Market Now: Sensex, Nifty remain tiresome; Aurobindo Pharma cracks 3%

BSE Sensex is currently trading at a price to earnings ratio of 21.78 based on FY19 earnings while BSE IT index is available at 16.24 one-year forward PE

Heavyweights like SBI, M&M, Oil India, Nestle India, Allahabad Bank, BEML, Bank of India, BPCL, Bosch, DLF, Dena Bank, HSIL, Hindustan Copper, IL&FS Transportation among others are scheduled to report their quarterly earnings during the day.

At the close, the benchmark 30-share index, BSE Sensex added 63.63 or 0.19% at 33,314.56 with 15 components registering rise.

The BSE market breadth was slightly bearish - 1,286 declines and 1,210 advances.

In terms of the broader markets, the BSE mid-cap closed lower by 0.77 per cent and the small-cap index lost 0.96 per cent. Refiner Reliance Industries dropped 1.7 percent as oil prices held stable near two-year highs.

Among BSE sectoral indices, capital goods gained the most by 2.43 per cent, which was then followed by realty 1.68 per cent, infrastructure 0.97 per cent and consumer durables 0.88 per cent. The week has been a disappointing one for the investors as the Street flattered to deceive them.

IT and teck sector indices ended in the green.

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"Additionally, FIIs (foreign institutional investors) are gradually turning positive to domestic market due to supportive government reforms".

On the currency front, the rupee weakened by 22-23 paise to close at 65.16-17 against the United States dollar from its previous close at 64.94.

Foreign portfolio investors (FPIs) net purchased shares worth Rs 461.47 crore Tuesday, as per provisional data.

Other laggards included Tata Motors, SBI, Lupin, ICICI Bank, RIL, Hero MotoCorp, NTPC, Dr Reddy's, HDFC, ONGC, Adani Ports, Infosys, Kotak Bank, Wipro, Tata Steel and ITC, falling up to 2.35 per cent.

Major Sensex gainers Wednesday were: Axis Bank, up 3.41 per cent at Rs 545.05; Asian Paints, up 2.51 per cent at Rs 1,170.95; Cipla, up 2.07 per cent at Rs 620.95; Sun Pharma, up 1.89 per cent at Rs 537.80; and Bajaj Auto, up 0.97 per cent at Rs 3,194.

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