Sensex gains 280 pts, Nifty ends above 10,750; Metal, IT gain

The benchmark indices ended on positive note but off day's high on the back of selling pressure seen in the last hour of trading.

The Sensex up 284.20 points at 35463.08, and the Nifty up 83.70 points at 10768.40.

All the sectoral indices ended in positive territory with a gain of 0.5-1.5 percent gain.

Tata Steel, Tata Motors, ICICI Bank, Axis Bank, Wipro, Indiabulls housing and Asian Paints are the top gained in the indices.


HEADLINES OF THE DAY

Shares of Lemon Tree Hotels gained 2 percent as company signed license agreement for 104 room property at Gwalior.

HT Media has approved the proposal to invest an amount up to Rs 400 crore in one or more tranches, in its wholly-owned subsidiary company namely, HT Music and Entertainment Company to fund expansion/ growth opportunities in its FM Radio business vertical.

Shares of Kwality touched 52-week low of Rs 31.65, locked at 5 percent lower circuit despite company meeting to consider buyback proposal.

Shares of Videocon were locked in 5 percent lower circuit on Thursday as investors reacted to the news of insolvency proceedings being initiated on the firm.

Tata Motors JLR May retail sales jumped 6.1 percent to 48,281 units.

Shares of Goldstone Infratech locked at 5 percent upper circuit as company has launched its new electric feeder bus eBuzz k6.


NIFTY RESISTANCE AND SUPPORT

The NIFTY will now have Resistance 10875 after that next resistance will be 10920. The support for nifty will be 10640 and next support for nifty will be 10585.
BANK NIFTY RESISTANCE AND SUPPORT

The BANK NIFTY will now have Resistance 26900 after that next resistance will be 27060. The support for nifty will be 26380 and next support for nifty will be 26240.

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