After opening flat, the Indian Indices have struggled to find a clear direction during the morning trading session. However, mid and small cap stocks are witnessing significant buying interest. Among the sectoral indices; capital goods stocks are leading the gainers while auto stocks are leading the losers.
The BSE-Sensex is trading down 35 points. The NSE-Nifty is trading down 12 points. The BSE Mid Cap index is trading up 0.8% and the BSE Small Cap index is trading up 1%%. The rupee is trading at 61.41 to the US dollar.
Telecom stocks are trading mixed today. While Tata Teleservices is leading the gainers; Idea Cellular is leading the losers. As per a leading financial daily, the Telecom Commission, the top decision making authority in the telecom sector, is scheduled to meet on 07 November to discuss the next round of spectrum auctions. The regulator TRAI had given the go ahead along with its recommendations for the auctions but had also asked the government to clarify on the amount of spectrum that it intends to put up. Telcos have already written to the government asking for the maximum possible amount of spectrum to be put up for bidding as this would ensure rational bidding.
Most software stocks are trading firm with Tech Mahindra and Persistent Systems leading the gainers. The stock price of India's second largest software firm Infosys, has hit a new record high. The company is clearly on the mend after CEO Vishal Sikka took charge. The recent quarterly results were positive. The company will go in for a 1:1 bonus issue. The management had even declared an interim dividend of Rs 30 per share. The company has maintained its FY15 guidance and has indicated that future is likely to be better. Going forward, Infosys will focus on automation, innovation and strategic acquisitions. A few days ago, Chief Operating Officer U.B Pravin Rao, had stated that the company would consider making large acquisitions to gain domain expertise as well as to drive growth. Infosys was trading flat at the time of writing.