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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Mid & small caps outperform 
(Thu, 1 Jan 11:30 am) 
 
After opening in the red, the Indian Indices are trading flat in the morning session amid outperformance among mid and small cap stocks. Metal and engineering stocks are leading the gainers. Banking, FMCG and energy stocks are trading weak.

The BSE-Sensex is trading down 23 points. The NSE-Nifty is trading down 8 points. The BSE Mid Cap index is trading up 0.6% and the BSE Small Cap index is trading up 0.9%. The rupee is trading at 63.27 to the US dollar.

Software stocks are trading mixed today. While HCL Technologies is leading the gainers; Tata Consultancy Services (TCS) is leading the losers. As per a leading financial daily, a major restructuring exercise is underway at Infosys. India's second largest IT firm has started building a team of core domain specialists to engage with clients better. These will be people who have deep technical experience and will work alongside the service line teams to deliver better overall customer experience. Along with this move, the company has also put in place a team of 12 to deal with all serious employee issues. Infosys is trading flat today.

Most telecom stocks are trading higher today. Tata Teleservices and Reliance Communications are leading the gainers. As per a leading financial daily, 2015 will be a tough year for Indian telcos in the face of a new challenger in Reliance Jio Infocomm (RJio). In the upcoming spectrum auctions in February, telcos are expected to bid aggressively to gain pan India 3G spectrum. While RJio may not go in for 3G spectrum as it is focused on 4G, it can very well bid up prices of 3G spectrum to squeeze margins of the incumbents. The regulator TRAI has recommended a base price of Rs 27.20 bn for 3G spectrum at the auctions but the final price could be much higher if the bidding is intense.

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