Sensex up over 300 pts, midcaps underperform; IT zooms, ONGC dips

Benchmark indices regained strength in late trade on short covering, with the Sensex rising 318.20 points or 0.93 percent to 34,663.11.

The 50-share NSE Nifty rallied 83.50 points or 0.80 percent to 10,513.90.

Tata Motors, GAIL and ONGC fell 4-7 percent while TCS, Infosys, Axis Bank and Bharti Airtel gained up to 4 percent.

Nifty Midcap fell 70 points on weak market breadth. About 1,087 shares declined against 997 advancing shares on teh NSE.

REC, Jubilant Foodworks, Parag Milks Foods, Hexaware, KPIT Tech and L&T Infotech gained up to 5 percent.

United Spirits, Jet Airways, Bharat Forge and Motherson Sumi fell up to 6 percent.


HEADLINES OF THE DAY

20 Microns share price rallied 5 percent after March quarter profit jumped to Rs 3.4 crore from Rs 0.7 crore

The company has registered nearly 300 percent jump in its Q4 net profit at Rs 1,021 crore against Rs 260 crore in the same quarter last fiscal.

ONGC share price losses trimmed to 4.5 percent from 11 percent amid the news that the government may levy a windfall tax on oil producers.

Somany Ceramics share price fell 5 percent after its March quarter net profit declined 7.2 percent.

Manipal-TPG combine has said it has extended the validity of its modified offer for Fortis Healthcare to June 6, 2018.

Construction company NCC has reported healthy earnings for the March quarter 2018, backed by strong operational growth.

Aurobindo Pharma, Sun Pharma & Ajanta Pharma have received tentative approval for Tadalfil tablets that are used to treat arterial hypertension & erectile dysfunction.



UPCOMING RESULTS: - 
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