Sensex up 241 pts, Nifty fails to hold 10,700; IT stocks correct on rupee gain

Benchmark indices closed higher for third consecutive session, following sharp fall in crude oil prices and recovery in rupee.

The 30-share BSE Sensex rose 240.61 points to 35,165.48 and the 50-share NSE Nifty gained 83.50 points at 10,688.70.

BPCL, HPCL, GAIL, Sun Pharma, Lupin, Indiabulls Housing Finance, L&T, Maruti and SBI gained 2-6 percent.

Tech Mahindra plunged 4 percent despite strong earnings. TCS, HCL Technologies and Infosys were down 1-2 percent.

Just Dial rallied 20 percent.

OBC, Jet Airways, GVK Power, PNB, GNA Axles and Subros rose up to 8 percent while PC Jeweller, Power Grid and IFCI fell up to 7 percent.

HEADLINES OF THE DAY

Auto air conditioning manufacturing company Subros has reported healthy earnings for the quarter ended March 2018 as profit more than doubled.

GSS Infotech has posted a profit at Rs 4.1 crore for the quarter ended March 2018.

Country's largest power generation company NTPC has reported a 41 percent growth year-on-year in profit at Rs 2,926 crore for the quarter.

Vascon Engineers share price rallied sharply after its March quarter profit more than doubled to Rs 5.9 crore from Rs 2.6 crore.

SpiceJet is locked at 20 percent upper circuit following correction in oil prices.

Burnpur Cement share price is locked at 5 percent upper circuit after the company narrowed its losses.


UPCOMING RESULTS: -
                                                 ORIENTAL CARBON, DILIP BUILDCON, SAGAR CEMENT, M&M, GODFRY PHILIPS, IPCA LABS, SIYARAM SILK, GLENMARK, PUNJAB CHEMICALS, SUNDARAM BRAKE, DECCAN CEMENT, BAJAJ HEALTHCARE, BPCL, ARROW GREEN TECH. DCM SHRIRAM

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