Asian equity markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.14%, while the Hang Seng is up 0.31%. The Shanghai Composite is trading up by 0.36%. European stock markets finished weak in their previous trading session.
Meanwhile, Indian share markets have opened marginally higher. The BSE Sensex is trading up by 71 points while the NSE Nifty is trading up by 26 points. The BSE Mid Cap index opened up by 0.6% while BSE Small Cap index opened up by 0.7%.
All sectoral indices have opened the day in green with oil & gas sector and capital goods sector leading the pack of gainers. The rupee is trading at 65.38 to the US$.
Telecom stocks are trading mixed with MTNL and Idea Cellular being the most active stocks in this space. As per an article in a leading financial daily, Idea Cellular and Vodafone are in talks with Brookfield Asset Management and American Tower for a sale of their telecommunications infrastructure in India.
Idea Cellular share price opened the day up by 1%.
Moving on to the news from stocks in oil & gas sector. As per an article in The Economic times, the government has cleared a policy for extending the term of more than two dozen oil and gas production contracts signed prior to 1999 in a bid to bolster energy security. The move is expected to fetch an additional investment of about US$5.43 billion.
Energy stocks began trading on a positive note with Suzlon Energy and Cairn India witnessing maximum buying interest.
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