Last hour surge helps Sensex close 300 points higher, Nifty just below 10,950

Market Update Benchmarks have extended gains in the last hour of trade. The Sensex is up over 300 points, while the Nifty is advancing towards 10,950.

The Sensex is up 304.78 points or 0.85% at 36239.50, while the Nifty is up 96.30 points 

or 0.89% at 10949.20. The market breadth is positive as 1606 shares advanced, against a decline of 931 shares, while 133 shares are unchanged.

Oil stocks were the biggest boost to the index, up 0.9 percent as crude prices climbed on concerns over potential supply shortages.

HEADLINES OF THE DAY

Shares of Petronet LNG gained over 1.5 percent intraday on Tuesday as Deutsche Bank maintained a buy call on the stock with a target of Rs 310.

Results Private sector lender, IndusInd Bank, has reported a net profit of Rs 1,035.7 crore for the quarter ended on June 30, 2018. The profit has risen 24 percent from Rs 836.5 

crore that it posted during the quarter last year.

Nava Bharat Ventures share price rallied more than 5 percent intraday on Tuesday after the company expects strong profits from its Zambia project.

  The crucial resistance for Nifty spot is now seen at 11100 and above this 10960. Support for the immediate term is now placed at 10700 next support will be 10640.

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