Share markets in India finished flat as the sentiment turned tepid ahead of the outcome of the US Federal Reserve's meeting later in the day. At the closing bell, the BSE Sensex stood lower by 45 points, while the NSE Nifty finished down by 2 points.
Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap finished up by 1% and 0.7% respectively. Gains were largely seen in realty stocks & auto stocks.
Telecom stocks finished the trading day on a firm note with Idea Cellular and Reliance Communications leading the gains.
Idea share price surged 9.6% in today's trade after reports stated that ATC was close to completing a buyout of the firm's tower business. As part of the deal structure, ATC may merge Idea's tower business with its India portfolio as well as the acquired business of Viom.
Asian stock markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.08%, while the Nikkei 225 & the Hang Seng fell 0.16% and 0.15% respectively. European markets are higher today with shares in London leading the region.
The rupee was trading at Rs 66.51 against the US$ in the afternoon session. Oil prices were trading at US$ 48.55 at the time of writing.
Bharat Heavy Electricals Ltd (BHEL) share price surged 3.1% in today's trade after it was reported that the company commenced commercial operation of its first 800 MW unit. The commercial unit has highest-rating coal-based supercritical thermal power plant.
Moving on to news from economic sector. According to a leading financial daily, the US Trade Representative (USTR) in its voluminous annual report on trade has said that India's GDP growth along with indirect taxation reforms could support considerably more US exports to the country in future.
Tata Power share price finished on an optimistic note (up 1.7%) after Tata Power Solar doubled its capacity for module manufacturing in Bengaluru. The company launched a fully automated manufacturing unit with capacity for module manufacturing increasing from 200 MW to 400 MW and 65 per cent increase in capacity of cell manufacturing from 180 MW to 300 MW.
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