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Indian markets open on a weak note
Tue, 16 Jun 09:30 am

Asian stock markets have started today's trading session on a back foot with markets in Japan (down 0.6%) and Hong Kong (down 0.5%) being the leading losers. US and European stock markets also closed their session on a weaker note. The rupee is trading at 64.08 per US dollar.

Indian markets have opened the day in red. BSE Sensex is trading lower by 58 points (down 0.2%) while NSE-Nifty is trading lower by 21 points (down 0.2%). On the other hand while, BSE Mid Cap is marginally up by 0.2%, however BSE Small Cap index is trading marginally down by 0.01%. Sectoral indices are trading mixed with stocks in software and auto witnessing maximum buying interest.

As per financial daily, the Wholesale Price Index (WPI) based inflation for May 2015 contracted 2.36%. This marked the seventh straight month of decline. This is against the WPI-based inflation of 6.18% in the same month for the last fiscal. For the month of April this year, WPI-based inflation had contracted 2.65%. For May 2015, wholesale fuel prices fell 10.51%, while manufacturing goods prices contracted 0.64%.

Stocks in the software space have opened the day on a mixed note. As per a leading financial times, stock of India's second largest outsourcer, Infosys have turned ex-bonus with effect from June 15. The company had announced a 1:1 bonus issue for shareholders on its meeting held on April 24. The board has also recommended a final dividend of Rs 29.5 per equity share, which is equivalent to Rs 14.75 per share after bonus issue, for the financial year ended March 31, 2015. The company for the above purposes has fixed 17 June, 2015 as a record date for the issue of bonus shares and final dividend. Stock of Infosys has opened the day on a positive note.

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