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Indian markets close flat
Tue, 31 Mar Closing

After trading in the green for most of the session, the Indian stock markets closed flat just below the dotted line. Profit booking was witnessed in banking and capital goods stocks. The BSE-Sensex closed down 18 points and the NSE-Nifty closed down 1 point. The BSE Midcap index closed higher by 0.3% and the BSE smallcap index closed higher by 0.9%. Asian markets closed mixed today with the Taiwan index leading the gainers and the Japanese index leading the losers. European markets are currently trading in the red.

Coming to commodities Crude is trading down Rs 20 (or 0.7%) at 3,000 levels. Gold is trading down Rs 25 (or 0.1%) at 26,250 levels. Silver is trading down Rs 140 (or 0.4%) at 37,300. The rupee is trading at 62.57 to a dollar.

Software stocks ended mixed today. While Wipro led the gainers; Infosys led the losers. India's third largest software firm Wipro is in the middle of an organizational reshuffle. The company's Chief Financial Officer (CFO) Suresh Senapati has retired today. An announcement of a replacement is imminent. As per a leading financial daily, the company's chief strategy officer Rishad Premji may also find a place on the board. Wipro is in the middle of a turnaround in growth and the company is keen to hand over leadership positions to the next generation from within the firm.

Telecom stocks ended mixed today. While Bharti Airtel led the gainers; Reliance Communications led the losers. As per a leading financial daily, the government will announce the much-awaited spectrum sharing and trading guidelines in three months. This is an important reform that will allow telcos to share unutilized spectrum with other service providers in the same circle. It will lead to more efficient use of spectrum thereby lowering costs as well as leading to better quality of service. The regulator TRAI had made this suggestion last year.

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