The Hang Seng and Shanghai Composite are trading up 1.5% and 1%, respectively. The Nikkei is up 0.9%.
In US stock markets, Wall Street indices advanced on Friday as market participants digested an inflation reading that was in line with consensus but also marked the biggest annual rise in consumer prices in nearly four decades.
All indices ended the session higher and the benchmark S&P 500 posted its biggest weekly percentage advance since February, as panic over the Omicron coronavirus scare helped fuel a broader rally at the start of the week.
The Dow Jones Industrial Average gained 216 points, or 0.6%, the S&P 500 45 points, or 1%, and the Nasdaq Composite rose 113 points, or 0.7%.
Back home, Indian stock markets opened on a positive note after the SGX Nifty trend.
BSE Sensex is trading up 393 points. Meanwhile, NSE Nifty is trading with a gain of 117 points. Power Grid and Axis Bank are among Today’s Top Beneficiaries, On the other hand, Bajaj Finance is the biggest loser today.
BSE Mid Cap Index and BSE Small Cap Index are trading up 0.7% and 1.1% respectively.
All sectoral indices are trading in the green with the power sector and metal sector stocks witnessing maximum buying.
Shares of Siemens and Tech Mahindra hit 52-week high today.
Rupee is trading at 75.59 against US Dollar.
Gold prices are trading up by 0.1% 48,180 per 10 grams.
Meanwhile, silver prices are trading higher by 0.3%. 61,319 per kg.
Gold rose today as US consumer prices removed its appeal as an inflation hedge, while investors flocked to central bank meetings this week, including the US Federal Reserve, for further direction.
Crude oil prices extended gains from last Friday, helped by optimism that the impact of the Omicron coronavirus version on global economic growth and fuel demand will be limited.
Coming to the current stock market scenario, despite the BSE Smallcap index rising over 1.8x, Richa Agarwal, Head of Smallcap Analyst at Equitymaster, believes small cap stocks are expected to grow massively in 2021 and beyond. are ready for
Why here…
The smallcap to Sensex ratio has increased from 0.32x to 0.48x. This compares to the long-term median of 0.43 times. It has dropped from 0.51 in August 2021 after the recent rise in the Sensex.
More importantly, it is significantly lower than the previous peak ratio: 0.76 in September 2005, 0.68 in January 2008, 0.55 in September 2010 and 0.58 in January 2018.
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This relative valuation indicator suggests that there is still a lot of juice in the rally.
In logistics sector news, Gati share price is one of the most discussed stocks today.
The firm of Allcargo Group is looking to become Pace A. 30-bn company in three years driven by leading accounts, Micro, Small and Medium Enterprises (MSMEs) and Business-to-Business (B2B) retail.
Its chief executive officer Pirojshaw Sarkar said it has identified three areas, including talent acquisition and infrastructure creation, to achieve the target.
he admitted that The momentum deviated over the last 5-7 years as it tried its hand at other businesses, instead focusing on express logistics, before becoming owned by the Allcargo Group.
Allcargo is the promoter and largest shareholder of Gati with 47% ownership, followed by KWE with approximately 3.5% shares in the company.
Sarkar said that the company may have been shut down in service in the past but a vast network remained its strength.
With its strong presence across Asia including a nationwide network, Gati covers 735 out of 739 districts in the country and over 19,800 pin codes.
Earlier this week, Gati-KWE opened its largest state-of-the-art transshipment center at Allcargo Logistics Park in Farukhnagar, Gurugram.
The company has announced plans to set up seven more such facilities in the next 15 months including Mumbai, Bengaluru, Hyderabad, Nagpur and Indore and has announced plans to set up 12 such hubs in the next three years.
The company saw the revenue of 13.2 billion in the fiscal year ended March 2021 17.1 billion in the last financial year.
Factors such as pandemic-induced disruption, changing customer behavior and consumption patterns have had an impact on revenue numbers in the short term.
Moving on to the news from the mining sector, Anil Agarwal’s Vedanta to reward shareholders Dividend Payout This is the second time this year after posting consecutive bumper profits in the last one year.
In September, the Mumbai-based commodities major launched . announced interim dividend before 68.8 billion
Vedanta’s gains rose more than five times in the three months to September as strong demand from global stimulus pushed up base metal prices.
An exchange filing revealed that the company had approved an interim dividend. 13.50 per share, total 50.2 billion
The move comes after its cash-rich arm Hindustan Zinc announced a US$1 billion payment earlier this week. The record date for the purpose of dividend payment is 18 December 2021.
The company’s parent company Vedanta Resources will be the biggest beneficiary of this payout and the cash will help it meet some of its debt obligations.
Vedanta’s share price is currently trading up 2.2%.
This article is syndicated from Equitymaster.com
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