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Energy stocks weigh down markets
Wed, 24 Dec 11:30 am

After opening flat, the Indian Indices have not found a clear direction in the morning trading session. While Auto stocks are leading the gainers; energy stocks are leading the losers.

The BSE-Sensex is trading down 33 points. The NSE-Nifty is trading down 7 points. The BSE Mid Cap index is trading up 0.3% and the BSE Small Cap index is trading up 0.2%. The rupee is trading at 63.44 to the US dollar.

Software stocks are trading mixed today. While HCL Technologies is leading the gainers; Wipro is leading the losers. As per a leading financial daily, India's second largest IT firm Infosys, has begun to aggressively market its leading banking software Finacle in the US, Europe Middle East and Africa. The software already has a dominant market share among banks in India. However, only about one-third of Finacle's revenues come from developed nations and Infosys is looking to increase this share. Finacle is used by banks on 84 countries and caters to 450 m customers. Infosys is trading up 0.4% today.

Most telecom stocks are trading higher today. Tata Communications and Tata Teleservices are leading the gainers. As per a leading financial daily, the Union Cabinet is all set to give the go ahead for the spectrum auctions in Feb 2015. The Notice Inviting Applications (NIA) could be issued as early as 26-27th of this month. The bidding could start on 23 Feb 2015. The 2G airwaves to be auctioned will be in the 800, 900 and 1,800 MHz bands. The 3G spectrum to be auctioned in the 2,100 MHz band will be added to the NIA later after the regulator TRAI finalizes the base price for the same.

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