Indian share markets trade lower. The BSE Sensex is down 286 points, while the Nifty is trading lower by 53 points.
Asian share markets are mixed today after stunningly strong US jobs data soothed concerns about the global economy but also added to the risk of an aggressive tightening by the Federal Reserve.
The Nikkei slumped 0.8% while the Shanghai Composite zoomed 1.9%. The Hang Seng is down 0.3%.
In US stock markets, Wall Street indices witnessed another bumpy ride on Friday with the Nasdaq recovering much of the ground it lost in the previous session, as Amazon's positive earnings capped a week of mixed big-tech numbers.
The Dow Jones ended flat while the Nasdaq Composite rallied 1.6%.
Back home, Indian share markets are trading on a negative note. Benchmark indices started on a muted note but fell as the session progressed, extending weakness from the previous session and tracking FII activity.
Net-net, foreign portfolio investors (FPIs) have turned sellers of domestic stocks to the tune of ?22.7 bn, data available with NSE suggested. DIIs turned net sellers to the tune of ?6.2 bn, data suggests. FPIs took out ?36.3 bn from equities during 1-4 February.
Weak global cues amid surging US bond yields also dampened the sentiment.
Market participants will track shares of PolicyBazaar, Tube Investments of India, Union Bank of India, TVS Motor Company, and Minda Industries as these companies will announce their December quarter results today.
The BSE Sensex is trading down by 286 points. Meanwhile, the NSE Nifty is trading lower by 53 points.
Hindalco and ONGC are among the top gainers today. Hero MotoCorp, on the other hand, is among the top losers today.
The BSE Mid Cap index is up 0.2% while the BSE Small Cap index is trading higher by 0.4%.
Sectoral indices are trading mixed with stocks in the IT sector and finance sector witnessing selling pressure.
Realty stocks and oil & gas stocks, on the other hand, are trading in green.
Shares of Deepak Fertilizers and GMDC hit their 52-week highs today.
Dr Reddy's Labs fell 1% after rising over 5% in early trade after the Drugs Controller General of India (DCGI) granted approval to the single-shot Sputnik Light vaccine for restricted use in emergency situation in India.
The rupee is trading at 74.71 against the US$.
Gold prices are trading up by 0.3% at ?48,050 per 10 grams.
Meanwhile, silver prices are trading higher by 1.2% at ?61,582 per kg.
Gold rose today as growing worries over broadening price pressures lifted the metal's appeal as an inflation hedge and helped cushion pressure from higher US Treasury yields after a surprisingly upbeat jobs report.
Crude oil prices edged higher reversing earlier losses, as investors kept bullish sentiment on expectations that global supply would remain tight as demand picks up and shrugged off signs of progress in the US-Iran nuclear talks.
In news from the power sector, NTPC is among the top buzzing stocks today.
State-run power giant NTPC on Saturday said that its 74.88 MW power generation capacity is commercially operational at Fatehgarh Solar PV Project at Jaisalmer in Rajasthan.
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