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Nifty closes Day 1 of July series above 10,700, Sensex zooms 386 points on global cues

The 30-share BSE Sensex rallied 305.42 points or 0.87 percent to 35,343.06 and the 50-share NSE Nifty rose 96.80 points or 0.91 percent to 10,685.90. About three shares advanced for every share falling on the BSE.

The Nifty Midcap continued to trade higher by more than a percent.

The 50-share NSE Nifty reclaimed 10,700 levels, rising 116.30 points or 1.10 percent to 10,705.40 while all sectoral indices traded in the green.

The Nifty Midcap index rose 1.6 percent. About 1,721 shares advanced against 715 declining shares on the BSE.


NTPC has acquired 27.36 percent equity of Bihar State Power Generation Co (BSPGCL) in Kanti Bijlee Utpadan Nigam (KBUN) which owns 610 MW Muzaffarpur Thermal Power Station and 50 percent equity of BSPGCL in Nabinagar Power Generating Company (NPGC) which is developing 1980 MW Nabinagar Super Thermal Power Project in district Aurangabad, Bihar.

Shares of IDBI Bank gained 12 percent as company clarified about LIC planning to inject Rs 13,000 crore in the company.

Shares of Mangalore Refinery and Petrochemicals (MRPL) added 4 percent ahead of board meeting to consider preferential issue of shares.

Cyient Solutions & Systems, a subsidiary of Cyient has been granted Industrial License for the manufacture, assembly, integration, testing, maintenance, repair and overhaul of unmanned aerial systems, PODS, control systems, power plants, accessories and parts thereof formilitary use, by the DIPP, Ministry of Commerce & Industry.

The crucial resistance for Nifty spot is now seen at 10790 and above this 10840. Support for the immediate term is now placed at 10550 next support will be 10410.

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