After opening in the green, the Indian Indices are trading flat in the morning session. The buying interest is the highest in auto and pharma stocks. The selling pressure is focused in software stocks.
The BSE Sensex is trading up 25 points and the NSE-Nifty is trading up 10 points. The BSE Mid Cap index is trading up 0.7% and the BSE Small Cap index is trading up 0.9%. The rupee is trading at 61.96 to the US dollar.
Software stocks are trading lower today. Tech Mahindra and Wipro are among the stocks leading the losers. As per a leading news daily, India's fourth largest software firm HCL Technologies will develop a 100 acre IT campus in the city of Lucknow. 60 acres will be devoted to the development of IT centers while the rest will be for the supporting infrastructure as well as social activities. HCL Tech's investment arm, Vamasundari Investments Pvt. Ltd has been awarded the project by the Uttar Pradesh state government. This center is expected to create about 25,000 job opportunities. It will also have a skill development center with a capacity to train more than 5,000 people. HCL Tech is trading down 0.6% today.
PSU banking stocks are trading higher today. UCO Bank and Dena bank are among the stocks leading the gainers. In a communication to the general public, the Reserve Bank of India (RBI) has asked people not to fall prey to rumors that banks would stop accepting notes with anything written on them from today. The RBI has, in a notification, said that there is no truth to these rumors and the public could use their notes without fear. The RBI has also clarified on its circular issued earlier that instructed bank staff to not scribble anything on bank notes. It has said that this circular was issued only because of its clean note policy and has asked the public to co-operate with the same. However banks will continue to accept notes with any writing on them.