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Indian markets trade higher
Wed, 2 Apr 11:30 am

After opening firm, the Indian Indices are trading above the dotted line in the morning session. The buying interest is highest in pharma and energy stocks while the selling pressure is limited to FMCG and metal stocks.

The BSE Sensex is trading up 50 points and the NSE-Nifty is trading up 12 points. The BSE Mid Cap index is trading up 0.8% and the BSE Small Cap index is trading up 0.9%. The rupee is trading at 59.67 to the US dollar.

Most software stocks are trading higher today. Infosys and HCL Technologies are leading the gainers. India's third largest software firm Wipro has announced the expansion of its operations in Scotland. The company currently has 280 employees in the country. It will add 90 more in the next few months, to be followed up with bigger plans later. In this expansion drive, Wipro will double the size of its workforce at its centre in East Kilbride. This center primarily caters to companies in the energy sector. Wipro has had this presence in Scotland for the last 15 years. Wipro is trading higher by 1% today.

Most telecom stocks are trading higher today. Bharti Airtel and Idea Cellular are leading the gainers. As per news reports, the country's largest telecom firm Bharti Airtel has been granted permission by the authorities in Kenya to expand its operations in the country. The Kenyan telecom regulator has granted the company conditional approval to buy the network of a local telecom firm Yu networks. The approval has been granted to both Bharti's local unit as well as Safaricom, another telco operating in Kenya, as these companies had made a joint application. Under the terms of the approval, Bharti will acquire the subscriber base of Yu while Safaricom will acquire its telecom infrastructure. The approval has come with several regulatory conditions attached to it. Both Bharti and Safaricom will pay US$ 5.4 m towards this deal. Bharti Airtel is trading higher by 4% today.

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