Published: Sat, November 11, 2017
Global | By Shelia Dennis

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


Index heavyweights like the State Bank of India (SBI), Larsen and Toubro (LT), Hindustan Unilever (HUL) and Mahindra and Mahindra (M&M) among others aided in the upward trajectory of the key indices.

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.

"Additionally, continuous negative observations by USFDA on high quality Indian pharma companies are leading to a downgrade for the sector", said Vinod Nair, Head of Research, Geojit Financial Services Ltd.

The BSE market breadth was slightly bearish - 1,286 declines and 1,210 advances. Wall Street rose overnight, with all three major indices - Dow Jones industrial averabe, S&P 500 and Nasdaq Composite - closing at record highs.

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Asian Paint and Reliance Industries also dropped by 1.78 per cent, dragging the index into the negative zone.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.1 per cent while Japan's Nikkei lost 1.0 per cent. MSCI's all-country equity index posted its first daily loss in more than two weeks on Thursday, ending its longest daily winning streak since 2003.

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

A weakening rupee, which depreciated by 39 paise to 65.07 against the dollar during the day, too dampened investor sentiment.

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Provisional data with the exchanges showed that on Tuesday, FIIs invested in scrips worth Rs 461.47 crore.

Nearly half of the stocks traded in green with Axis Bank, Asian Paints, Cipla and Sun Pharma posting gains to the tune of 3.41%, 2.51%, 2.07% and 1.89%, respectively.

Major Sensex losers were: Bharti Airtel, down 3.73 per cent at Rs 495.15; Tata Motors, down 2.92 per cent at Rs 438.70; SBI, down 2.35 per cent at Rs 309.75; Lupin, down 2.09 per cent at Rs 842.55; and ICICI Bank, down 2.05 per cent at Rs 305.80.

China's October exports and imports growth slowed
The trade surplus swelled to $US38.17 billion, up from $US28.47 billion in September but below the $US39.5 billion level expected. Following is a breakdown of China's exports and imports with its biggest trade partners in October.

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