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Indian share markets open flat
Fri, 7 Nov 09:30 am

Barring Indonesia (down 0.3%), all major Asian stock markets have opened the day on a positive note with the markets in China (up 0.6%) and Japan (up 0.4%) leading the gains. The Indian share markets have opened the day on a muted note. The sectoral indices are trading mixed with banking and auto indices leading the losses. However, the realty and consumer durables indices are trading firm.

The Sensex today is down by around 2 points (0.01%), while the NSE-Nifty is also down by about 2 points (0.03%). However, mid and small cap stocks are trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.3% and 0.2% respectively. The rupee is currently trading at Rs 61.39 to the US dollar.

Information technology stocks have opened the day mainly in the green with Moser-Baer India and Infosys Ltd leading the gains. As per a leading financial daily, Bangalore-based software services exporter Infosys Ltd has announced plans to hire 2,100 professionals in the US over the next 12 months. The hiring will be done across consulting, sales and delivery with an aim to scale up its global presence. It is worth noting that the company will have an additional team of 300 management graduates working in some of the disruptive technologies, including big data and analytics. The company is also planning to increase its consulting practice by hiring 180 graduates.

Auto stocks have opened the day mainly on a weak note with Escorts and Hero MotoCorp leading the losses. As per a leading financial daily, US-based private investment firm Bain Capital is selling shares in India's leading two wheeler maker Hero MotoCorp worth US$ 200 million, with an option to sell more. The private investment firm is selling 4.3 million shares at a price range of Rs 2,859.58 to Rs 2,963.30. It must be noted that as of end-September, Bain Capital held about 11.5 million shares in Hero MotoCorp, which is about 5.77% of the company's total equity.

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