Sensex up 416 pts, Nifty ends May series above 10,700; HDFC Bank leads

Benchmark indices closed sharply higher on the day of expiry of May futures & options contracts. Positive global cues on easing Italy political concerns and the rally in HDFC Bank lifted market sentiment.

The 30-share BSE Sensex rose 416.27 points or 1.19 percent to 35,322.38 and the 50-share NSE Nifty gained 121.80 points or 1.15 percent at 10,736.20 while Nifty Midcap index was down 0.4 percent.

About 1,643 shares declined against 994 advancing shares on the BSE.

Atlanta, Manpasand Beverages, Leel Electricals, Dilip Buildcon, Bombay Dyeing, Suzlon Energy, Hathway Cable, Hindustan Copper, Vakrangee and PC Jeweller were down 5-20 percent.

Avenue Supermarts, NIIT Technologies, KPIT Technologies, Capital First, M&M Financial and Torrent Power gained up to 3 percent.


HEADLINES OF THE DAY

NCC has bagged the package three of Mumbai-Nagpur expressway contract.

Sadbhav Engineering has been declared the successful bidder in respect of the bid invited by Maharashtra State Road Development Corporation.

Infibeam Incorporation's March quarter profit grew by 53 percent to Rs 20.8 crore while revenue from operations jumped 98 percent to Rs 239.5 crore.

IOC most profitable PSU for 2nd year in a row; displaces ONGC.

IIFL Asset Management announced the launch of an alternative investment fund.

Pharma major Lupin has launched Solosec (secnidazole) 2g oral granules in the US market.

Shares of Manpasand Beverages plunged 10 percent to hit their lower circuit limit for the fourth consecutive session.


NIFTY RESISTANCE AND SUPPORT

The NIFTY will now have Resistance 10825 after that next resistance will be 10920. The support for nifty will be 10700 and next support for nifty will be 10620.

BANK NIFTY RESISTANCE AND SUPPORT

The BANK NIFTY will now have Resistance 27200 after that next resistance will be 27520. The support for nifty will be 26640 and next support for nifty will be 26300.

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