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Indian markets trade flat
Fri, 26 Dec 11:30 am

After opening in the red, the Indian Indices are trading flat in the morning session. Banking and engineering stocks are leading the gainers. FMCG and auto stocks are leading the losers.

The BSE-Sensex is trading up 13 points. The NSE-Nifty is trading up 3 points. The BSE Mid Cap index is trading up 0.4% and the BSE Small Cap index is trading up 0.2%. The rupee is trading at 63.61 to the US dollar.

Telecom stocks are trading mixed today. While Reliance Communications is leading the gainers; Mahanagar Telephone Nigam Ltd (MTNL) is leading the losers. As per a leading financial daily, the government will look into Bharti Airtel's recent decision to charge separately for Voice over Internet Protocol (VoIP) services. Bharti has announced plans to charge customers for calls made on its data packs using services like Skype, Viber, and Line etc. The company had announced that it would charge 4 paise/10 KB and 10 paise/10 KB for VoIP calls on its 3G and 2G networks respectively. The move is unprecedented and the government will now examine if the company can be allowed to go ahead with it. Bharti Airtel is trading down 0.5% today.

Steel stocks are trading mixed today. While Tata Sponge is leading the gainers; Steel Authority of India Ltd (SAIL) is leading the losers. As per a leading financial daily, Union Minister for Steel, Narendra Singh Tomar, has stated that the government is doing its best to ensure adequate supply of iron ore and coal to the steel industry. While replying to a question in Parliament, he stated that there is a crisis in the industry due to inadequate supply of the key raw materials and the government was trying to resolve it as soon as possible. He stated that the recent Supreme Court order cancelling coal block allocations have not had an adverse impact yet as the mines have been allowed to function till 31 March 2015. The Steel Ministry has been working closely with the Coal Ministry to ensure adequate supplies of raw materials are provided to the industry.

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