Nifty eyes 8000 on expiry day, Sensex strong; Cap Goods up 6%
The market continues to rise on May Futures & Options expiry day with support from infra, auto and bank stocks. The Sensex is up 166.04 points or 0.6 percent at 26047.21, and the Nifty up 42.55 points or 0.5 percent at 7977.45. About 1054 shares have advanced, 633 shares declined, and 84 shares are unchanged.
L&T is still up 10 percent while BHEL, ONGC and Bajaj Auto are other gainers in the Sensex. NTPC, Sun Pharma, SBI, Wipro and Cipla are losers in the Sensex. Capital Goods index is up 6 percent.
The Indian rupee has witnessed a moderate volatility so far this year and its movement towards Rs 68-69 during the year looks likely, it said. The volatility (on annualised monthly basis) has been really high for some of the currencies such as those of Argentina, Russia, South Africa, Brazil, Australia and Mexico.
Major Headlines of the day:
Bajaj Auto net up on bike sales growth
Ashok Leyland profit hits a speed bump
L&T profit rises 19%, beats Street estimates
Trend in FII flows:The FIIs were net sellers of Rs -495.08 Cr in the cash segment on Wednesday while the DIIs were net buyers of Rs 337.25 Cr, as per the provisional figures.