Nifty ends June F&O series tad below 8400, Sensex up 166pts

After consolidation, the market ended with gains. The Nifty closed June F&O series tad below 8400-level. The 50-share index was up 37.15 points or 0.4 percent at 8398 while the Sensex jumped 166.30 points or 0.6 percent at 27895.97.Bajaj Auto gained 5 percent and L&T was up 4 percent. GAIL and HDFC twins were other gainers in the Sensex. Among the losers were Wipro, HUL, ONGC, Cipla and TCS .
On the currency front, the Indian rupee has marginally strengthened against the greenback to 63.56 levels against its previous close at 63.59 levels.
According to media reports, Bajaj Auto is set to launch two new motorcycles by FY17. The stock has surged more than 4% on the Sensex and is the highest gainer.
Shares of GMR Infra surged 10 percent intraday as it is looking to refinance its long-standing debt. According to media reports, GMR Infrastructure has asked for refinance under the Reserve Bank of India’s (RBI) 5/25 scheme for loans.
Vedanta has jumped over 3% after the company along with Cairn India initiated the merger process by filing the scheme of arrangement along with the relevant documents with the stock exchanges. Cairn India is up by 3.3%.
From the capital goods pack, L&T has added more than 1.6% while BHEL has extended its gains and was up 1%. The PSU engineering major on Tuesday said that it has commissioned a 250-MW unit of NTPC's Bongaigaon thermal power plant in the Kokrajhar district in Assam.
Financials have also witnessed some buying with SBI, HDFC twins, Axis Bank have all added between 0.3- 2% each on the Sensex
From the IT space, Infosys has added 0.7% on the Sensex. Reports suggest that it could soon become the most influential stock on the Nifty, Sensex and MSCI Index after SEBI said that existing promoters may be reclassified as public if a company becomes professionally managed and does not have any identifiable promoter.
TCS has gained around 0.2% while Wipro has lost over 1%.
Among other notable gainers, Reliance Inds, Hindalco, Dr. Reddy’s, and Hero Motocorp have registered a gain of 1-2% each on the Sensex.

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