Asian equity markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.34%, while the Hang Seng is up 0.61%. The Nikkei 225 is trading higher by 0.79%. US equities rose sharply on Tuesday as solid quarterly reports from several large-cap companies rolled through.

Meanwhile, share markets in India have opened the day on a firm note tracking global cues. The BSE Sensex is trading up by 86 points while the NSE Nifty is trading up by 30 points. The BSE Mid Cap index and BSE Small Cap index have opened the day up by 0.3% & 0.5% respectively.

All the sectoral indices have opened the day in green with stocks from metal sector, IT sector and FMCG sector leading the gains. The rupee is trading at 64.28 to the US$.

Axis bank share price is trading higher by 1.7% ahead of its fourth quarter earnings. As per the reports, Axis Bank is expected to show dismal performance in the quarter as profit is seen falling sharply by 59.5% year-on-year to Rs 8.72 billion against Rs 21.54 billion.

Information technology stocks opened the day in green with Wipro (WIT) and Tech Mahindra witnessing maximum buying interest. Wipro Ltd on Tuesday reported a strong set of fourth-quarter earnings. The company’s earnings beat street estimates to end a year in which India’s three largest services firms all lagged behind the industry’s average growth pace.

Wipro Limited announced a marginal increase in its net profit for the fourth quarter ended 31 March 2017 to Rs 22.67 billion as against Rs 22.57 billion in the same period the previous year. Net revenue for the quarter rose 5% to Rs 150.33 billion backed by other income of Rs 4.08 billion from the sale of its EcoEnergy business.

However, the company expects its IT services business to contract by 0%-2% in Q1 of FY18 primarily due to the impact in its healthcare and retail businesses. Wipro’s muted outlook comes as Indian IT firms brace for new visa rules in the US and growing protectionism in countries such as Australia and New Zealand.