Asian equity markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.51%, while the Hang Seng is up 0.20%. The Shanghai Composite is trading up by 0.45%. Stock markets in the US finished their previous session on a positive note.
Meanwhile, Indian share markets have opened the day on a positive note. The BSE Sensex is trading higher by 128 points while the NSE Nifty is trading higher by 24 points. The BSE Mid Cap index and BSE Small Cap index have opened the day up by 0.3% & 0.4% respectively.
Barring information technology stocks, all the sectoral indices have opened the day in green with PSU stocks and energy stocks being the top gainers on the BSE. The rupee is trading at 66.85 to the US$.
Coal India share price opened up by 1.4% after it was reported that Central Coalfields Limited (CCL), a wholly-owned subsidiary of Coal India, approved the buy-back of equity shares not exceeding Rs 10 billion in value. The shares proposed to be bought back by the miner's subsidiary represent 5.54% of the existing paid-up capital of CCL.
Telecom stocks have opened the day in green with Tata Communications and AGC Networks being the most active stocks in this space. According to an article in a leading financial daily, Bharti Airtel and Millicom International Cellular SA have agreed to merge their telecommunication operations in Ghana (Subscription Required) with equal stakes in the combined entity.
Bharti Airtel share price opened the day up by 1.5%.
Moving on to the news from information technology stocks. In the latest development, the US announced that in order to clear the backlog of pending visa applications, it would temporarily suspend the 'premium processing' of H-1B visas from April 3.
S&P BSE Information Technology Index began trading down by 0.8% with Infosys and Tech Mahindra leading the losses.
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