- The key Indian stock indices (Sensex and Nifty) declined on the day by around 0.5-0.6% due to losses in IT, oil & gas, and FMCG stocks, as well as ongoing F&O expiry. - Asian markets were trading higher in morning hours, ahead of the US fiscal cliff negotiations. - The EGoM on spectrum is expected to meet next week to discuss details of upcoming spectrum auctions.