospitals that are facing acute shortage of the essential item.

"With the unprecedented emergency caused by the second wave of COVID-19, there has been an exponential rise in demand for medical oxygen, which is the most critical need at this hour to save valuable lives. To serve the national priority of easing the bottleneck of transporting medical oxygen, and to support the Government's efforts, ITC Limited has tied up with Linde India Ltd. to airfreight 24 cryogenic ISO containers of 20 tons each from Asian countries for use by them to transport medical oxygen across the country," ITC said in a statement.

The company is also airlifting large numbers of oxygen concentrators for distribution. Its paperboard unit in Bhadrachalam has also commenced a supply of oxygen to neighboring areas.

Note that several states have been making desperate calls for oxygen supplies as a surge in COVID cases has left the country's medical infrastructure strained.

Supply of medical oxygen apart, lack of equipment to carry ample oxygen in time to states in need is also causing hindrance in the movement and distribution of medical oxygen.

In the last few days, several hospitals in Delhi, for instance, have made desperate pleas over depleting levels of oxygen in their facilities.

ITC share price has opened the day up by 0.5%.

Speaking of the FMCG sector, have a look at the chart below which shows the performance of BSE Sensex and BSE FMCG index since 2009:

While Sensex has offered 393% returns since 2009, the BSE FMCG index has gone up a staggering 532% returns over the same period.

Richa Agarwal, a lead Smallcap Analyst at Equitymaster, believes this outperformance could continue for many years.

With a rising population and standards of living, Indian's consumption demand for FMCG products will skyrocket over the coming years.

We are keeping a close eye on FMCG stocks and will keep you updated on all the news from this space. Stay tuned!

Moving on, as per an article in The Economic Times, the Shapoorji Pallonji Group has filed a review petition before the Supreme Court challenging the top court's March 26 verdict in the dispute between Tata Sons Limited and Cyrus Mistry in which the Court had ruled in favor of Tata.

The Supreme Court in its March 26 judgment had set aside the December 2019 order of NCLAT which had reinstated Cyrus Mistry as the chairperson of Tata Sons.

The SP group had moved National Company Law Tribunal over Mistry's removal and alleging "oppression" of minority shareholders and "mismanagement".

Days after the Tata Group's big win in one of the most high-profile boardroom legal battles in recent years, Mr. Mistry had said, "as a minority shareholder of Tata Sons, I am personally disappointed by the outcome of the judgment with respect to our case. Although I will no longer be able to influence the direction of governance of the Tata group directly, I hope that the issues I have raised will cause deeper reflection and influence individuals concerned to catalyze change. I sleep with a clear conscience."

In October 2016, Cyrus Mistry was removed as Tata Sons chairman after a dramatic ouster. Months later, in December, two Mistry family-backed investment firms - Cyrus Investments Pvt Ltd and Sterling Investments Corporation Pvt Ltd - moved the National Company Law Appellate Tribunal (NCLAT), alleging oppression of minority shareholders and mismanagement by Tata Sons.

Next year, in February, Mr. Mistry was removed as a director on the board of Tata Sons, holding the company of Tata group firms. The legal battle went on. In December 2019, the company law tribunal restored Mr. Mistry as the executive chairman of the conglomerate.

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