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Sensex Down; Bharti Airtel, Idea, Fall

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The Sensex is trading down around 0.1 pct. Bharti Airtel falls 2.05 per cent, while Idea down 1.2 per cent after the Telecom Commission recommended mobile phone carriers give up all their airwave holding in the 900 mega hertz band at the time of their permit renewals. The move is opposed by the wireless industry which says it will cost about $24 billion more in capital outlay.

Asian shares gain to a seven-month high as a slew of Chinese data pointed to stabilisation in the world's second largest economy, and positive US housing data helped ease worries about a sharper slowdown in global growth. Ahead of earnings, cement makers gain: ACC up 1.4 per cent while Ambuja Cement up 1.65 per cent, had fallen on concerns over outcome of earnings and outlook. Mphasis falls 2.06 per cent and Piramal Enterprises falls 0.33 per cent after NSE said it will exclude both from trading in its derivatives segment.

(Reuters)