Sensex up 82 points; auto stocks vroom on normal monsoon forecast

The monsoon delivers about 70 per cent of India's annual rainfall and is a critical factor as almost half of the country's farmland lacks irrigation. The 50-share NSE Nifty also dipped under selling pressure in the last half hour of trade and closed 12 points higher. The banking index and the midcaps also more or less replicated the benchmark indices. Market breadth remained negative as 1583 stocks closed in the negative, 1,247 stocks finished higher and 162 remained unchanged.

So above 9370 maintain long-positions.

The gauge had gained 74.45 points in the previous two sessions.

The stock markets in the United States have so far put in a mixed performance owing to the abrupt dismissal of the Federal Bureau of Investigation chief and other factors.

The total turnover on BSE amounted to Rs 4,031.10 crore, higher than Rs 3,625.49 crore registered during the previous trading session.

In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold stocks worth Rs 542.47 crore while domestic institutional investors (DIIs) purchased scrips worth Rs 663.33 crore.

European shares pulled back on Wednesday from 21-month highs hit after strong earnings while the dollar fell on concerns that US President Donald Trump's dismissal of his Federal Bureau of Investigation chief could make passage of his tax reform plans more hard.

The FMCG index and pharmaceutical stocks made marginal gains, while the IT index dropped by 0.5%.

Among the sectoral indices, consumer durables rose 1.65 percent, auto 0.98 percent, metal 0.69 percent, teck 0.57 percent, healthcare 0.55 percent and IT 0.29 percent.

HCL Technologies, a constituent of the Nifty, fell 0.4% to 838.65 rupees.

Shanghai Composite Index, however, was down 0.25 per cent.

Zee Entertainment Enterprises jumped 5.7% to 545.35 rupees, taking its two-day gains to almost 10%. Hong Kong's Hang Seng rose 0.36 per cent, while Japan's Nikkei shed 0.26 per cent in early trade. ONGC, Cipla, Axis Bank, ITC, Adani Ports, State Bank of India, ICICI Bank, HDFC Bank, Dr Reddy's Laboratories and Sun Pharmaceutical Industries are up 0.5% - 1%.

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