Asian indices are lower today as crude oil futures steadied and market participants awaited cues from major central banks. The Shanghai Composite is off 0.17% while the Hang Seng is down 0.24%. The Nikkei 225 is trading down by 0.26%. Overnight, the US stocks closed higher amid growing optimism that Republican lawmakers would be able to revamp the corporate tax system.

Back home, India share markets have opened the day marginally lower after India suffered a macroeconomic setback with retail inflation unexpectedly accelerating to a 15-month high. The BSE Sensex is trading lower by 56 points while the NSE Nifty is trading lower by 14 points. The BSE Mid Cap index opened down by 0.1% while BSE Small Cap index opened the day up by 0.1%.

Sectoral indices have opened the day on a mixed note with bank stocks and FMCG stocks witnessing maximum selling pressure. While, consumer durables stocks and healthcare stocks leading the gains. The rupee is trading at 64.48 to the US$.

Meanwhile, Virtual currency bitcoin hit another all-time peak on Tuesday, two days after the launch of the first ever bitcoin futures on a US exchange and ahead of the start of another futures contract next week, as investors grew optimistic that the US$20,000-mark is within reach.

Telecom stocks opened the day on a mixed note with GTL and ITI Ltd leading the losses. As per an article in a leading financial daily, Warburg Pincus, a global private equity firm focused on growth investing will acquire up to a 20% equity stake in Bharti Telemedia Limited, the DTH arm of Airtel, for around US$350 million.

Of this, 15% stake will be sold by Bharti Airtel and the balance by another Bharti entity which holds 5% stake.

Upon closing of the transaction, Airtel will own an 80% equity stake in Bharti Telemedia Limited. The proceeds will be used to fund growth plans as the company looks to strengthen its hold in the country’s DTH market, which is in the midst of consolidation.

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