After trading in the positive territory during post noon trading session, the Indian equity markets gathered further momentum and closed the day in the green. While the BSE-Sensex today closed higher by 96 points, the NSE-Nifty closed higher by 34 points. Midcaps and Smallcaps too closed in the green today. While the BSE Mid Cap index was up by 1.11% the BSE Small Cap index closed higher by 1.06%. Realty and power stocks were the biggest gainers today.
As regards global markets, Asian pack closed mixed today. The rupee was trading at Rs 63.19 odd levels to the dollar at the time of writing.
Telecom stocks have ended the day on a strong note. The telecom regulatory authority of India (TRAI) today announced the base price of Rs 27.2 bn per Mhz for pan India 3G spectrum. This is about 22% lower than the previous auction price which stood at Rs 35 bn per Mhz bringing relief to the telecom operators. Further, the regulator said that the operators who win spectrum in the upcoming auction will need to roll out the network within 3 years of getting the radio waves. In the earlier auction which happened in 2010, the roll out obligation was pegged at 5 years.
Engineering stocks ended mixed today. L&T bagged orders worth Rs 25.2 bn in its buildings & factories business. The orders came from both domestic as well as international markets. The overseas orders are bagged by the company's subsidiary in Oman which has got an order for construction of new passenger terminal. This subsidiary has also got another order for turnkey construction of a 4 star hotel. In the domestic market the company has got an order from one developer to construct residential apartments in Bangalore.