After trading in the red for most of the trading session, the Indian Indices closed the day flat after buying interest was witnessed late in the day. While the BSE-Sensex closed higher by 8 points; the NSE-Nifty closed higher by 1 point today. Mid and small caps outperformed today. While the BSE Mid Cap index closed up by 0.6%; the BSE Small Cap index closed higher by 1.2%. Metal stocks were the biggest gainers today.
Asian stock markets closed mixed today. The rupee was trading at Rs 63.24 to the dollar at the time of writing.
Energy stocks ended mixed today. While Chennai Petroleum led the gainers; Cairn India was the biggest loser. Oil marketing firms have lowered prices of non-subsidised LPG cylinders and aviation turbine fuel (ATF). Each non-subsidised LPG cylinder will be cheaper by Rs 43.5 while ATF prices have been lowered by 12.5%. This is the fifth cut in the price of non-subsidised LPG cylinders since August 2014. However, the price of the subsidised LPG cylinders has been kept unchanged at Rs 417. The cut in ATF prices will help ease operating costs of airlines as this fuel accounts for more than 40% of the same.
Most telecom stocks ended higher today. Tata Teleservices and Reliance Communications led the gainers. As per a leading financial daily, India's largest telco Bharti Airtel, has tied up with Chinese handset maker Xiaomi, to offer 4G services. Bharti will offer its 4G service on the Xiaomi Redmi Note at a price of Rs 9,999 in six cities. The phone will be available in only 133 stores initially on a first-come-first serve-basis. 3G customers availing the device will be able to enjoy 4G speeds without having to switch to a new 4G plan. Bharti has launched 4G services in 16 circles with limited success so far. It was the first company to launch 4G services in India. Bharti Airtel ended the day up 3%.