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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Mid and small caps outperform 
(Wed, 26 Nov 11:30 am) 
After opening in the red, the Indian indices have remained below the dotted line during the morning session amid outperformance among mid and small cap stocks. FMCG and energy stocks are leading the gainers while IT and banking stocks leading the losers.

The BSE-Sensex is trading down 75 points. The NSE-Nifty is trading down 24 points. The BSE Mid Cap index is trading up 0.4% and the BSE Small Cap index is trading up 0.7%. The rupee is trading at 61.81 to the US dollar.

Most software stocks are trading lower today. Wipro and HCL Technologies are leading the gainers. India's largest software firm Tata Consultancy Services (TCS), has announced the setting up of offshore centers in India for its Japanese clients. TCS had acquired Mitsubishi's IT business earlier this year and has been running that business from Japan. Thus the company's margins from this business were in single digits. By developing offshore operations for this business, the company hopes to boost margins. Japan is the world's second largest IT market but Indian IT vendors have less than 1% market share. TCS hopes to generate revenues of US$ 1 bn from Japan over the next few years. TCS is currently trading down 0.2% today.

Most telecom stocks are trading mixed today. While Mahanagar Telephone Nigam Ltd. (MTNL) is leading the gainers; Bharti Airtel is leading the losers. As per a leading financial daily, telecom firms have written to the government for permission to continue using their existing spectrum until adequate spectrum is made available. Many telcos will see their spectrum licenses expire in 2015-2016. The government is yet to provide a clear time-line regarding the auctions. Telcos fear that this situation will lead to a spectrum shortage which will hurt the consumer. The government is set to auction 2G and 3G spectrum separately in Feb and May 2015. However, there is no clarity on several issues regarding further auctions.

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May 26, 2017 (Close)