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Indian indices open flat
Tue, 19 May 09:30 am

The Indian share markets have opened on a flattish note. The Sensex is down 49 points (down 0.18%) and the NSE-Nifty is down 20 points (down 0.23%) at 8,354. BSE Mid Cap and BSE Small Cap continue to outperform the markets with both the indices up by 0.3% each. Among sectoral indices, Oil & gas sector witnessed majority of the profit booking. While, Realty and IT sector saw most of the investors attention.

Globally, the US markets ended higher with the Dow Jones Industrial Average and S&P 500 ending at new records amid renewed rise in bond yields. In Europe too shares closed higher yesterday after trading in and out of the red during the trading session, among growing concerns about the future of cash-strapped Greece. The Asian markets have opened with a positive bias. The Indian rupee opened with marginal loss of 8 paise at 63.79 per dollar against previous close of 63.71.

Shares of IT solutions provider NIIT technologies have opened on a positive note after it was reported that the company had signed a strategic agreement to acquire a majority stake in Incessant Technologies. Incessant will provide NIIT Technologies in the digital integration space with digital legacy integration, digitization and automation of business processes for seamless customer experience. Reportedly, the transfer of its stake will enable Incessant Technologies to build new capabilities, invest in Research and Development, expand in new geographies like North America and Europe and enter into new verticals such as travel and transportation.

Power stocks have opened the trading on a mixed note. According to a leading financial daily, Tata Power Renewable Energy, a subsidiary of Tata Power Ltd, is set to expand its wind power generation capacity by 150 MW this fiscal. This will take the company's installed capacity to more than 700 MW. The company is looking to acquire wind and solar power assets in the country. Reportedly, the company is ready to buy both completed projects and those with all clearances and set to be executed. Tata Power has a total installed capacity of 8,750 MW, of which 1,383 MW belongs to clean and renewable energy. The company's wind and solar portfolio stands at 566 MW. The company had earlier acquired a 40 MW wind power asset from AES power.

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