Sensex Trades Higher; IT & Pharma Stocks Gain

Share markets in India are presently trading on a positive note. Sectoral indices are trading mixed with stocks in the energy sectorIT sector and healthcare sector witnessing maximum buying interest while telecom stocks and<realty stocks are witnessing selling pressure.

The BSE Sensex is trading up by 242 points (up 0.7%), while the NSE Nifty is trading up by 60 points (up 0.6%). The BSE Mid Cap index is trading on a flat note and the BSE Small Cap index is trading down by 0.3%.

The rupee is trading at Rs 71.39 against the US$.

Extending its fall, the rupee opened lower by 18 paise at 71.36 against the US$.

Rupee fell in the latter half of the session on Friday primarily as global crude oil prices continued to rally after supply cuts led by OPEC supported prices.

Last week, OPEC's monthly report showed it had made a strong start in December before the pact went into effect, implementing the biggest month-on-month production drop in almost two years.

In the news from the IT sectorWipro share price is witnessing selling pressure today as the company lowered margin guidance for its IT services business in the range of $2,047 million to $2,088 million for the March quarter, which translates into a flat 2% sequential growth.

The IT company on Friday posted a strong 31.8% YoY jump in its consolidated net profit at 25.4 billion and announced a 1:3 bonus share offer.

Wipro share price is presently trading down by 2.5%.

To know more about the company, you can read Wipro Q3FY19 Result Analysis and Wipro Annual Report Analysis on our website.

You can also read our recently released Q3FY19 results: Zee Entertainment's latest result analysisReliance IndustriesFederal BankInfosysTCSTridentHDFC bankNIIT TechnologiesCyient.

Moving on to the news from the engineering sectorL&T share price is in focus today as the markets regulator denied approval to the company's Rs 90 billion share buyback plan.

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Disclosure: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. ...

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