The Nikkei is up 1.8% while the Shanghai Composite is up 0.4%. The Hang Seng is up 1.6%.
In US stock markets, Wall Street indexes ended sharply higher on Thursday after a strong quarterly report from Meta Platforms removed beaten technology and growth stocks and stoked concerns about a contraction of the US economy in the first quarter. gave.
The Dow Jones rose 1.9% while the Nasdaq rose 3.1%.
Back home, Indian stock markets are trading on a positive note. Benchmark indices are down from their day’s highs but are still trading in the green.
Market participants are tracking the stocks of Wipro, Maruti Suzuki, UltraTech Cement, SBI Cards and IndusInd Bank as these companies announce their March quarter results today.
BSE Sensex is trading up 103 points. Meanwhile, NSE Nifty is trading with a gain of 24 points.
Sun Pharma and Dr Reddy’s Lab are among the top gainers today. On the other hand, Axis Bank is the biggest loser today.
BSE Mid Cap Index is up 0.3% while BSE Small Cap is trading on a flat note.
Sectoral indices are trading mixed with auto sector and healthcare sector stocks witnessing mostly buying.
On the other hand, the shares of electricity are trading in the red mark.
Shares of Reliance, Crisil and Sun Pharma hit 52-week highs today.
Rupee is trading at 76.56 against US Dollar.
Gold prices up 0.6% 51,570 per 10 grams.
Meanwhile, silver prices are trading higher by 0.5%. 64,275 per kg.
Gold rose as a lower US Treasury yield was offset by pressure from a higher dollar.
It is headed for the biggest monthly decline since September on fears of aggressive interest rate hikes by the Federal Reserve.
Crude oil gains fell today as China’s Covid-19 lockdown weighed on crude oil demand outlook, though supply disruptions are expected as Western sanctions curbed crude and exports of products from Russia pushed up prices. reduced.
According to sources in the news from the semiconductor space, the government will finalize it. companies for semiconductor manufacturing soon under incentive scheme
So far five firms have applied under 760 billion Semiconductor Promotion Scheme and the government is expecting more global firms to participate.
Therefore, it will not take long when India becomes a hub and semiconductors made in India become a reality.
By mid-May, the India Semiconductor Mission (ISM) CEO will be appointed, after which applications will be analyzed and selected. Based on the recommendations of the ISM, the cabinet will decide the final firms to receive the capital gains.
According to sources, the entire ecosystem at once gets semiconductors in indiaElectronics firms will have to get their chipsets locally. If the chipset is not made in India, the firms can import but if the same type of chipset is manufactured in India, the firms have to buy it locally.
We will keep you informed about the latest developments in this field. stay tuned.
Speaking of semiconductors, note that TSMC is the largest contract manufacturer of semiconductor chips in the world. The company manufactures chips for major tech firms like Apple, Nvidia, Intel, Qualcomm, etc.
It is one of the most successful companies whose stock has been a big money maker.
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Stocks are moving up on specific news…
PVR is one of the most talked about stocks today.
PVR Cinemas has entered into an exclusive tie-up with Oma Cinemas, a premium auditorium concept created by renowned French architect Pierre Chican, to roll out theaters inspired by opera houses in India.
India’s leading cinema exhibition player made the announcement at CinemaCon 2022 in Las Vegas, the largest gathering of movie theater owners from across the world.
PVR has been in touch with Ooma Cinemas for nearly two years and will start working on the pilot, which is expected to be ready in 18-24 months.
While the financial details of the deal are yet to be disclosed, PVR will pay a one-time fee for each Ooma Cinema opened.
Note that PVR has recently launched Mumbai’s first rooftop drive-in theater at Jio World Drive in Mumbai
PVR share price is currently trading up 0.3%.
To learn more, check out PVR’s financial factsheet and its latest quarterly results,
(This article is syndicated from) Equitymaster.com,