Key benchmark indices logged modest gains in a steady session of trade as global stocks rose as the panic surrounding a potential global trade war showed signs of easing. The barometer index, the S&P BSE Sensex, gained 260.59 points or 0.74% to settle at 35,547.33. The Nifty 50 index rose 61.60 points or 0.58% to settle at 10,772.05. Domestic stocks snapped their two-day losing streak led by gains in index heavyweights Reliance Industries (RIL), HDFC Bank and HDFC.

After opening higher, key indices pared gains in morning trade. Indices firmed up once again in mid-morning trade and hit fresh intraday high in late trade.

The barometer index, the S&P BSE Sensex, gained 260.59 points or 0.74% to settle at 35,547.33. The Sensex rose 284.63 points, or 0.81% at the day's high of 35,571.37 in late trade. The index rose 42.77 points, or 0.12% at the day's low of 35,329.51 in morning trade.

The Nifty 50 index rose 61.60 points or 0.58% to settle at 10,772.05. The Nifty rose 71.35 points, or 0.67% at the day's high of 10,781.80 in late trade. The index rose 13.60 points, or 0.13% at the day's low of 10,724.05 in morning trade.

Among secondary barometers, the BSE Mid-Cap index rose 0.23%. The BSE Small-Cap index rose 0.27%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was just about negative. On BSE, 1,309 shares rose and 1,314 shares fell. A total of 142 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Metal index (up 1.09%), the S&P BSE Bankex (up 1.04%), the S&P BSE Realty index (up 0.83%) outperformed the Sensex. The S&P BSE FMCG index (down 0.36%), the S&P BSE Capital Goods index (down 0.28%), the S&P BSE Oil & Gas index (down 0.27%) underperformed the Sensex.

IndusInd Bank (up 2.27%), Yes Bank (up 1.66%), Kotak Mahindra Bank (up 1.58%), and HDFC Bank (up 1.5%) were the top Sensex gainers.

ONGC (down 1.24%), Coal India (down 0.92%), ITC (down 0.9%), Wipro (down 0.71%) and Larsen & Toubro (down 0.54%) were the major Sensex losers.

Index heavyweight Reliance Industries (RIL) gained 2.44% to Rs 1,019.95.

Index heavyweight and housing finance major HDFC rose 1.25% to Rs 1,849.50.

Metal shares rose. Jindal Steel & Power (up 3.48%), JSW Steel (up 2.38%), NMDC (up 1.3%), Hindustan Copper (up 0.07%), Steel Authority of India (up 1.44%), Tata Steel (up 1.52%), Hindalco Industries (up 0.31%) and Vedanta (up 2.1%) edged higher. National Aluminium Company (down 3.37%) and Hindustan Zinc (down 0.37%) fell.

Infosys shed 0.06%. The company announced that it has strengthened its footprint in France by establishing a Digital Center of Excellence in Marseille. The move is part of Infosys' efforts to bring its digital offerings to companies in France as they navigate the next stage in their business journey. In addition, the center will also deliver on a strategic seven-year partnership with CMA CGM Group the world leading container shipping organisation. This partnership was announced in September 2017 to simplify and transform the group's IT applications and improve customer service experience. The announcement was made after market hours yesterday, 19 June 2018.

Cipla gained 0.22%. The company announced that it has received final approval for its Abbreviated New Drug Application (ANDA) for Efavirenz Tablets 600mg from the United States Food and Drug Administration (US FDA). Cipla's Efavirenz Tablets 600 mg is AB-rated generic therapeutic equivalent version of Bristol-Myers Squibb Pharma Company's, Sustiva. It is indicated in combination with other antiretroviral agents for the treatment of human immunodeficiency virus type 1 infection in adults and in pediatric patients at least 3 months old and weighing at least 3.5 kg. The announcement was made after market hours yesterday, 19 June 2018.

According to IQVIA (IMS Health), Sustiva and its generic equivalents had US sales of approximately $105 million for the 12-month period ended April 2018. The product is available for shipping immediately.

Bhel rose 0.67%. The company announced during trading hours today, 20 June 2018, that it has bagged two major orders for emission control equipment from Telangana State Power Generation Corporation (TSGENCO). Valued at Rs 1000 crore, the orders involve supply and installation of Flue Gas Desulphurization (FGD) systems for control of SOx emissions at TSGENCO's 1x800 MW Kothagudem Thermal Power Station (TPS) and 4x270 MW Bhadradri TPS in Telangana.

The order for Bhadradri TPS also includes modification in Boiler and ElectroStatic Precipitators (ESPs) to meet the revised emission norms. Bhel is presently executing these projects on engineering, procurement, construction (EPC) basis.

Wheels India surged 7.71%. The company said that the board of directors of the company may consider issue of bonus shares in its board meeting scheduled to be held on 22 June 2018. The announcement was made after market hours yesterday, 19 June 2018.

Unichem Laboratories gained 4.92%. Unichem Laboratories has entered into a settlement agreement with Eli Lilly & Company and ICOS Corporation to resolve their patent litigation in the United States District Court for the District of New Jersey regarding Unichem's Abbreviated New Drug Application for generic tadalafil (Cialis). Under the settlement agreement, Unichem expects to launch its generic tadalafil product in the United States on or not before 26 March , 2019 under certain circumstances. The announcement was made during market hours today, 20 June 2018.

Sharda Cropchem rose 1.54% after the company scheduled a board meeting on 25 June 2018 to consider fund raising by way of issuance of equity shares or equity linked securities such as warrants, convertible securities, global depository receipt or American depository receipts or foreign currency convertible bonds including but not limited to through preferential issue and / or qualified institutions placement or through any other permissible mode and / or combination thereof. The announcement was made after market hours yesterday, 19 June 2018.

Sadbhav Infrastructure Project advanced 3.51%. Sadbhav Infrastructure Project has signed a maintenance contract with Sadbhav Jodhpur Ring Road, a wholly owned subsidiary, worth Rs 55 crore for maintenance and repairs works during the development period and construction period. The announcement was made after market hours yesterday, 19 June 2018.

Sadbhav Jodhpur Ring Road has undertaken the project for four laning of Dangiywas to Jajiwal of NH-65 Nagaur Road of Jodhpur Ring Road in Rajasthan under NHDP Phase-VII.

On the political front, President Ram Nath Kovind approved the imposition of governor's rule in Jammu and Kashmir, a day after the BJP pulled out of its alliance with the Peoples Democratic Party (PDP) in Jammu and Kashmir. Following the President's approval, governor NN Vohra will be presiding over the state.

Overseas, European stocks rose as markets awaited the next development in the trade dispute between the US and China, whose central bank called for investors to remain calm. China's central bank Governor, Yi Gang, reportedly pledged late Tuesday to use monetary policy comprehensively and said policy makers are prepared for outside shocks.

Asian stocks bounced back due to bargain hunting after sharp losses made in the previous session. US stocks declined on Tuesday, as investors sold stocks following President Donald Trump's late-Monday threat to slap an additional $400 billion in tariffs on China goods. The announcement represented the latest escalation in a dispute between the two largest economies in the world, rattling investors.

After Beijing's retaliation against US planned tariffs on $50 billion worth of Chinese imports, Trump asked US Trade Representative Robert Lighthizer late Monday to identify $200 billion more in Chinese products that could be subject to tariffs of 10%. The US president also threatened to find $200 billion more worth of goods if China tried to retaliate against those additional tariffs.

A spokesperson from China's Ministry of Commerce reportedly said China will have no choice but to take comprehensive measures in response to the US's trade moves

On the US data front, Housing starts ran at a seasonally adjusted annual 1.35 million annual rate in May, the Commerce Department said Tuesday. Permits were at a 1.3 million seasonally adjusted annual rate.

Domestic stocks finished with modest losses due to weak global cues as the trade spat between the US and China intensified. The barometer index, the S&P BSE Sensex, lost 261.52 points or 0.74% to settle at 35,286.74. The Nifty 50 index fell 89.40 points or 0.83% to settle at 10,710.45. Unabated capital outflows by foreign funds too dampened sentiment.

Metal and mining stocks dropped as copper prices declined sharply in global commodity markets. Realty stocks declined. Shares of index heavyweight Reliance Industries dropped.

The market opened almost flat and turned weak as the session progressed. Indices hit fresh intraday low in afternoon trade. Market pared losses in mid-afternoon trade as bargain hunting emerged at lower levels. Indices hit fresh intraday low in late trade as selling picked up pace.

The barometer index, the S&P BSE Sensex, lost 261.52 points or 0.74% to settle at 35,286.74, its lowest closing level since 6 June 2018. The Sensex rose 4.21 points, or 0.01% at the day's high of 35,552.47 in early trade. The index fell 299.20 points, or 0.84% at the day's low of 35,249.06 in late trade.

The Nifty 50 index fell 89.40 points or 0.83% to settle at 10,710.45, its lowest closing level since 6 June 2018. The Nifty fell 10.40 points, or 0.10% at the day's high of 10,789.45 in early trade. The index fell 98.65 points, or 0.91% at the day's low of 10,701.20 in late trade.

Broader market witnessed selling pressure. Among secondary barometers, the BSE Mid-Cap index fell 0.98%. The BSE Small-Cap index fell 1.29%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was weak. On BSE, 703 shares rose and 1923 shares fell. A total of 151 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE FMCG index (down 0.3%), the S&P BSE Healthcare index (down 0.59%), the S&P BSE Bankex (down 0.64%) outperformed the Sensex. The S&P BSE Metal index (down 1.69%), the S&P BSE Realty index (down 1.33%), the S&P BSE Oil & Gas index (down 1.22%) underperformed the Sensex.

Adani Ports and Special Economic Zone (down 2%), Reliance Industries (down 1.91%), IndusInd Bank (down 1.9%), Sun Pharmaceutical Industries (down 1.88%) and Bajaj Auto (down 1.81%) were the major Sensex losers.

ITC (up 0.76%), ONGC (up 0.3%), HDFC Bank (up 0.2%) and HDFC (up 0.11%) edged higher from the Sensex pack.

Metal and mining stocks dropped as copper prices declined sharply in global commodity markets.

Steel Authority of India (Sail) (down 4.26%), JSW Steel (down 0.06%), Tata Steel (down 0.83%), Hindustan Zinc (down 0.62%), Jindal Steel & Power (down 3.05%), Hindalco Industries (down 2.38%), NMDC (down 3.92%) and Hindustan Copper (down 1.63%) edged lower. National Aluminium Company (up 1.16%) rose.

Copper edged lower in the global commodities market. High Grade Copper for July 2018 delivery was currently off 1.5% at $3.0605 per pound on the COMEX.

Vedanta fell 3.55%. With reference to a news item titled, Vedanta faces another Sterlite like crisis in Orissa, the company clarified during trading hours today, 19 June 2018, that, on 5 June 2018, few people had assembled at Lanjigarh market-place to observe World Environment Day and to deliberate their concern about environment. Close to 300 people including tribals who had gathered out of curiosity, dispersed in less than two hours and the entire program got over peacefully. The media covered this event on 13/14th June 2018, nine days after the event. The company added that its refinery continues to operate as usual. It has not mined any bauxite from Niyamgiri. The company observed a week-long celebration of World Environment Day with the local community.

A massive community plantation programme was held in peripheral villages and township areas together with participation of villagers in large numbers. A foundation stone was also laid for 'Nandghar' project - a modernized Anganwadi centre - at a nearby village. The company's Community Development wing along with the District Administration helped achieve 'Open Defecation Free' ODF status in four nearby villages. The company is committed to overall environment development in a holistic manner.

ICICI Bank fell 0.17%. The board of directors of ICICI Bank has at its meeting decided to appoint Sandeep Bakhshi, as Wholetime Director & Chief Operating Officer designate, ICICI Bank. His appointment as COO will be for a period of five years, subject to regulatory approvals. He will take over as the COO from 19 June 2018, or on the date of regulatory and other approvals, whichever is later.

In line with the highest levels of governance and corporate standards, Ms. Chanda Kochhar has decided to go on leave till the completion of the enquiry as announced on 30 May 2018. The board has noted and accepted this. During her period of leave, the COO will report to the Board. The announcement was made after market hours yesterday, 18 June 2018.

IT major Tata Consultancy Services (TCS) shed 0.26%. The company opened its new delivery center in Suresnes, France. The delivery center, which is located in the Parisian region, can accommodate up to 230 employees and benefits from highly secure connectivity, a robust infrastructure and secure spaces, guaranteeing the best quality service and productivity for customers. The announcement was made after market hours yesterday, 18 June 2018.

Auto major M&M lost 1.94%. The company has received an intimation that Gipp Aero Investments Pty (GAI) and Aerostaff Australia Pty (AA), step down subsidiaries of the company, have been voluntarily deregistered by the Australian Securities & Investments Commission with effect from 16 May 2018. By virtue of the deregistration, GAI and AA have ceased to be subsidiaries of Mahindra Aerospace Australia Pty., Australia and in turn of Mahindra Aerospace, step down subsidiaries of the company and in turn of the company. The announcement was made after market hours yesterday, 18 June 2018.

Realty stocks declined. Indiabulls Real Estate (down 3.12%), DLF (down 1.75%), Housing Development and Infrastructure (down 3.1%), D B Realty (down 2.94%), Unitech (down 0.89%), Godrej Properties (down 2.62%), Prestige Estates Projects (down 0.63%) and Oberoi Realty (down 0.75%) fell. Sobha (up 0.7%) rose.

Cadila Healthcare rose 1.83%. Zydus Cadila has received the tentative approval from the USFDA to market Tadalafil Tablets USP, 2.5 mg, 5 mg, 10 mg and 20 mg. It is used to treat erectile dysfunction (impotence) and symptoms of benign prostatic hypertrophy (enlarged prostate). It will be manufactured at the group's manufacturing facility at Moraiya, Ahmedabad. The announcement was made during market hours today, 19 June 2018.

Strides Shasun rose 1.68%. The company announced before trading hours today, 19 June 2018, that its wholly owned subsidiary Strides Pharma Global Pte. Ltd. has received final approval for Ketoconazole Tablets USP, 200 mg from the United States Food & Drug Administration (US FDA). Ketoconazole Tablets is a generic version of Nizoral Tablets, 200 mg, of Janssen Pharmaceuticals, Inc. Ketoconazole Tablet is part of the niche and small volume product portfolio with limited competition in the US market.

As per IQVIA MAT April 2018 data, the US market for Ketoconazole Tablets was approximately $7 million. The product will be manufactured at the company's Oral dosage facility at Bangalore and will be marketed by Strides Pharma Inc. in the US Market. The company has 75 cumulative ANDA filings with USFDA of which 49 ANDAs have been approved as of date and 26 are pending approval.

Glenmark Pharmaceuticals gained 0.65%. The company announced before trading hours today, 19 June 2018, that the US Food & Drug Administration provided its first supplemental Abbreviated New Drug Application (sANDA) approval for the company's manufacturing facility in Monroe, North Carolina. The approval covers: Atovaquone and Proguanil Hydrochloride Tablets, 250 MG/100 MG and 62.5 MG/25 MG, a generic version of GlaxoSmithKline's Malarone (atovaquone and proguanil hydrochloride) Tablets.

On the political front, Bharatiya Janata Party (BJP) has pulled out of its alliance with Mehbooba Mufti's People's Democratic Party (PDP) in Jammu and Kashmir. The BJP is the second largest party in the State Assembly with 25 members. Speaking at a press conference in New Delhi, BJP's vice president and general secretary Ram Madhav reportedly said that it had become untenable for the BJP to continue with the alliance government in Jammu and Kashmir. Madhav reportedly added that the party took the decision after discussing with the state unit and the ministers. The ministers will resign from the cabinet and the legislators will convey the decision to the Governor soon, Madhav said. The support of 45 members are needed for Mehbooba Mufti to continue as Chief Minister, while the PDP has only 25 MLAs.

Overseas, European and Asian stocks edged lower after US President Donald Trump fired a fresh salvo in the ongoing trade spat between the US and China.

China's Shanghai Composite fell 3.78%. Trump said on Monday that he had asked the US Trade Representative to identify $200 billion worth of Chinese products that will be subject to additional tariffs of 10%. Those tariffs will take effect if China did not change its practices.

China's Commerce Ministry said on Tuesday morning that it will take counter measures if the US publishes an additional tariffs list. China will protect its interests, taking both quantitative and qualitative measures against the move.

Trump's Monday comments came after the US on Friday announced that it would impose a 25% tariff on up to $50 billion of Chinese products. Tariffs on an initial list of goods worth some $34 billion will kick in on 6 July. In response, China announced tariffs on the same total value of products, with duties on $34 billion of US goods expected to be implemented in July.

In US, the Dow Jones Industrial Average registered its fifth straight decline Monday, but stocks broadly managed to finish above session lows as gains in energy and technology shares helped to limit declines partly inspired by fears over trade tensions between the US and China.

On the US data front, the National Association of Home Builders' monthly confidence index fell two points to 68 in June, in part due to rising lumber costs.

On the Federal Reserve front, Atlanta Fed President Raphael Bostic said Monday at the Rotary Club of Savannah that the central bank still hasn't reached the so-called neutral rate — where policy is neither accommodative nor restrictive.

Key benchmark indices settled with small losses on first trading day of the week on negative global cues. The barometer index, the S&P BSE Sensex, fell 73.88 points or 0.21% to settle at 35,548.26. The Nifty 50 index fell 17.85 points or 0.17% to settle at 10,799.85. Shares from IT and metal sectors declined. Global stocks fell as US-China trade war intensified.

Risk appetite in the global market turned weak after US President Donald Trump cranked up trade tensions by going ahead with tariffs on Chinese imports, prompting Beijing to immediately respond in kind.

Among secondary barometers, the BSE Mid-Cap index fell 0.18%, outperforming the Sensex. The BSE Small-Cap index fell 0.77%, underperforming the Sensex.

The market breadth, indicating the overall health of the market, was weak. On BSE, 931 shares rose and 1710 shares fell. A total of 155 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Metal index (down 1.72%), the S&P BSE IT index (down 0.8%), the S&P BSE Teck index (down 0.73%) underperformed the Sensex. The S&P BSE Oil & Gas index (up 1.25%), the S&P BSE Auto index (up 0.33%), the S&P BSE Bankex (up 0.12%) outperformed the Sensex.

Kotak Mahindra Bank (down 1.97%), Bharti Airtel (down 1.67%), Coal India (down 1.59%), Axis Bank (down 1.33%) and Tata Steel (down 1.28%) were the major Sensex losers.

ICICI Bank (up 3.61%), Tata Motors (up 1.83%), Bajaj Auto (up 0.98%), Maruti Suzuki India (up 0.46%) and NTPC (up 0.42%) were the major Sensex gainers.

IT stocks declined. Infosys (down 1.09%), Wipro (down 0.34%), HCL Technologies (down 1.32%), TCS (down 0.58%), MindTree (down 1.32%) and Hexaware Technologies (down 1.84%) fell. Tech Mahindra (up 0.49%), Mphasis (up 1.38%) and Oracle Financial Services Software (up 1.34%) rose.

Dr. Reddy's Laboratories rose 1.24%. Dr. Reddy's Laboratories announced that following the launch of its generic Buprenorphine and Naloxone Sublingual Film in the US Market, the US District Court for the District of New Jersey has received and reviewed an emergency application from the plaintiffs in the current patent litigation for a temporary restraining order and preliminary injunction against Dr. Reddy's Laboratories. The announcement was made on Saturday, 16 June 2018.

Pending a hearing and decision on the injunction application, the court has issued a temporary restraining order against Dr. Reddy's with respect to further sales and commercialization of Buprenorphine and Naloxone Sublingual Film within the U.S. The court order does not include a prohibition on commercial manufacturing of the product. The plaintiffs will be required to post a bond or other security totaling $18 million (USO) to satisfy any losses or damages incurred by Dr. Reddy's during the period of the temporary restraining order. The court has scheduled an expedited hearing of the preliminary injunction for Thursday, June 28, and a ruling is expected soon thereafter. The proceeding only involves one patent. Dr. Reddy's remains confident in its legal positions on this patent and believes it will prevail on the issues raised with respect to the application for injunction.

Vedanta lost 2.7%. The S&P BSE Sensex was reconstituted today, 18 June 2018. As a part of the rejig, Vedanta replaced Dr Reddy's Laboratories in the Sensex pack.

Metal shares declined. Hindustan Zinc (down 2.3%), Jindal Steel & Power (down 1.96%), Hindalco Industries (down 2.63%), Hindustan Copper (down 1.12%), JSW Steel (down 1.38%), Tata Steel (down 1.28%), National Aluminium Company (down 0.58%) and NMDC (down 0.58%) edged lower. Steel Authority of India (up 1.58%) rose.

Lupin fell 0.89%. Lupin and Nichi-lko announced that the two companies have entered into an agreement for the distribution, promotion and sale of Lupin's recently-filed biosimilar Etanercept (YL5113) in Japan. Developed by YL Biologics, a joint venture between Lupin's subsidiary Lupin Atlantis Holdings SA (LAHSA) and Yoshindo, the product will be launched by Nichi-lko after receiving approval from the Pharmaceuticals and Medical Devices Agency (PMDA). The announcement was made during trading hours today, 18 June 2018.

Panacea Biotec rose 1.34%. Panacea Biotec along with its partner, Apotex Inc. and Apotex Corp. (Apotex) have entered into a settlement agreement dated 13 June 2018, with Celgene Corporation, a global biopharmaceutical company headquartered in USA and its subsidiary Abraxis BioScience, LLC, for settlement of disputes regarding patents covering Abraxane drug product and the company's Abbreviated New Drug Application (ANDA) for paclitaxel protein bound particles for injectable suspension, 100mg/vial, a generic version of Abraxane. The announcement was made after market hours on Friday, 15 June 2018.

Kanoria Chemicals & Industries rose 3.94%. The company is setting up a Formaldehyde plant with a capacity of 1,00,000 TPA at Naidupeta, District Nellore in Andhra Pradesh. The company has received the Environmental Clearance for the same from the Ministry of Environment, Forests & Climate Change, Government of India. The announcement was made after market hours on Friday, 15 June 2018.

PNC Infratech lost 3.83%. The company announced the decision of UP Government to re-invite bids for Purvanchal Expressway. The company has earlier informed on 24 May 2018 that it was declared as L1 (lowest) bidder for the 4th package of the Purvanchal Expressway Project on EPC basis for a quoted price of Rs 1738.44 crore, which now stands cancelled. The announcement was made after market hours on Friday, 15 June 2018.

Overseas, European and Asian shares fell as investors digested the escalation in trade tensions between the US and China after both countries announced tariffs last week. Markets in China, Hong Kong, Taiwan and Indonesia were closed on Monday for holidays.

Japan logged its first trade deficit in three months in May on a surge in imports of aircraft and aircraft engines from the United States, data from Japan's finance ministry showed Monday. Japan posted a trade deficit of 578.3 billion Yen in May.

Trump administration last week said it will impose a 25% tariff on a list of 818 items of Chinese goods worth around $34 billion beginning 6 July. Measures affecting an additional 284 products worth $16 billion will be subject to review before taking effect.

In response, China said a 25% tariff will be implemented on US goods, including soybeans and electric vehicles, worth $34 billion starting 6 July. Another list of US imports worth $16 billion will be subject to review before being applied.

US stocks ended lower on Friday, but well off the lows of the sessions as investors looked past signs of escalating Washington-Beijing trade tensions.

On the data front, the Empire State manufacturing survey rose 4.9 points in June to a reading of 25, the highest reading since October. Separately, manufacturing production declined 0.7% in May, while capacity utilization dropped to 77.9% from 78.1% in the previous month. Further, the University of Michigan's gauge of consumer sentiment rose to 99.3 in June.

Key benchmark indices logged small gains after a volatile session of trade. The barometer index, the S&P BSE Sensex, rose 22.32 points or 0.06% to settle at 35,622.14. The Nifty 50 index rose 9.65 points or 0.09% to settle at 10,817.70. Stocks from IT and pharma sectors gained as the rupee weakened against the dollar.

A bout of volatility was seen in early trade as the key benchmark indices reversed initial losses. Stocks alternately swung between positive and negative zone in a small range in morning trade. Key benchmark indices hovered in a small range with positive bias in mid-morning trade. Indices hit fresh intraday low in afternoon trade as selling pressure intensified. Stocks staged a mild pullback in mid-afternoon trade. Recovery continued in late trade, pushing the key equity indices to positive zone.

The barometer index, the S&P BSE Sensex, rose 22.32 points or 0.06% to settle at 35,622.14. The Sensex had hit a high of 35,675.20 and low of 35,419.68 during the day.

The Nifty 50 index rose 9.65 points or 0.09% to settle at 10,817.70. The Nifty had hit a high of 10,834 and 10,755.40 during the day.

The S&P BSE Mid-Cap index fell 0.4%. The S&P BSE Small-Cap index fell 0.46%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1102 shares rose and 1534 shares fell. A total of 150 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Metal index (down 1.53%), the S&P BSE Realty index (down 1.17%), the S&P BSE Power index (down 1.1%), the S&P BSE Oil & Gas index (down 1.08%), the S&P BSE Capital Goods index (down 1.04%), the S&P BSE Industrials index (down 0.92%), the S&P BSE Utilities index (down 0.92%), the S&P BSE Basic Materials index (down 0.79%), the S&P BSE Bankex (down 0.65%), the S&P BSE Auto index (down 0.63%), the S&P BSE Telecom index (down 0.54%), the S&P BSE Consumer Durables index (down 0.53%), the S&P BSE Finance index (down 0.52%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.47%), the S&P BSE FMCG index (down 0.39%) and the S&P BSE Energy index (down 0.25%), underperformed the Sensex.

The S&P BSE Teck index (up 1.83%), the S&P BSE Healthcare index (up 1.88%) and the S&P BSE IT index (up 2.24%), outperformed the Sensex.

RIL (up 0.63%), Kotak Mahindra Bank (up 0.52%) and Hindustan Unilever (up 0.5%) edged higher from the Sensex pack.

Yes Bank (down 1.91%), SBI (down 1.82%) and ONGC (down 1.81%) edged lower from the Sensex pack.

IT stocks gained as the rupee weakened against the dollar. A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports.

Infosys (up 3.37%), HCL Technologies (up 1.14%), Tech Mahindra (up 1.19%), Oracle Financial Services Software (up 1.59%) and MindTree (up 0.96%) rose. Mphasis (down 4%) and Hexaware Technologies (down 0.59%) fell.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 67.94, compared with its close of 67.63 during the previous trading session.

TCS gained 2.75% to Rs 1,841.45. The board of directors of the company at its meeting held today has approved a proposal to buyback up to 7.61 crore equity shares of the company for an aggregate amount not exceeding Rs 16000 crore being 1.99% of the total paid up equity share capital, at Rs 2,100 per share. The announcement was made during market hours today, 15 June 2018.

The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism.

Wipro rose 0.04% after the company announced that it signed two multi-year business deals — one with Nokia for the design and digitalisation of Nokia's sales order operations and another with LATAM Cargo, a part of Latin America's LATAM Airlines Group, for cargo management. Wipro, however, did not provide any financial details about the two contracts. Both the announcements were made separately after market hours yesterday, 14 June 2018.

Pharmaceutical shares gained as the rupee edged lower against the dollar. A lower rupee boosts the value of overseas earnings in local terms. Pharma companies derive substantial revenue from exports.

Cipla (up 4.09%), Glenmark Pharmaceuticals (up 0.21%), Lupin (up 1.3%), Sun Pharmaceutical Industries (up 2.04%), Aurobindo Pharma (up 0.58%) and Wockhardt (up 0.51%) rose. Alkem Laboratories (down 1.79%), GlaxoSmithKline Pharmaceuticals (down 0.37%) and Cadila Healthcare (down 0.18%) fell.

Dr. Reddy's Laboratories gained 3.65% after the company announced that it has received final approval from the US Food and Drug Administration (USFDA) and is launching Buprenorphine and Naloxone Sublingual Film, 2 mg/0.5 mg, 4 mg/1 mg, 8 mg/2 mg, and 12 mg/3 mg, a therapeutic equivalent generic version of Suboxone (buprenorphine and naloxone) sublingual film, in the United States market. The announcement was made before market hours today, 15 June 2018.

Buprenorphine and naloxone are used to treat adults with opioid dependence/addiction. The Suboxone brand had US sales of approximately $1.86 billion MAT for the most recent twelve months ending in April 2018 according to IMS Health.

Alembic Pharmaceuticals rose 2.26% after the company said it received establishment inspection report for its formulation facility at Panelav in Gujarat. The announcement was made during trading hours today, 15 June 2018.

Alembic Pharmaceuticals said it received establishment inspection report (EIR) from United States Food and Drug Administration (USFDA) for the inspection carried out by them at the company's formulation facility at Panelav during the period from 1 March 2018 to 20 March 2018.

On the macro front, India's trade deficit widened to $14.62 billion in May 2018 from $13.84 billion in May 2017, the government said on Friday.

Overseas, European shares fell with bank shares under pressure and as investors prepare for the US to ramp-up its trade dispute with China.

The European Central Bank (ECB) said it would phase out some of its easy-money policies on the back of an improving economic picture in Europe. On interest rates, the ECB said rates will remain at their present all-time lows at least through the summer of 2019.

The ECB said it would continue its program of buying 30 billion euros a month of bonds through September, as planned. The purchase amount will then be reduced in October to 15 billion euros a month and run through the end of December. The purchases will end in December.

Most Asian stocks fell. The Bank of Japan (BOJ) held to its easing policy on Friday, as widely expected. Its policy makers voted 8-1 to keep the bank's short-term interest rate at minus 0.1%. The BOJ also pledged to maintain its inflation target at 2%. The bank's Governor Haruhiko Kuroda said it is too early for the BOJ to talk about winding down stimulus.

Meanwhile, US President Donald Trump reportedly approved tariffs on about $50 billion of Chinese goods, as the US ratchets up its trade fight with Beijing over China's alleged pressure on US firms to transfer technology to Chinese partners. It wasn't clear when the tariffs would go into effect.

Domestic stocks logged modest losses weighed by negative global cues after the US Federal Reserve raised interest rates and struck a hawkish tone in its latest policy statement. The barometer index, the S&P BSE Sensex, fell 139.34 points or 0.39% to settle at 35,599.82. The Nifty 50 index fell 48.65 points or 0.45% to settle at 10,808.05. India's wholesale inflation rising to a 14-month high in May also spoiled sentiment.

Domestic stocks edged lower in early trade tracking negative Asian stocks after the US Federal Reserve struck a hawkish tone in its latest policy statement. Fresh selling in index pivotals pulled the key benchmark indices to intraday low in morning trade. Stocks continued to trade with weakness in mid-morning trade. Key equity benchmarks trimmed losses after hitting fresh intraday low in afternoon trade. Indices staged a pullback in mid-afternoon trade. Stocks hovered with negative bias in late trade.

The Sensex fell 139.34 points or 0.39% to settle at 35,599.82, its lowest closing level since 11 June 2018. The index rose 10.72 points, or 0.03% at the day's high of 35,749.88. The index fell 250.61 points, or 0.70% at the day's low of 35,488.55.

The Nifty 50 index fell 48.65 points or 0.45% to settle at 10,808.05, its lowest closing level since 11 June 2018. The index fell 23 points, or 0.21% at the day's high of 10,833.70. The index fell 83.15 points, or 0.77% at the day's low of 10,773.55.

The S&P BSE Mid-Cap index fell 0.08%. The S&P BSE Small-Cap index rose 0.07%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1,232 shares rose and 1,393 shares fell. A total of 134 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE IT index (down 1.4%), the S&P BSE Teck index (down 1.32%), the S&P BSE Consumer Durables index (down 0.89%), the S&P BSE Capital Goods index (down 0.81%), the S&P BSE Oil & Gas index (down 0.69%), the S&P BSE Power index (down 0.63%), the S&P BSE Industrials index (down 0.51%), the S&P BSE Utilities index (down 0.51%), the S&P BSE Bankex (down 0.48%), the S&P BSE Basic Materials index (down 0.47%) and the S&P BSE Metal index (down 0.45%), underperformed the Sensex. The S&P BSE Finance index (down 0.3%), the S&P BSE FMCG index (down 0.17%), the S&P BSE Realty index (down 0.15%), the S&P BSE Telecom index (down 0.08%), the S&P BSE Energy index (up 0.03%), the S&P BSE Auto index (up 0.05%), the S&P BSE Consumer Discretionary Goods & Services index (up 0.05%) and the S&P BSE Healthcare index (up 1.47%), outperformed the Sensex.

Private sector banks were mixed. City Union Bank (up 2.19%), Yes Bank (up 1.17%), IndusInd Bank (up 1%) and Kotak Mahindra Bank (up 0.28%),edged higher. Federal Bank (down 0.92%), Axis Bank (down 1.52%) and ICICI Bank (down 2.11%), edged lower.

HDFC Bank rose 0.09% to Rs 2,037.15. The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the proposal for grant of permission to HDFC Bank to raise additional share capital of up to a maximum of Rs 24000 crore, including premium, over and above the previous approved limit of Rs 10000 crore, such that the composite foreign shareholding in the bank shall not exceed 74% of the enhanced paid-up equity share capital of the bank, the Ministry of Finance said in a statement yesterday, 13 June 2018.

The decision would ensure that the composite foreign shareholding in the bank inclusive of all types of foreign investments, both direct and indirect, will not exceed 74% of the enhanced paid-up equity share capital of the bank. It will be subject to Foreign Direct Investment Policy conditionalities and other sectoral regulations / guidelines. The proposed investment is expected to strengthen the capital adequacy ratio of the bank, the statement added.

Most public sector banks declined. UCO Bank (down 1.98%), State Bank of India (down 1.72%), Vijaya Bank (down 1.55%), Central Bank of India (down 1.47%), Syndicate Bank (down 1.44%), Union Bank of India (down 1.41%), Bank of Maharashtra (down 1.37%), Indian Bank (down 1.1%), Bank of Baroda (down 0.88%), Canara Bank (down 0.82%), Allahabad Bank (down 0.43%), IDBI Bank (down 0.16%), Andhra Bank (down 0.14%) and Bank of India (down 0.05%), edged lower. Punjab & Sind Bank (up 0.46%), Corporation Bank (up 0.47%), Punjab National Bank (up 0.55%) and Dena Bank (up 0.88%), edged higher.

Engineering and construction major L&T shed 0.87%. L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of L&T, has won new orders in excess of Rs 750 crore in its Construction Services business vertical. The Water & Effluent Treatment business secured orders worth Rs 432 crore. The Smart World & Communication business has secured an order worth Rs 209 crore. The announcement was made during market hours today, 14 June 2018.

HCL Technologies rose 1.24%. HCL Technologies announced it has signed an end-to-end IT infrastructure services deal with Falck, an international leader in the ambulance and healthcare markets. The announcement was made during trading hours today, 14 June 2018.

Through this deal, HCL will support Falck's business transformation by consolidating, simplyfing and standardizing Falck's IT infrastructure operations through a centralised global service delivery model. The new centralised model will enable greater automation, improved cost transparency, enhanced operational efficiency and increased control. The delivery hubs for this engagement will include HCL's newly inaugurated Global Delivery Centre in Gothenburg, Sweden and sites in the US and South America.

Cipla rose 1.13%. Cipla announced that it has received final approval for its Abbreviated New Drug Application (ANDA) for Isoproterenol Hydrochloride Injection USP, 0.2mg/mL, single-use sterile Ampoule from the United States Food and Drug Administration (USFDA). Cipla's Isoproterenol Hydrochloride injection USP, indicated for the treatment of cardiac problems, ampoule is AP-rated generic therapeutic equivalent version of Hospira Inc's Isuprel injection. According to IQVIA (IMS Health), Isuprel Injection and its generic equivalents had US sales of approximately $148 million for the 12-month period ending April 2018. The announcement was made after market hours yesterday, 13 June 2018.

Separately, Cipla said its Ugandan subsidiary, Cipla Quality Chemical Industries (CiplaQCIL), intends on partnering with the government of Uganda to increase access to cancer treatments. And as part of its growth strategy, CiplaQCIL is evaluating an initial public offering. In the event that this is achieved, a section of the public will have a stake in the company. The transaction would be subject to approval from the relevant market regulators. The announcement was made after market hours yesterday, 13 June 2018.

Lupin advanced 3.35% announced the launch of its Tobramycin Inhalation Solution USP, having received an approval from the United States Food and Drug Administration (USFDA) earlier. Lupin's Tobramycin Inhalation Solution USP, 300 mg/5 ml is the generic equivalent of Novartis Pharmaceuticals Corporation's Tobi 300 mg/5 ml. It is indicated for the management of cystic fibrosis patients with P. aeruginosa. Tobramycin Inhalation Solution USP, 300 mg/5 ml had annual sales of approximately $99 million in the US (IQVIA MAT April 2018). The announcement was made after market hours yesterday, 13 June 2018.

Hindusthan National Glass & Industries hit an upper circuit limit of 20% at Rs 92.70. Hindusthan National Glass & Industries said it has entered into a share purchase agreement for divesting its entire 11.23% holding in HNG Float Glass, a joint venture of the company, to Trakya Cam Sanayii AS. The announcement was made after market hours yesterday, 13 June 2018.

Hindusthan National Glass said it has transferred 3.45 crore equity shares to Trakya Cam Sanayii AS for $19.26 million (Rs 129.76 crore). HNG Float Glass has posted a turnover of Rs 554.18 crore during 2017-2018 with a net worth of Rs 421.54 crore as on 31 March 2018. Trakya Cam Sanayii AS is a large float glass manufacturing group in Europe with its presence all over Europe.

On the macro front, the annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 4.43% (provisional) for May 2018 (over May 2017) as compared to 3.18% (provisional) for the previous month and 2.26% during the corresponding month of the previous year. The data was unveiled during trading hours today, 14 June 2018.

India's current account deficit (CAD) widened in the fourth quarter of 2017-18 compared to a year ago, government data released after market hours yesterday, 13 June 2018 showed. India's CAD at US$ 13 billion (1.9% of GDP) in Q4 of 2017-18 increased from US$ 2.6 billion (0.4% of GDP) in Q4 of 2016 -17, but moderated marginally from US$ 13.7 billion (2.1% of GDP) in the preceding quarter. The widening of the CAD on a year-on-year (y-o-y) basis was primarily on account of a higher trade deficit (US$ 41.6 billion) brought about by a larger increase in merchandise imports relative to exports.

For the full year, the CAD increased to 1.9% of GDP in 2017-18 from 0.6% in 2016-17 on the back of a widening of the trade deficit. India's trade deficit increased to US$ 160 billion in 2017-18 from US$ 112.4 billion in 2016-17.

Traders and investors are closely awaiting a series of domestic and global events this week. On the global front, the European Central Bank (ECB) will hold its policy meeting today, 14 June 2018, in which policy makers are poised to hold formal talks on ending its bond-buying program. The Bank of Japan meets tomorrow, 15 June 2018 with no change to policy expected.

Overseas, shares in Europe and Asia dropped as mining shares were bruised by concerns about China's economic health after downbeat data. China is the world's largest buyer of copper and a major buyer of other industrial and precious metals.

US stock benchmarks ended near session lows yesterday, 13 June 2018, as the Federal Reserve completed its second increase to benchmark interest rates in 2018, as expected, but signaled a slightly more aggressive plan to tighten monetary policy this year than had previously been projected.

The Federal Reserve voted to raise its benchmark federal-funds rate by a quarter percentage point to a range of 1.75% to 2%. Policymakers also projected a slightly faster pace of rate increases in the coming months, with two additional hikes expected by the end of this year, compared to one previously. They see another three rate increases next year, a pace unchanged from their previous forecast.

Chairman Jerome Powell said the Fed was comfortable with a return of once-dormant inflation and emphasized the central bank's desire to avoid a policy error that could result in unnaturally inflating asset valuations or pushing the economy into a recession.

Amid a divergent trend among various index constituents, the key benchmark indices settled with small gains amid volatility. The barometer index, the S&P BSE Sensex, rose 46.64 points or 0.13% to settle at 35,739.16. The Nifty 50 index rose 13.85 points or 0.13% to settle at 10,856.70.

Domestic stocks drifted higher in early trade boosted by good industrial production data for April. Stocks trimmed gains in morning trade. Key benchmark indices once again regained strength in mid-morning trade. Indices trimmed gains after hitting fresh intraday high in afternoon trade. Firmness prevailed on the bourses in mid-afternoon trade. Stocks trimmed gains in late trade.

The Sensex rose 46.64 points or 0.13% to settle at 35,739.16, its highest closing level since 1 February 2018. The index rose 184.89 points, or 0.52% at the day's high of 35,877.41. The index rose 23.44 points, or 0.07% at the day's low of 35,715.96.

The Nifty 50 index rose 13.85 points or 0.13% to settle at 10,856.70, its highest closing level since 1 February 2018. The index rose 50.40 points, or 0.46% at the day's high of 10,893.25. The index fell 0.20 points at the day's low of 10,842.65.

The S&P BSE Mid-Cap index fell 0.46%. The S&P BSE Small-Cap index fell 0.21%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, turned negative from positive in late trade. On the BSE, 1,297 shares rose and 1,380 shares fell. A total of 157 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Telecom index (down 1.26%), the S&P BSE Capital Goods index (down 0.66%), the S&P BSE FMCG index (down 0.42%), the S&P BSE Industrials index (down 0.42%), the S&P BSE Metal index (down 0.38%), the S&P BSE Power index (down 0.26%), the S&P BSE Finance index (down 0.2%), the S&P BSE Utilities index (down 0.18%), the S&P BSE Basic Materials index (down 0.07%), the S&P BSE Auto index (down 0.02%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.01%) and the S&P BSE Oil & Gas index (down 0.01%), underperformed the Sensex. The S&P BSE Realty index (up 0.22%), the S&P BSE Bankex (up 0.27%), the S&P BSE Energy index (up 0.35%), the S&P BSE Consumer Durables index (up 0.57%), the S&P BSE Healthcare index (up 0.58%), the S&P BSE Teck index (up 0.94%) and the S&P BSE IT index (up 1.29%), outperformed the Sensex.

Dr Reddy's Laboratories (up 2.82%), Power Grid Corporation of India (up 1.43%), Infosys (up 1.41%) and Wipro (up 0.98%), were the major Sensex gainers.

Tata Steel (down 2.12%), Adani Ports and Special Economic Zone (down 1.48%), Hindustan Unilever (down 1.31%), Bharti Airtel (down 1.3%) and ONGC (down 0.79%), were the major Sensex losers.

IT major TCS gained 2.43% after the company said that its board of directors will meet on 15 June 2018 to consider a proposal for buyback of equity shares of the company. The announcement was made after market hours yesterday, 12 June 2018.

Sun Pharmaceutical Industries (Sun Pharma) advanced 0.95% after the company announced that it has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for the inspection conducted at its Halol facility (Gujarat, India) during the period 12-23 February 2018. The agency concluded that the inspection is now closed and the issues contained in the Warning Letter issued in December 2015 have been addressed.

Commenting on the development, Dilip Shanghvi, managing director, Sun Pharma said that this is an important development for the company. Sun Pharma remains committed to following the highest levels of quality and 24x7 cGMP compliance at all its manufacturing facilities globally. The announcement was made after market hours yesterday, 12 June 2018.

Page Industries rose 4.03% after the company announced that its license agreement with Jockey International Inc., has been extended till 31 December 2040. The announcement was made after market hours yesterday, 12 June 2018.

Banks shares were mixed. Among private sector banks, IndusInd Bank (down 0.71%), City Union Bank (down 0.48%), HDFC Bank (down 0.46%) and Kotak Mahindra Bank (down 0.36%), edged lower. Yes Bank (up 0.21%), Axis Bank (up 0.55%), ICICI Bank (up 1.18%) and RBL Bank (up 1.86%), edged higher.

Federal Bank fell 1.87%. The bank said it entered into definitive agreements for investment upto 19.89% in the equity share capital of Equirus Capital. The announcement was made after market hours yesterday, 12 June 2018.

Among public sector banks, Bank of Baroda (up 2.55%), State Bank of India (up 1.70%), Allahabad Bank (up 1.64%), Bank of India (up 1.13%), Syndicate Bank (up 1.07%), Union Bank of India (up 1.06%), IDBI Bank (up 0.73%), Vijaya Bank (up 0.43%), Andhra Bank (up 0.27%), Indian Bank (up 0.23%) and Bank of Maharashtra (up 0.14%), edged higher. Canara Bank (down 0.5%), United Bank of India (down 0.5%), Punjab National Bank (down 0.65%), Punjab & Sind Bank (down 1.07%), Corporation Bank (down 1.7%), UCO Bank (down 1.72%) and Central Bank of India (down 3.63%), edged lower.

On the macro front, the annual consumer inflation rose to a four-month high of 4.87% in May as compared to 4.58% in April due to costly petrol and diesel and a weak rupee, provisional government data released after market hours yesterday, 12 June 2018 showed. The annual retail inflation stood at 2.99% in April 2017.

In a separate data released by the government after market hours yesterday, 12 June 2018, industrial output rose to 4.9% in April as compared to 4.4% growth in March 2018.

Traders and investors are closely awaiting a series of domestic and global events this week. The wholesale price index (WPI) inflation data will be announced tomorrow, 14 June 2018.

On the global front, the US Federal Reserve's two-day policy meeting concludes today, 13 June 2018. The Fed is widely expected to raise interest rates for the second time this year after a move in March as the US economy remains solid. Investors will closely watch the outlook for future monetary tightening amid an ongoing economic expansion.

The European Central Bank (ECB) will hold its policy meeting tomorrow, 14 June 2018, in which policy makers are poised to hold formal talks on ending its bond-buying program. The Bank of Japan meets on Friday, 15 June 2018 with no change to policy expected.

In the overseas stock market, most European stocks edged higher while most Asian stocks fell as investors looked to the US Federal Reserve policy decision later in the day and any clues it might give on future rate hikes, shifting focus away from the historic US-North Korea summit in Singapore.

US stocks closed little changed yesterday, 12 June 2018 after US President Donald Trump and North Korea leader Kim Jong Un signed an agreement aimed at establishing a peace regime on the Korean peninsula and better relations between the two states. Lack of detail in the agreement about the path to denuclearization on the peninsula kept the market's moves in check throughout the day.

Stocks logged modest gains in steady session of trade on sustained buying demand in index pivotals. The barometer index, the S&P BSE Sensex, rose 209.05 points or 0.59% to settle at 35,692.52. The Nifty 50 index rose 55.90 points or 0.52% to settle at 10,842.85.

Domestic stocks edged higher in early trade. Key benchmark indices extended gains in morning trade. Stocks hovered in positive zone in mid-morning trade. Firmness prevailed on the bourses in early afternoon trade. Indices turned volatile and trimmed gains in afternoon trade. Indices hovered in positive zone in mid-afternoon trade. Stocks hit fresh intraday high in late trade.

The Sensex rose 209.05 points or 0.59% to settle at 35,692.52, its highest closing level since 1 February 2018. The index rose 259.61 points, or 0.73% at the day's high of 35,743.08. The index fell 4.40 points, or 0.01% at the day's low of 35,479.07.

The Nifty 50 index rose 55.90 points or 0.52% to settle at 10,842.85, its highest closing level since 1 February 2018. The index rose 69.60 points, or 0.65% at the day's high of 10,856.55. The index rose 2.45 points, or 0.02% at the day's low of 10,789.40.

The S&P BSE Mid-Cap index rose 0.90%, outperforming the Sensex. The S&P BSE Small-Cap index was up 0.54%, underperforming the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,441 shares rose and 1,222 shares fell. A total of 143 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Healthcare index (up 1.94%), the S&P BSE Capital Goods index (up 1.19%), the S&P BSE Industrials index (up 0.81%), the S&P BSE FMCG index (up 0.73%), the S&P BSE Bankex (up 0.69%), the S&P BSE Energy index (up 0.69%), the S&P BSE Finance index (up 0.64%), outperformed the Sensex. The S&P BSE IT index rose 0.59%, matching the Sensex's gain in percentage terms. The S&P BSE Consumer Durables index (up 0.35%), the S&P BSE Teck index (up 0.35%), the S&P BSE Realty index (up 0.31%), the S&P BSE Oil & Gas index (up 0.28%), the S&P BSE Power index (up 0.24%), the S&P BSE Consumer Discretionary Goods & Services index (up 0.23%), the S&P BSE Auto index (up 0.04%), the S&P BSE Utilities index (down 0.15%), the S&P BSE Basic Materials index (down 0.29%), the S&P BSE Telecom index (down 0.31%) and the S&P BSE Metal index (down 0.56%), underperformed the Sensex.

Index heavyweight and housing finance major HDFC rose 0.73% to Rs 1852.95. Index heavyweight Reliance Industries (RIL) rose 1.32% to Rs 995.40. Index heavyweight and cigarette major ITC rose 0.32% to Rs 270. Index heavyweight and IT major Infosys fell 0.37% to Rs 1258.40.

Pharmaceutical shares rose. Lupin (up 5.78%), Dr Reddy's Laboratories (up 5.23%), Glenmark Pharmaceuticals (up 4.13%), Divi's Laboratories (up 3.90%), Strides Shasun (up 3.83%), Cadila Healthcare (up 3.28%), Aurobindo Pharma (up 3.25%), Wockhardt (up 2.02%), GlaxoSmithKline Pharmaceuticals (up 1.41%), Cipla (up 1.30%), Piramal Enterprises (up 1.26%), Sun Pharmaceutical Industries (up 1.03%) and Alkem Laboratories (up 0.44%), edged higher. IPCA Laboratories rose. 1.22%.

Most private sector banks rose. Federal Bank (up 1.20%), RBL Bank (up 1.20%), Kotak Mahindra Bank (up 0.84%), ICICI Bank (up 0.17%), City Union Bank (up 0.16%) and HDFC Bank (up 0.09%), edged higher. Axis Bank (down 0.61%) and Yes Bank (down 0.98%), edged lower.

IndusInd Bank rose 2.41%. The Overseas Private Investment Corporation (OPIC) announced that $5 million in local currency financing has been mobilized to Grameen Impact under an OPIC loan guarantee agreement with IndusInd Bank. The financing was deployed through IndusInd Bank's Impact Investing division, which will support Grameen Impact's lending to local small and medium enterprises. The announcement was made during market hours today, 12 June 2018.

Public sector banks were mixed. State Bank of India (up 3.36%), Canara Bank (up 1.76%), Bank of India (up 1.60%), Vijaya Bank (up 1.40%), Union Bank of India (up 0.96%), Punjab & Sind Bank (up 0.91%), Syndicate Bank (up 0.29%), Punjab National Bank (up 0.16%) and Andhra Bank (up 0.14%), edged higher. Allahabad Bank (down 0.22%), UCO Bank (down 0.25%), Bank of Baroda (down 0.45%), Dena Bank (down 0.59%), Indian Bank (down 0.64%), Bank of Maharashtra (down 1%), United Bank of India (down 1.32%), Corporation Bank (down 1.52%) and Central Bank of India (down 2.11%), edged lower.

L&T rose 1.58%. The Heavy Civil Infrastructure business of L&T Construction will design and construct a 3.2 km, six-lane iconic bridge across the river Krishna, which includes 2.72 km of approach bridges, on EPC basis. The bridge will connect Pavitrasangamam in Vijayawada and N10 Road in Amaravati. The Rs 1387 crore project was received from Amaravati Development Corporation (ADCL) and L&T has also been entrusted with the operation and maintenance for the bridge for five years. The announcement was made during market hours today, 12 June 2018.

Tata Consultancy Services (TCS) rose 1.74%. TCS has expanded its agreement with M&G Prudential, the UK and European savings and investments business of Prudential pic. The 10 year partnership, which was announced in January 2018, aimed to digitally transform M&G Prudential's business and deliver an enhanced service for its UK savings and retirement customers. The announcement was made during market hours today, 12 June 2018.

The agreement has now been expanded to cover an additional 1.8 million customer policies which will move from M&G Prudential to TCS, bringing the total number of policies covered by the partnership to 5.8 million, and is worth an additional £500 million ($668 million USD) over the term of the contract. The expanded partnership further cements TCS' position as the market leader in UK life and pension administration, with more than 18 million policies being administered by its BFSI Digital Platform, powered by TCS BaNCS.

Traders and investors are closely awaiting a series of domestic and global events this week. Consumer price index (CPI)-inflation and index of industrial production (IIP) data is due today, 12 June 2018, while the wholesale price index (WPI) inflation data will be announced on Thursday, 14 June 2018.

On the global front, North Korean leader Kim Jong Un and US President Donald Trump have met at the Capella Hotel in Sentosa island, Singapore for a historic summit, after both sides sought to narrow differences over how to end a nuclear standoff. The historic meeting has come to an end. Trump and Kim Jong Un have reportedly signed an unspecified document in Singapore, amid Trump's comment that North Korea's denuclearization process will begin very quickly.

The US Federal Reserve is expected to raise interest rates Wednesday, 13 June 2018 as the US economy remains solid. European Central Bank rates decision is on Thursday, 14 June 2018 in which policy makers are poised to hold formal talks on ending its bond-buying program. The Bank of Japan meets on Friday, 15 June 2018 with no change to policy expected.

In the overseas market, most European stocks fell as investors awaited the Brexit vote in the House of Commons for further direction. Asian stocks ended mixed after US President Donald signed a deal with the North Korean leader, with the latter claiming there will be a major change in the world. US stocks rose in a relatively quiet day yesterday, 11 June 2018 as investors started a hectic week during which three major central banks set interest rates.

Key benchmark indices logged small gains on first trading day of the week. The barometer index, the S&P BSE Sensex, rose 39.80 points or 0.11% at 35,483.47. The Nifty 50 index rose 19.30 points or 0.18% at 10,786.95. Trading was volatile as marketmen keenly await a series of domestic and global events this week.

Trading for the week began on upbeat note as the key benchmark indices drifted higher in early trade. Stocks extended early gains in morning trade. Stocks held firm in mid-morning trade on sustained buying demand in index pivotals. Firmness prevailed on the bourses in afternoon trade. Stocks hit fresh intraday high in mid-afternoon trade. Indices sharply pared gains in late trade.

The Sensex rose 39.80 points or 0.11% to settle at 35,483.47, its highest closing level since 15 May 2018. The index rose 261.17 points, or 0.74% at the day's high of 35,704.84. The index rose 0.82 points at the day's low of 35,444.49.

The Nifty 50 index rose 19.30 points or 0.18% to settle at 10,786.95, its highest closing level since 15 May 2018. The index rose 82.90 points, or 0.77% at the day's high of 10,850.55. The index rose 9.40 points, or 0.09% at the day's low of 10,777.05.

The S&P BSE Mid-Cap index fell 0.09%, underperforming the Sensex. The S&P BSE Small-Cap index rose 0.51%, outperforming the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,529 shares rose and 1,147 shares fell. A total of 156 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Telecom index (up 1.56%), the S&P BSE Consumer Durables index (up 1.03%), the S&P BSE Healthcare index (up 0.51%), the S&P BSE Teck index (up 0.41%), the S&P BSE FMCG index (up 0.37%), the S&P BSE Consumer Discretionary Goods & Services index (up 0.34%), the S&P BSE Basic Materials index (up 0.28%), the S&P BSE IT index (up 0.2%), the S&P BSE Capital Goods index (up 0.18%), the S&P BSE Finance index (up 0.13%) and the S&P BSE Auto index (up 0.12%), outperformed the Sensex. The S&P BSE Industrials index (up 0.06%), the S&P BSE Bankex (up 0.05%), the S&P BSE Power index (down 0.01%), the S&P BSE Utilities index (down 0.1%), the S&P BSE Energy index (down 0.18%), the S&P BSE Oil & Gas index (down 0.22%), the S&P BSE Metal index (down 0.35%) and the S&P BSE Realty index (down 0.71%), underperformed the Sensex.

Among private sector banks, RBL Bank (up 1.83%), Federal Bank (up 0.93%), Axis Bank (up 0.68%) and Kotak Mahindra Bank (up 0.11%), edged higher. HDFC Bank (down 0.24%), ICICI Bank (down 0.54%), City Union Bank (down 0.56%) and Yes Bank (down 0.56%), edged lower.

IndusInd Bank rose 0.76%. The Reserve Bank of India (RBI) has allowed IndusInd Bank to incorporate a wholly-owned subsidiary for the amalgamation of micro-lender Bharat Financial Inclusion (BFIL) with the bank. The announcement was made after market hours on Friday, 8 June 2018.

Among public sector banks, Corporation Bank (up 10.18%), Central Bank of India (up 5.99%), Punjab National Bank (up 1.38%), United Bank of India (up 1.33%), Bank of Baroda (up 1.02%), Punjab & Sind Bank (up 0.92%), UCO Bank (up 0.74%), Syndicate Bank (up 0.59%) and State Bank of India (up 0.35%), edged higher. Dena Bank (down 0.29%), Canara Bank(down 0.31%), Vijaya Bank (down 0.44%), Indian Bank (down 0.53%), IDBI Bank (down 0.65%), Bank of Maharashtra (down 0.78%), Bank of India (down 0.84%), Allahabad Bank (down 0.97%), Andhra Bank (down 1.08%) and Union Bank of India (down 1.94%), edged lower.

Index heavyweight Reliance Industries (RIL) shed 0.10%. Reliance Brands, a subsidiary of the company, has purchased 100% stake in Rhea Retail (Rhea) for all cash consideration of Rs 203.46 crore. Rhea is in the business of selling of products in India for expectant mothers and in general merchandise for children. The announcement was made after market hours on Friday, 8 June 2018.

Rhea being in the retailing industry as Reliance Brands, the acquisition would result in significant synergies. Rhea was incorporated on 9 April 2007. The turnover of Rhea was Rs 200 crore in FY 2017-18, FY 2016-17 was Rs 200 crore and Rs 175 crore in FY 2015-16.

L&T slipped 0.07%. The company said that its construction arm L&T Construction has won orders worth Rs 2210 crore across two business segments. The Water & Effluent Treatment Business secured orders worth Rs 2044 crore and Heavy Civil Infrastructure Business secured orders worth Rs 166 crore. The announcement was made during market hours today, 11 June 2018.

Alembic Pharmaceuticals surged 19.87% to Rs 521.25 after the company said it received US drug regulator's approval for Bupropion Hydrochloride tablets in strength of 75 and 100 milligrams. The announcement was made during trading hours today, 11 June 2018.

Alembic Pharmaceuticals announced that the company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Bupropion Hydrochloride tablets USP, 75 mg and 100 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Wellbutrin tablets, 75 mg and 100 mg, of GlaxoSmithKline LLC.

Bupropion Hydrochloride tablets USP, 75 mg and 100 mg is indicated for the treatment of major depressive disorder. Bupropion Hydrochloride tablets USP, 75 mg and 100 mg, have an estimated market size of $37 million for twelve months ending December 2017 according to IMS.

Traders and investors are closely awaiting a series of domestic and global events this week. Consumer price index (CPI)-inflation and index of industrial production (IIP) data is due tomorrow, 12 June 2018, while the wholesale price index (WPI) inflation data will be announced on Thursday, 14 June 2018.

Overseas, European shares were trading higher ahead of a historic meeting between the US President and the North Korean leader. Asian stocks ended mixed with limited fallout from a tumultuous G-7 meeting.

US President Donald Trump and North Korean leader Kim Jong Un will meet for an historic summit in Singapore tomorrow, 12 June 2018. The meeting takes place after tensions emerged between Trump and Western allies in the aftermath of a G-7 meeting. Trump decided to reject the joint G-7 statement after comments from Canadian Prime Minister Justin Trudeau that Canadians would not be pushed around. The spat emerged due to different views on tariffs and world trade.

UK Prime Minister Theresa May faces votes that could derail her Brexit policy tomorrow, 12 June 2018. The US Federal Reserve is expected to raise interest rates Wednesday, 13 June 2018 as the US economy remains solid. European Central Bank rates decision on Thursday, 14 June 2018 and briefing with President Mario Draghi. Bank of Japan June monetary policy decision and news conference will follow on Friday, 15 June 2018.

The market ended the volatile session almost flat as losses in banks shares negated gains in IT and pharma shares. The barometer index, the S&P BSE Sensex, fell 19.41 points or 0.05% to settle at 35,443.67. The Nifty 50 index fell 0.70 points or 0.01% to settle at 10,767.65. Weak global cues also capped gains.

Intraday trading was volatile. The indices opened lower and hit intraday low in early trade. The indices recovered in morning trade. After hovering in a range, indices hit fresh intraday low in early afternoon trade. Indices trimmed losses in mid-afternoon trade and entered positive terrain in late trade.

Overseas, European stocks followed Asian peers lower as cyclical sectors including autos and mining dropped amid trade tensions ahead of the G7 summit.

Asian stocks declined after the mixed close on Wall Street. Worries over global trade relations ahead of a key meeting of global leaders weighed on investor sentiment as well. Asian shares also fell as risk appetite turned weak on bets that Europe's massive monetary stimulus was nearing an end.

Japan's economy shrank at an annualized pace of 0.6% in the January-March quarter.

In US, the S&P 500 and Nasdaq Composite ended with modest losses on Thursday, as a selloff in major technology shares put pressure on the benchmarks. Traders were cautious as leaders of the Group of Seven nations kicked off a summit in Canada. The G-7 summit takes place in Canada on Friday, 8 June 2018, and Saturday, 9 June 2018, with the issues related to protectionism and international trade expected to take center stage.

On the US data front, initial jobless claims fell slightly in early June, keeping the rate of layoffs in the US near a 50-year low. Household wealth topped $100 trillion for the first time in the first quarter, the Federal Reserve said. Consumer credit in April slowed to a seasonally adjusted annual rate of 2.9%, or $9.3 billion, down from 3.8% in March.

Back home, the Sensex fell 19.41 points or 0.05% to settle at 35,443.67. The index rose 21.86 points, or 0.06% at the day's high of 35484.94. The index fell 203.08 points, or 0.57% at the day's low of 35,260.

The Nifty 50 index fell 0.70 points or 0.01% to settle at 10,767.65. The index rose 11.10 points, or 0.10% at the day's high of 10,779.45. The index fell 59.30 points, or 0.55% at the day's low of 10,709.05.

Among secondary barometers, the BSE Mid-Cap index rose 0.42%. The BSE Small-Cap index rose 0.58%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1476 shares rose and 1167 shares fell. A total of 139 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Healthcare index (up 3.62%), the S&P BSE IT index (up 0.77%), the S&P BSE Energy index (up 0.75%), the S&P BSE Teck index (up 0.73%), the S&P BSE Oil & Gas index (up 0.60%), the S&P BSE Consumer Durables index (up 0.38%), the S&P BSE Realty index (up 0.38%), the S&P BSE Industrials index (up 0.21%), the S&P BSE Telecom index (up 0.13%), the S&P BSE Consumer Discretionary Goods & Services index (up 0.10%) and the S&P BSE Utilities index (up (down 0.04%), outperformed the Sensex. The S&P BSE Auto index (down 0.12%), the S&P BSE Bankex (down 0.24%), the S&P BSE Basic Materials index (down 0.24%), the S&P BSE Capital Goods index (down 0.24%), the S&P BSE Finance index (down 0.3%), the S&P BSE FMCG index (down 0.36%), the S&P BSE Metal index (down 0.43%) and the S&P BSE Power index (down 0.74%), underperformed the Sensex.

Shares of IT and pharma companies bucked weak market trend due to sliding rupee. Weakness in rupee could boost revenue of IT and pharma companies in rupee terms as these sectors derive substantial revenue from exports.

Among IT shares, MphasiS (up 4.69%), MindTree (up 1.81%), TCS (up 0.78%), Infosys (up 0.72%), HCL Technologies (up 0.68%), Tech Mahindra (up 0.60%), Hexaware Technologies (up 0.31%) and Oracle Financial Services Software (up 0.02%), edged higher. Wipro (down 0.28%) and Persistent Systems (down 0.54%), edged lower.

Among pharmaceutical shares, Sun Pharmaceutical Industries (up 8.13%), Lupin (up 5.66%), Dr Reddy's Laboratories (up 4.92%), Wockhardt (up 4.60%), Aurobindo Pharma (up 4.42%), Glenmark Pharmaceuticals (up 3.82%), IPCA Laboratories (up 3.16%), Cadila Healthcare (up 2.48%), Strides Shasun (up 2.43%), GlaxoSmithKline Pharmaceuticals (up 1.45%) and Piramal Enterprises (up 0.29%), edged higher. Alkem Laboratories (down 0.47%) and Divi's Laboratories (down 0.65%), edged lower.

Drug major Cipla rose 3.33%. The company and Unitaid struck a landmark agreement today that will lower the price of the first combination therapy (containing co-trimoxazole, isoniazid and vitamin B6) that prevents opportunistic infections in people living with HIV. The HIV virus can weaken the immune system, increasing the risk of dangerous infection by bacteria and viruses. Under this agreement, Cipla will reduce the ceiling price of the medicine by more than 30% from $3 to $1.99 per person, per month, for all public-sector procurers in low- and middle-income countries. The price of the product is expected to come down more as governments and international funding bodies procure larger quantities for their HIV treatment programmes. The announcement was made during trading hours today, 8 June 2018.

In a separate announcement during trading hours today, 8 June 2018, Cipla announced its partnership with, Eli Lilly and Company (India), a 100% subsidiary of Eli Lilly and Company, a global multinational pharmaceutical leader, for the marketing and distribution of Lilly's BASAGLAR (insulin glargine injection) in India. Under this agreement, Lilly's BASAGLAR that is manufactured by Lilly will be marketed and distributed in India by Cipla.

Aurobindo Pharma rose 4.42%. The company announced during trading hours today, 8 June 2018, that it received final approval from the US Food & Drug Administration (USFDA) to manufacture Omeprazole Delayed-Release tablets OTC, 20mg. Aurobindo's Omeprazole Delayed-Release tablets are generic equivalent of AstraZeneca's Prilosec OTC tablets. The product will be launched in June 2018. Omeprazole tablets are indicated for the treatment of frequent heartburn (occurs 2 or more days a week). The estimated market size of Prilosec OTC tablets is $222 million for the twelve months ending March 2018, according to Nielsen data. This is the 141st ANDA (including 20 tentative approvals) to be approved out of Unit VII formulation facility in Hyderabad, India used for manufacturing oral products. Aurobindo now has a total of 369 ANDA approvals (336 Final approvals including 17 from Aurolife Pharma LLC and 33 tentative approvals) from USFDA.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 67.77, compared with closing of 67.1250 during the previous trading session.

Private sector banks were mixed. Axis Bank (down 1.05%), City Union Bank (down 0.96%), ICICI Bank (down 0.91%), IndusInd Bank (down 0.77%), HDFC Bank (down 0.71%) and Yes Bank (down 0.59%), edged lower. Federal Bank (up 0.06%), Kotak Mahindra Bank (up 0.79%) and RBL Bank (up 1.08%), edged higher.

Shares of public sector banks rose across the board. UCO Bank (up 9.46%), Dena Bank (up 5.88%), Allahabad Bank (up 5.84%), Andhra Bank (up 5.68%), Bank of Maharashtra (up 5.12%), Punjab National Bank (up 5.06%), United Bank of India (up 4.62%), Indian Bank (up 4.37%), Corporation Bank (up 3.99%), Central Bank of India (up 3.09%), Syndicate Bank (up 2.93%), Union Bank of India (up 2.75%), Punjab & Sind Bank (up 2.35%), Bank of India (up 2.03%), Canara Bank (up 1.55%), IDBI Bank (up 1.39%), State Bank of India (up 1.28%), Bank of Baroda (up 0.61%) and Vijaya Bank (up 0.44%), edged higher.

Finance Minister Piyush Goyal will reportedly meet heads of public sectors banks (PSBs) based out of western and southern regions today, 8 June 2018, to resolve various issues concerning them. According to reports, the meeting is being organised by State Bank of India (SBI) and will be chaired by Goyal in Mumbai. In all 15 CEO of PSBs from the two regions will participate in the meeting to discuss the way forward for the Indian banking system, reports added.

On the macro front, yields on the 10-year government bonds hit over 8% in the opening session on Friday, first time since December 2014, but soon declined ahead of weekly bond auction due later in the day.

The India Meteorological Department (IMD) stated yesterday, 7 June 2018, that Southwest Monsoon further advanced into some more parts of Central Arabian Sea, remaining parts of Coastal Karnataka, most parts of South Interior Karnataka and Goa and some parts of North Interior Karnataka. Conditions are favorable for further advance of Southwest Monsoon into some more parts of Central Arabian Sea, remaining parts of Goa, some parts of south Maharashtra, remaining parts of Karnataka and Rayalaseema, some parts of Telangana, some more parts of Coastal Andhra Pradesh and West Central Bay of Bengal during next 24 hours. Conditions are very likely to become favorable for further advance of Southwest Monsoon into some more parts of Maharashtra, Telangana & Coastal Andhra Pradesh in subsequent 48 hours.

Conditions are also likely to become favorable for further advance of Southwest Monsoon into most parts of Arabian Sea, remaining parts of Maharashtra, some parts of south Gujarat region, southern parts of Madhya Pradesh & Chhattisgarh, Odisha, West Bengal & Sikkim, remaining parts of Northeastern States and most parts of Bay of Bengal during 9th to 11th June 2018. In association with the likely strengthening of south west monsoon and likely formation of a low pressure system over the Bay of Bengal, enhanced rainfall activity with heavy to very heavy and isolated extremely heavy rainfall is likely along the west coast during 8th to 11th June 2018, IMD said.

Local stocks logged sharp gains on upbeat global cues. The barometer index, the S&P BSE Sensex, rose 284.20 points or 0.81% to settle at 35,463.08. The Nifty 50 index rose 83.70 points or 0.78% to settle at 10,768.35. Gains were led by index heavyweights Reliance Industries, ICICI Bank and Infosys. The Sensex and the Nifty, both, settled at over 3-week high.

Sustained buying by domestic institutional investors also boosted sentiment. Domestic institutional investors (DIIs) bought shares worth a net Rs 712.31 crore yesterday, 6 June 2018, as per provisional data. Foreign portfolio investors (FPIs) sold shares worth a net Rs 81.40 crore yesterday, 6 June 2018, as per provisional data released by the stock exchanges.

The barometer index, the S&P BSE Sensex, rose 284.20 points or 0.81% to settle at 35,463.08, its highest closing level since 15 May 2018. The Sensex rose 449.61 points, or 1.28% at the day's high of 35,628.49 in afternoon trade. The index rose 99.50 points, or 0.28% at the day's low of 35,278.38 in morning trade.

The Nifty 50 index rose 83.70 points or 0.78% to settle at 10,768.35, its highest closing level since 15 May 2018. The Nifty rose 133.35 points, or 1.25% at the day's high of 10,818 in afternoon trade. The index rose 37.95 points, or 0.36% at the day's low of 10,722.60 in morning trade.

Broader market witnessed strong buying support. Among secondary barometers, the BSE Mid-Cap index rose 1.40%. The BSE Small-Cap index rose 1.96%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1961 shares rose and 747 shares fell. A total of 111 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Realty index (up 2.77%), the S&P BSE Metal index (up 1.44%), the S&P BSE Power index (up 1.23%) outperformed the Sensex. The S&P BSE Consumer Durables index (down 0.23%), the S&P BSE Auto index (up 0.6%), the S&P BSE Bankex (up 0.69%) underperformed the Sensex.

ICICI Bank (up 2.52%), Axis Bank (up 2.48%), Wipro (up 1.99%), Asian Paints (up 1.9%) and Hindustan Unilever (up 1.84%) were the major Sensex gainers.

Coal India (down 0.69%), IndusInd Bank (down 0.58%) and Kotak Mahindra Bank (down 0.57%) were the major Sensex losers.

Index heavyweight Reliance Industries (RIL) rose 1.89%. With regard to the news item titled Had no option but to file defamation suit against COAI, says JIO, RIL clarified during trading hours today, 7 June 2018, that the news is about a subsidiary viz. Reliance Jio lnfocomm (RJIL). RJIL has filed a suit for damages against COAI and its Director General, Rajan Mathews, in the Delhi High Court for making maliciously false, disparaging and defamatory statements against it over a period of time. The Delhi High Court, in its Order dated 30 May 2018, after referring to certain words used by COAI and its Director General, Rajan Mathews, in the past, has restrained them from making disparaging and defamatory statements against RJIL. The High Court has listed the matter for further hearing in August 2018. Since the matter is sub-judice, it would not be appropriate for the company to make any further statements on the matter.

Auto major Tata Motors rose 3.32%. The company announced during trading hours today, 7 June 2018, that Jaguar Land Rover (JLR) reported total retail sales of 48,281 vehicles in May 2018, up 6.1% year on year. The sales growth was primarily driven by the introduction of new models including the Range Rover Velar, the Jaguar E-PACE and the new Land Rover Discovery.

Retail sales for May were up significantly year-on-year in Overseas markets (24.0%), in the UK (20.9%) and in North America (16.7%) but down in Europe (8.7%) and in China (8.1%) as import duty reduction is resulting in deferred purchases in advance of the 1 July effective date.

Tata Consultancy Services (TCS) rose 0.43% after the company announced that Bahrain National Holding (BNH) has selected TCS BaNCS for insurance as part of its transformation strategy to enhance both enterprise agility and customer- centric growth in Bahrain. The announcement was made during market hours today, 7 June 2018.

Power Grid Corporation of India rose 0.47%. POWERGRID Parli Transmission, a 100% wholly owned subsidiary of Power Grid Corporation of India, secured through tariff based competitive bidding (TBCB), has successfully completed the Project-progressively and the same has been declared commercial operation on 4 June 2018. The announcement was made during market hours today, 7 June 2018.

Metal shares were in demand. Jindal Steel & Power (up 4.2%), Hindustan Copper (up 3.64%), Vedanta (up 0.26%), Steel Authority of India (up 6.66%), Tata Steel (up 3.73%), JSW Steel (up 1.75%), Hindalco Industries (up 0.28%), NMDC (up 1.79%) and National Aluminium Company (up 2.58%) edged higher. Hindustan Zinc (down 0.03%) fell

Realty shares moved higher. Unitech (up 19.86%), Godrej Properties (up 8.32%), Parsvnath Developers (up 4.46%), Housing Development and Infrastructure (HDIL) (up 7%), Prestige Estates Projects (up 8.45%), Mahindra Lifespace Developers (up 4.62%), D B Realty (up 5.62%), Sunteck Realty (up 2.61%), Oberoi Realty (up 0.77%), Sobha (up 2.35%), DLF (up 0.75%) and Omaxe (up 0.07%) edged higher. Indiabulls Real Estate (down 0.23%) edged lower.

Lemon Tree Hotels rose 1.21%. The company has signed a License Agreement for a 104 room property at Gwalior, Madhya Pradesh under the company's brand 'Lemon Tree Hotel'. The hotel is expected to be operational by June, 2020. Carnation Hotel Private, the hotel management arm of the company will be operating and marketing this hotel. The announcement was made during market hours yesterday, 6 June 2018.

Majesco rose 4.11% after the company announced that a new start-up selected Majesco Core Suite for P&C platform on the Majesco Cloudlnsurer platform to support their market launch and growth strategies in a SaaS model. The evaluation process was rapid and focused on minimum viable product that could leverage out-of-thebox capabilities as much as possible to achieve speed to value. The announcement was made during market hours yesterday, 6 June 2018.

Majesco Cloudlnsurer platform leverages Majesco's experience with over 35 cloud customers, providing a business platform with broad appeal for all insurers from greenfields, new start-ups and incubators to mid-market and tier one insurers.

Prateek Kumar, EVP for the P&C Business for Majesco said that this startup is part of a growing number of new greenfields and startups that are aggressively executing strategies to capture new market opportunities focused on rapid launch.

HCL Infosystems rose 3.35%. Apple India said that the distribution agreement for iPhone and other Apple products with HCL Infosystems will end on 30 March 2019. The announcement was made during market hours yesterday, 6 June 2018.

On the macro front, the Indian economy will see a robust GDP growth of 7.3% in 2018-19 and 7.5% for the next two as factors holding back growth in India fade, the World Bank has forecast. India's economy is robust, resilient and has potential to deliver sustained growth, Ayhan Kose, Director of the Development Prospects Group at the World Bank, told the media. Growth in India is projected to advance 7.3% in FY 2018-19 (1 April 2018-31 March 2019) and 7.5% in FY 2019-20, reflecting robust private consumption and strengthening investment, the bank said in its June 2018 edition of the Global Economic Prospect report. The report, released on Wednesday, is the global lender's flagship publication on the state of the world economy.

Overseas, Europe stocks rose while Asian equities settled higher, boosted by an overnight rally in US stocks, which saw the Dow Jones industrial average close above 25,000.

In US, the Dow Jones Industrial Average recorded its best daily gain since mid April as a rally in bank shares amplified a broad-market run-up that has been supported by gains in internet and technology shares. Market participants attributed Wednesday's rally to rising government bond rates. Higher rates tend to benefit the business of financials.

A rise in the yield of the benchmark 10-year Treasury note was supported by remarks from European Central Bank (ECB) senior officials, which showed the central bank remained on track to debate the timetable for ending its asset purchases soon.

Underlying strength in the euro area economy was making ECB confident that inflation will move toward target. The institution would next week discuss how it will wind down its 30 billion euro (about $35 billion) monthly-purchase program.

On the data front, the US trade deficit shrank 2.1% in April and tumbled to a seven-month low. Meanwhile, the productivity of American businesses rose at a revised 0.4% annual pace in the first quarter instead of 0.7% as originally reported. Output—or goods and services produced—climbed 2.7% instead of 2.8%, while unit-labor costs, or how much it costs to make each product, rose by 2.9%, a bit higher than the preliminary 2.7% estimate.

Domestic stocks logged modest gains in steady session of trade after the central bank maintained its neutral stance while raising repo rate by 0.25%. The barometer index, the S&P BSE Sensex, gained 275.67 points or 0.79% to settle at 35,178.88. The Nifty 50 index rose 91.50 points or 0.86% to 10,684.65. The Sensex settled above the psychologically important 35,000 mark after regaining that level in morning trade.

All the six members of RBI's monetary policy meeting have voted in favour of a rate hike, while maintaining a neutral stance today, 6 June 2018. On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.25%.

Consequently, the reverse repo rate under the LAF stands adjusted to 6%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.50%. The decision of the MPC is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth.

The barometer index, the S&P BSE Sensex, gained 275.67 points or 0.79% to settle at 35,178.88, its highest closing level since 1 June 2018. The Sensex rose 327.33 points, or 0.94% at the day's high of 35,230.54 in mid-afternoon trade. The index fell 6.84 points, or 0.02% at the day's low of 34,896.37 in early trade.

The Nifty 50 index rose 91.50 points or 0.86% to 10,684.65, its highest closing level since 1 June 2018. The Nifty rose 105.20 points, or 0.99% at the day's high of 10,698.35 in mid-afternoon trade. The index fell 5.65 points, or 0.05% at the day's low of 10,587.50 in early trade.

Among secondary barometers, the BSE Mid-Cap index rose 1.28%. The BSE Small-Cap index rose 1.53%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1668 shares rose and 967 shares fell. A total of 122 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Consumer Durables index (up 2.32%), the S&P BSE Metal index (up 1.72%), the S&P BSE Auto index (up 1.57%) outperformed the Sensex. The S&P BSE Oil & Gas index (up 0.25%), the S&P BSE Bankex (up 0.57%), the S&P BSE IT index (up 0.97%) underperformed the Sensex.

Bharti Airtel (up 4.55%), Sun Pharmaceutical Industries (up 3.21%) and Coal India (up 1.98%) were the major Sensex gainers.

Most private sector bank stocks rose. RBL Bank (up 0.91%), Yes Bank (up 0.7%), IndusInd Bank (up 0.55%), Axis Bank (up 0.08%), Federal Bank (up 1.09%) and Kotak Mahindra Bank (up 0.9%) edged higher. ICICI Bank (down 0.04%), HDFC Bank (down 0.07%) fell.

Public sector banks were in demand. Allahabad Bank (up 8.82%), Indian Bank (up 5.65%), Union Bank of India (up 3.73%), Syndicate Bank (up 3.18%), Andhra Bank (up 2.53%), Punjab National Bank (up 2.36%), Bank of India (up 2.78%), Dena Bank (up 1.29%), Canara Bank (up 2.76%), State Bank of India (up 2.43%) and Bank of Baroda (up 2.03%) rose.

Auto stocks rose after the Reserve Bank of India hiked the policy repo rate by 25 basis points while maintaining its neutral stance. Purchases of automobiles, including that of cars, utility vehicles and commercial vehicles are substantially driven by financing.

Tata Motors (up 3.56%), Ashok Leyland (up 1.64%), Maruti Suzuki India (up 0.69%), Bajaj Auto (up 1.78%), Escorts (up 0.91%), Mahindra & Mahindra (M&M) (up 1.42%), Eicher Motors (up 2.2%), Hero MotoCorp (up 1.2%) and TVS Motor Company (up 0.33%) gained.

Realty stocks rose after the Reserve Bank of India hiked the policy repo rate by 25 basis points while maintaining its neutral stance. Purchases of both residential and commercial property are largely driven by finance.

Peninsula Land (up 10.77%), Indiabulls Real Estate (up 2.81%), Unitech (up 2.45%), Godrej Properties (up 2.76%), Phoenix Mills (up 0.43%), DLF (up 0.63%) and Oberoi Realty (up 1.63%) edged higher. Prestige Estates Projects (up 1.03%) and Housing Development and Infrastructure (4.39%) fell.

State-run NMDC rose 1.29%. The company's production & sales of iron ore on a provisional basis upto May 2018 was 4.53 million tonnes. The announcement was made after market hours yesterday, 5 June 2018.

Cadila Healthcare rose 0.39% after the company announced that the USFDA has completed inspection of company's wholly-owned subsidiary with no observation. The announcement was made before market hours today, 6 June 2018.

Cadila Healthcare said that the USFDA has inspected the manufacturing facility of wholly- owned subsidiary, Alidac Pharmaceuticals, located at SEZ, Ahmedabad from 28 May 2018 to 5 June 2018. At the end of the inspection, no observation (483)is issued. The site manufactures oncology injectables for the regulated markets.

CG Power and Industrial Solutions rose 3.42%. The company bagged an order from the Indian Railways valued at Rs 319 crore to supply Under Slung Electrics for Diesel Electric Tower Car (DETC). Large quantities of DETCs are required for massive track electrification drive taken up by Indian Railways across the country. More than 1000 DETCs shall be required for electrification and thereafter for inspection and maintenance in the coming years. The announcement was made after market hours yesterday, 5 June 2018.

Overseas, European stocks edged higher, underpinned by gains in tech and commodity-related stocks, although trading was cautious amid worries over Italian debt and global trade. Asian stocks were mixed as investors digested trade-related developments and the mixed close on Wall Street. Markets in South Korea were closed on Wednesday.

Media reports suggested that China would buy nearly $70 billion worth of US agriculture and energy products if the Trump administration steps back from tariffs. The US-China talks focused on reducing the United States' $375.20 billion trade deficit with China by facilitating the supply of agricultural and energy products to meet China's growing consumption needs.

In US, the Nasdaq Composite Index registered its second record close in a row Tuesday on the back of a rally in the shares of technology and internet giants. However, the Dow lagged as the stocks of slumping financials and consumer-staples weighed on the blue-chip gauge.

On the data front, the Markit services purchasing managers index for the US in May rose to 56.8 from 54.6. The Institute for Supply Management services index rose to 58.6 in May from 56.8, while a reading of job openings rose to a fresh record in April, reaching 6.7 million after 6.63 million in March.

Domestic stocks ended a volatile session of trade with modest losses. The barometer index, the S&P BSE Sensex, fell 108.68 points or 0.31% to settle at 34,903.21. The Nifty 50 index fell 35.35 points or 0.33% to settle at 10,593.15. The Sensex settled below the psychologically important 35,000 mark. A survey showing services activity in May shrank for the first time in three months as new orders stagnated dampened sentiment.

Sentiment was hurt after a survey showed services activity in May shrank for the first time in three months as new orders stagnated. Caution prevailed ahead of the central bank's policy decision on Wednesday. The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meets between 4-6 June 2018 for the second bi-monthly monetary policy statement for 2018-2019. The resolution of the MPC will be unveiled at 14:30 pm on Wednesday, 6 June 2018.

The indices displayed some volatility in early trade and later slipped into negative terrain in morning trade. Indices hit fresh intraday low in mid-morning trade. Indices sharply pared losses in early afternoon trade. The indices hit fresh intraday low in mid-afternoon trade.

The barometer index, the S&P BSE Sensex, fell 108.68 points or 0.31% to settle at 34,903.21. The Sensex rose 61.23 points, or 0.17% at the day's high of 35,073.12 in early trade. The index fell 227.21 points, or 0.65% at the day's low of 34,784.68 in mid-afternoon trade.

The Nifty 50 index fell 35.35 points or 0.33% to settle at 10,593.15. The Nifty rose 4.65 points, or 0.04% at the day's high of 10,633.15 in early trade. The index fell 77.60 points, or 0.73% at the day's low of 10,550.90 in mid-afternoon trade.

Broader market declined sharply. Among secondary barometers, the BSE Mid-Cap index fell 1.20%. The BSE Small-Cap index fell 2.43%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was weak. On BSE, 483 shares rose and 2216 shares fell. A total of 107 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Capital Goods index (down 1.96%), the S&P BSE Teck index (down 1.58%), the S&P BSE IT index (down 1.52%) underperformed the Sensex. The S&P BSE Oil & Gas index (up 0.1%), the S&P BSE Bankex (down 0.22%) and the S&P BSE Auto index (down 0.35%), outperformed the Sensex.

Reliance Industries (up 0.9%), Tata Steel (up 0.88%), HDFC (up 0.78%), Maruti Suzuki India (up 0.69%) and HDFC Bank (up 0.68%) were the major Sensex gainers.

Coal India (down 2.36%), Bharti Airtel (down 2.16%), Dr Reddy's Laboratories (down 1.87%) and Yes Bank (down 1.84%) were the major Sensex losers.

Capital goods stocks edged lower. ABB India (down 2.52%), Bharat Heavy Electricals (Bhel) (down 2.66%), BEML (down 3.29%), Bharat Electronics (up 0.8%), L&T (down 1.93%), Punj Lloyd (down 3.4%), Siemens (down 2.77%), Thermax (down 1.63%) declined.

IndusInd Bank rose 0.24%. Bharat Financial Inclusion rose 0.66%. IndusInd Bank today announced that it has received 'no-objection' from National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE) for the proposed merger of Bharat Financial Inclusion (BFIL) with IndusInd Bank, following comments received from the Securities and Exchange Board of India (Sebi). The announcement was made during market hours today, 5 June 2018.

IndusInd Bank received “No-objection” from NSE on Friday, 1 June 2018, and from BSE on Monday, 4 June 2018. The “No-objection” is based on the draft scheme and other documents submitted by the bank.

On 13 March 2018, IndusInd Bank received “No Objection” from the Reserve Bank of India for the proposed merger of BFIL with IndusInd Bank. The merger had received the approval of the Competition Commission of India on 19 December 2017.

FMCG major Hindustan Unilever (HUL) rose 0.11%. The company announced during trading hours today, 5 June 2018, that it will be integrating the Foods and Refreshments categories in South Asia, effective 1 July 2018. This integration will help HUL increase organisational agility and better serve local consumers while harnessing the advantage of global scale. The integration of these two categories is also in alignment with the structure of Unilever globally. The company has also announced some key changes in the management committee.

Sudhir Sitapati, presently executive director, Refreshments, will be re-designated as Executive Director, Foods & Refreshment, and will be responsible for the integrated Foods and Refreshments (F&R) business. He will continue to be a part of the Management Committee of HUL. Geetu Verma, who is the currently the executive director, Foods, India, will be moving to Rotterdam as Global VP - Nutrition & Natural Platforms, Unilever. This is a new role designed to grow Unilever's presence in the Health and Wellbeing sector.

The foods & refreshments business has delivered consistent growth in India. It lends significant scale to Unilever in the region and will continue to be a strategic priority for the business. The company believes this integration will help drive synergies, become more agile and more consumer-centric, HUL said in a statement.

Idea Cellular lost 9.96%. The company said that it has received approval on its application to increase Foreign Direct Investment (FDI) limit in the company to 100%, from the current 67.5%, from the Department of Telecom (DoT). The approval is for total foreign investment upto 100% in Idea Cellular, and total indirect FDI in its relevant subsidiaries - Aditya Birla Telecom and Idea Cellular Infrastructure Services. The announcement was made after market hours yesterday, 4 June 2018.

The FDI approval is a major milestone in the merger process of Vodafone India with Idea Cellular, and follows other statutory approvals already received from the Sebi, NSE, BSE, CCI and NCLT Mumbai and NCLT Ahmedabad. The merger of Vodafone India with Idea Cellular is in the final leg of regulatory approvals and is expected to complete in H1CY18, subject to the final approval from the DoT.

Biocon lost 7.09% in volatile trade. Biocon and Mylan N.V announced that the US Food and Drug Administration (FDA) has approved Mylan's FulphilaTM (pegfilgrastim-jmbd), a biosimilar to Neulasta (pegfilgrastim), co-developed with Biocon. Fulphila has been approved to reduce the duration of febrile neutropenia (fever or other signs of infection with a low count of neutrophils, a type of white blood cells) in patients treated with chemotherapy in certain types of cancer. The announcement was made before market hours today, 5 June 2018.

Fulphila is the first FDA-approved biosimilar to Neulasta and the second biosimilar from Mylan and Biocon'sjoint portfolio approved in the US. Mylan anticipates launching Fulphila in the coming weeks, representing the first alternative, more affordable treatment option to Neulasta for oncology patients. A suite of patient services also will be available at launch to further support patients and caregivers with treatment. Neulasta had US sales of $4.2 billion for the 12 months ended 31 March 2018, according to IQVIA.

Mylan and Biocon are exclusive partners on a broad portfolio of biosimilar and insulin products. Biosimilar to Neulasta is one of 11 biologic and insulin products co-developed by Mylan and Biocon for the global marketplace. Mylan has exclusive commercialization rights for the product in the US, Canada, Japan, Australia, New Zealand and in the European Union and European Free Trade Association countries. Biocon has co-exclusive commercialization rights with Mylan for the product in the rest of the world.

Sunteck Realty fell 1.36%. The company said that its board of directors has approved a proposal for an increase in the investment limits by Registered Foreign Portfolio Investors (RFPIs) including Foreign Institutional Investors (FIIs) from the existing limit of 24% to 49% of the paid up equity share capital of the company. The increase will make available more limits for the RFPIs/ FIIs to invest in the equity share capital of the company. The announcement was made after market hours yesterday, 4 June 2018.

On the macro front, the Nikkei India Services Business Activity Index fell to 49.6 last month from 51.4 in April. A reading below 50 indicates contraction in activity, while a number above it signals expansion. Services activity in the country fell below the 50-point-mark for the first time since February, when the Index reading stood at 47.8.

Overseas, most European shares were trading higher. Asian markets reversed early losses and settled higher. US market posted strong gains Monday, led by a rally in the technology and consumer discretionary sectors, as traders appeared to shrug off global trade tensions and focused on a favorable economic backdrop instead.

US factory orders fell by 0.8% in April. The decline was concentrated in commercial aircraft. Orders for nondurable goods rose slightly. The increase in factory orders in March, meanwhile, was raised a tick to 1.7%.

Domestic stocks settled with modest losses on first trading day of the week led by slide in banking and realty stocks. The barometer index, the S&P BSE Sensex, fell 215.37 points or 0.61% to settle at 35,011.89. The Nifty 50 index fell 67.70 points or 0.63% to settle at 10,628.50. The Sensex settled a tad above the psychological 35,000 level after sliding below that level in late trade.

Investors remained on the sidelines ahead of Reserve Bank of India's (RBI) monetary policy review meeting. The RBI's Monetary Policy Committee (MPC) meets between 4-6 June 2018 for the second bi-monthly monetary policy statement for 2018-2019. The resolution of the MPC will be unveiled at 14:30 pm on Wednesday, 6 June 2018.

After opening higher, indices declined in morning trade. Indices recovered and hovered near flat line in early afternoon trade. Shares hit fresh intraday low in late trade as selling intensified.

The barometer index, the S&P BSE Sensex, fell 215.37 points or 0.61% to settle at 35,011.89, its lowest closing level since 30 May 2018. The Sensex rose 328.33 points, or 0.93% at the day's high of 35,555.59 in early trade. The index fell 245.01 points, or 0.70% at the day's low of 34,982.25 in late trade.

The Nifty 50 index fell 67.70 points or 0.63% to settle at 10,628.50, its lowest closing level since 30 May 2018. The Nifty rose 74.10 points, or 0.69% at the day's high of 10,770.30 in early trade. The index fell 77.85 points, or 0.73% at the day's low of 10,618.35 in late trade.

Among secondary barometers, the BSE Mid-Cap index fell 0.82%. The BSE Small-Cap index fell 2.09%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was weak. On BSE, 563 shares rose and 2,127 shares fell. A total of 182 shares were unchanged.

Bharti Airtel (down 2.77%), Adani Ports and Special Economic Zone (down 2.47%), Power Grid Corporation of India (down 2.06%), Hindustan Unilever (down 1.73%) and ONGC (down 1.71%) were the major Sensex losers.

Infosys (up 1.59%), Mahindra & Mahindra (up 1.27%), Tata Steel (up 1.18%), Reliance Industries (up 1.09%) and TCS (up 0.71%) were the major Sensex gainers.

Bank stocks declined. Among private bank stocks, HDFC Bank (down 2.99%), Kotak Mahindra Bank (down 1.13%), ICICI Bank (down 1.14%), Axis Bank (down 0.2%) and IndusInd Bank (down 0.93%) declined. Yes Bank (up 0.22%) rose.

Among PSU bank stocks, Andhra Bank (down 3%), State Bank of India (SBI) (down 1.37%), Bank of Baroda (down 4%), Canara Bank (down 0.9%), IDBI Bank (down 4.38%), Bank of India (down 2.12%) and Union Bank of India (down 1.57%) dropped. Punjab National Bank (up 0.36%) rose.

Dr Reddy's Laboratories gained 2.86% after the company announced that the audit of its API Srikakulam Plant (SEZ), Andhra Pradesh by the USFDA, has been completed with no observations. The announcement was made on Saturday, 2 June 2018.

Hero MotoCorp shed 0.32%. The company said its total sales rose 11% to 7.06 lakh units in May 2018 over May 2017. The announcement was made after market hours on Friday, 1 June 2018.

Sustaining strong sales momentum, Hero MotoCorp has continued to further consolidate its domestic market leadership with an all-time high sales for the month of May. During the month, Hero MotoCorp showcased its new offering in the premium segment-the Xtreme 200R. This motorcycle is slated for launch in the second quarter of this fiscal.

With the forecast of a good monsoon this year, there is expectation of an uptick in market demand in the later part of the year, leading to a sustained momentum in the positive turnaround in sentiments across the country, Hero MotoCorp said. The company is well placed to leverage that with the upcoming introduction of its new motorcycles and scooters during the year, it added.

Realty shares declined. Peninsula Land (down 5.9%), Housing Development and Infrastructure (HDIL) (down 6.7%), Prestige Estates Projects (down 4.13%), Indiabulls Real Estate (down 4.58%), D B Realty (down 4.45%), Unitech (down 3.39%), DLF (down 3.79%), Sobha (down 1.76%), Godrej Properties (down 2.25%), Parsvnath Developers (down 1.84%) and Oberoi Realty (down 0.74%) edged lower.

Cadila Healthcare fell 0.37%. Zydus Cadila has received the final approval from the USFDA to market Doxycycline HyclateCapsulesUSP, 50mg and 100mg. It is atetracycline antibiotic used for treatment of a wide variety of bacterial infections, including those that cause acne. This medication is also used for prophylaxis of malaria. It will be manufactured at the group's manufacturing facility at SEZ, Ahmedabad. The announcement was made on Saturday, 2 June 2018.

Whirlpool of India rose 0.1% after the company announced strategic joint venture with Elica to expand cooking business. The announcement was made on Saturday, 2 June 2018.

Whirlpool of India's board of directors approved a proposal to enter into a strategic joint venture with Elica and acquire 49% equity in Elica PB India. As part of the Joint Venture, Elica PB India will manufacture and distribute cooking and built-in appliances under the Whirlpool brand in India. Elica PB India is a subsidiary of Elica SpA Italy and has been operating in India since 2010. The parties expect the transaction to close in the second half of 2018.

Sunil D'Souza, Managing Director of Whirlpool of India said the cooking and built-in appliance space is poised for very strong growth in India based on increasing consumer demand. Whirlpool aims to expand its portfolio of innovative products with Elica's impressive capabilities in consumer insights, design, manufacturing and also broaden its distribution.

Dilip Buildcon rose 0.9% after the company received letter of award from National Highways Authority of India for a new hybrid annuity project valued at Rs 1313.90 crore in Karnataka. Dilip Buildcon said that the order is for four laning of Bellary to Byrapura Section of NH-150A on Hybrid Annuity Mode under Bharatmala Pariyojana in Karnataka on Hybrid Annuity Mode Pkg - 1. The construction period of the project is 24 months. The announcement was made on Saturday, 2 June 2018.

Shivam Autotech rose 2.66% after the company announced that it has achieved about 8% increase in sales in May 2018 over May 2017. The announcement was made after market hours on Friday, 1 June 2018.

Overseas, European stocks were trading higher as optimism for the world's largest economy helped investors put concerns over protectionism to one side. Asian stocks were trading higher, tracking gains seen on Wall Street on Friday, 1 June 2018. US stock-market indices jumped on Friday, following a solid jobs data for May, while shrugging off concerns over Italian politics and trade wars.

Despite the positive mood, trade concerns continued to linger after US-China trade talks yielded no major breakthroughs. China threatened that previous trade agreements negotiated by the countries will not take effect if the Trump administration goes ahead with a planned tariff increase.

US allies also took aim during a G-7 finance leaders meeting at metals tariffs imposed by the Trump administration.

On the US data front, the Institute for Supply Management said Friday that its manufacturing index rose to 58.7%, up 1.4% from April and a two-month high.

The US labor market remains strong with 223,000 new jobs created in May, while the unemployment rate fell to an 18-year low of 3.8%. Wage growth was modest, with the yearly rate of pay rising to 2.7% from 2.6%. Receding fears about political upheaval in Italy also helped boost sentiment.

Key benchmark indices logged modest losses on last trading day of the week weighed by data showing manufacturing PMI growth has slowed in May. The barometer index, the S&P BSE Sensex, lost 95.12 points or 0.27% to settle at 35,227.26. The Nifty 50 index lost 39.95 points or 0.37% to settle at 10,696.20. Auto stocks gained after declaring good sales volume data for May 2018. Power generation stocks fell.

Intraday volatility was high. Stocks nudged higher in early trade following good GDP data announced by the government after market hours yesterday, 31 May‎ 2018. Stocks hovered in a small range in morning trade. Key benchmark indices turned range-bound in mid-morning trade amid divergent trend in index pivotals. Indices hovered in a small range till mid-afternoon trade. Stocks extended losses in late trade.

The barometer index, the S&P BSE Sensex, lost 95.12 points or 0.27% to settle at 35,227.26. The index hit high of 35,438.22 and low of 35,177.35 during the day.

The Nifty 50 index lost 39.95 points or 0.37% to settle at 10,696.20. The index hit high of 10,764.75 and low of 10,681.50 during the day.

The S&P BSE Mid-Cap index fell 1.01%. The S&P BSE Small-Cap index fell 1.57%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was weak. On the BSE, 715 shares rose and 1984 shares fell. A total of 126 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Power index (down 1.89%), the S&P BSE Utilities index (down 1.68%), the S&P BSE Basic Materials index (down 1.26%), the S&P BSE Realty index (down 1.07%), the S&P BSE IT index (down 0.94%), the S&P BSE Industrials index (down 0.79%), the S&P BSE Metal index (down 0.78%), the S&P BSE Bankex (down 0.75%), the S&P BSE Finance index (down 0.73%), the S&P BSE Teck index (down 0.73%), the S&P BSE Capital Goods index (down 0.67%), the S&P BSE FMCG index (down 0.67%), the S&P BSE Oil & Gas index (down 0.6%), the S&P BSE Consumer Durables index (down 0.46%), the S&P BSE Healthcare index (down 0.44%) and the S&P BSE Consumer Discretionary Goods & Services index (down 0.37%), underperformed the Sensex.

The S&P BSE Energy index (up 0.18%), the S&P BSE Telecom index (up 0.43%) and the S&P BSE Auto index (up 0.67%), outperformed the Sensex.

Tata Steel (down 2.62%), ONGC (down 2.48%) and Hindustan Unilever (down 1.96%) were the key losers from the Sensex pack.

Bharti Airtel (up 2.73%), RIL (up 0.86%) and HDFC (up 0.81%) were the key gainers from the Sensex pack.

Auto stocks gained after declaring good sales volume data for May 2018. Ashok Leyland (up 1.69%), Escorts (up 0.38%) and TVS Motor Company (up 1.77%) rose.

Bajaj Auto jumped 5.13% after the company reported a 24% growth in its total vehicles sales at 3.42 lakh units in May 2018 over May 2017. Bajaj Auto's domestic sales rose 23% to 1.92 lakh units. Exports surged 24% to 1.50 lakh units. The announcement was made during market hours today, 1 June 2018.

Hero MotoCorp gained 2.25%. The company's sales rose 11% to 7.06 lakh units in May 2018 over May 2017. Sustaining strong sales momentum, Hero MotoCorp has continued to further consolidate its domestic market leadership with an all-time high sales for the month of May. The announcement was made after market hours today, 1 June 2018.

Tata Motors rose 1.52%. In May 2018, Tata Motors registered a strong growth of 58% at 54,295 units as against 34,461 units over last year due to the continued strong sales performance of its commercial and passenger vehicles businesses in the domestic market. The announcement was made during market hours today, 1 June 2018.

Tata Motors' commercial vehicles (CV) domestic sales in May 2018 were at 36,806 units, an increase of 56% compared to 23,606 units in May 2017. Tata Motors' passenger vehicles (PV) domestic sales were at 17,489 units, a growth of 61%, compared to 10,855 units in May 2017. The company's sales from exports (from CV and PV) in May 2018 was at 3,699 units as against 3,900 units in May 2017.

Maruti Suzuki India rose 3.01% after the company said that its total sales rose 26% to 1.72 lakh units in May 2018 over May 2017. Maruti Suzuki India said total domestic sales rose 24.9% to 1.63 lakh units, while total exports rose 48.1% to 9,312 units in May 2018 over May 2017. The announcement was made during trading hours today, 1 June 2018.

In a separate announcement after market hours yesterday, 31 May 2018, Maruti Suzuki India said it crossed the mark of 3-lakh cumulative sale of cars with the acclaimed auto gear shift technology.

With the auto gear shift (AGS) becoming popular among the customers, Maruti Suzuki aims to achieve the feat of over 2-lakh sales in the current fiscal year. The contribution of cars with AGS variant to the company's total sales has tripled since its introduction in 2014. At present, Maruti Suzuki offers AGS in seven models in its range, including bestsellers like Alto K10, WagonR, Celerio, Swift, IGNIS and Dzire. In May 2018, Vitara Brezza became the latest offering with AGS technology from Maruti Suzuki.

Mahindra & Mahindra (M&M) lost 2.38%. M&M's total auto sales rose 12% to 46,849 units in May 2018 over May 2017. Total domestic sales grew by 8% and total exports surged 134%. The company's total tractor sales surged 14% to 25,749 units in May 2018 over May 2017. Domestic tractor sales rose 14% while exports rose 9%. The sales volumes were announced during market hours today, 1 June 2018.

Eicher Motors lost 2.8%. As per motorcycles sales data, overall sales rose 23% to 74,697 units in May 2018 over May 2017. The announcement was made during trading hours today, 1 June 2018.

Private sector banking major HDFC Bank lost 1.25% to Rs 2,109.55 on profit booking. The stock had gained 4.36% to settle at Rs 2,136.15 yesterday, 31 May 2018.

Another private sector banking major ICICI Bank advanced 1.37% to Rs 289.50. In reply to media reports, ICICI Bank board denied having asked Chanda Kochhar to go on leave. She is on her annual leave which was planned in advance. Further, the board denied that it has appointed any search committee to find her successor. The announcement was made during market hours today, 1 June 2018.

IT major Infosys fell 0.95%. The company announced an expansion of its relationship with Microsoft to accelerate the digital transformation of enterprise clients. Infosys has launched a new Microsoft Cloud Business Unit that will focus on the comprehensive cloud needs of enterprises - from infrastructure to business applications. The announcement was made after market hours yesterday, 31 May 2018.

The unit at Infosys will consist of a central pool of trained consultants, architects and specialist sales team that will be aligned to four core solution areas - modern workplace, business applications, application development & infrastructure and data & analytics. The new unit is chartered to develop and deliver integrated experiences, solutions and services spanning Microsoft Azure, Microsoft Office 365, Windows 10 and Microsoft Dynamics 365.

Power generation stocks fell. Power Grid Corporation of India (down 1.46%), Reliance Power (down 3.16%), Reliance Infrastructure (down 1.57%), NTPC (down 1.62%), Jaiprakash Power Ventures (down 4.57%), Adani Power (down 2.97%)and JSW Energy (down 7.8%) edged lower. Torrent Power (up 2.35%) rose.

Idea Cellular was unchanged at Rs 61.65. The company announced completion of sale of its pan-India standalone tower business, by way of divesting its entire stake in ICISL (100% subsidiary of Idea), to ATC Telecom Infrastructure (ATC). The transaction has been closed with an enterprise value of Rs 4000 crore for approximately 9,900 standalone towers.

Vodafone's sale of its standalone tower business to ATC has already been completed earlier for an enterprise value of Rs 3850 crore. With this, both Idea and Vodafone India have now monetised the standalone tower assets for a total enterprise value of Rs 7850 crore, as per the timelines provided at the time of the announcement in November 2017, strengthening the financial position of the merged entity. The announcement was made after market hours yesterday, 31 May 2018.

Cochin Shipyard fell 1.56%. Cochin Shipyard said Government of Kerala has signed an agreement with the company for construction of three marine ambulance boat for fisheries department. Marine ambulances will be used for the rescue and instant treatment to the marine fishermen in distress. Cochin Shipyard presently has a robust order book in ship-building and ship-repair. The announcement was made after market hours yesterday, 31 May 2018.

PNC Infratech fell 1.13%. PNC Infratech has been declared the L1 (lowest) bidder for the 54.40 km long 4th package of Nagpur-Mumbai Six Lane Access Controlled Super Communication Expressway (Maharashtra Samruddhi Mahamarg) on engineering procurement construction (EPC) basis for a quoted price of Rs 2099.52 crore. The price bids were opened on 31 May 2018, with PNC's bid being the lowest (L1). Maharashtra State Road Development Corporation (MSRDC) is the proponent for this 700 km long Green Field Expressway project comprising 16 individual packages. Construction of the project is to be completed in 30 months. The announcement was made after market hours yesterday, 31 May 2018.

On the macro front, activity in India's manufacturing sector grew at a weaker pace in May from the previous month, a survey showed on Friday. The Nikkei India Purchasing Managers Index fell to 51.2 in May from 51.6 in the previous month, data released during market markets today, 1 June 2018 showed. A reading below 50 indicates contraction in activity, while a number above it signals expansion.

India's GDP rose at 7.7% in the fourth quarter of 2017-18 compared with 6.1% in the same period last year, and a revised 7% in the quarter ended December, government data released after market hours yesterday, 31 May 2018 showed. For the full financial year, GDP grew at 6.7% compared with 7.1% in the previous year.

The combined Index of eight core industries stands at 124.2 in April, 2018, which was 4.7% higher as compared to the index of April 2017, government data released after market hours yesterday, 31 May 2018 showed. Its cumulative growth during April to March, 2017-18 was 4.3%. The eight core industries comprise 40.27% of the weight of items included in the index of industrial production (IIP).

Overseas, European shares were trading higher as Italian stocks led the pack after a coalition deal appeared to end three months of political deadlock.

Asian stocks were mixed after the Trump administration's tariffs on imports from key allies sent US stocks into a tailspin. Activity in China's factories held steady in May, a private gauge indicated, pointing to a sustained growth momentum in the world's second largest economy. The Caixin China manufacturing purchasing managers' index held steady at 51.1 in May, buoyed by a pick-up in production and new orders, Caixin Media Co. and research firm Markit said Friday.

US stocks fell yesterday, 31 May 2018 as the president's escalation of trade tensions with Canada, Mexico and the European Union hammered American industrial and financial shares. The Trump administration announced it's imposing a 25% tariff on steel imports and a 10% tariff on aluminium imports from the European Union, Canada and Mexico effective midnight Friday.

Key equity benchmarks logged strong gains on buying frenzy in index pivotals led by HDFC Bank, HDFC and Infosys. The barometer index, the S&P BSE Sensex, rose 416.27 points or 1.19% to settle at 35,322.38. The Nifty 50 index rose 121.80 points or 1.15% to settle at 10,736.15. The Sensex settled well above the psychological 35,000 level after moving above and below that level in intraday trade. Positive global stocks boosted sentiment.

Domestic stocks drifted higher in early trade on positive Asian stocks. The Sensex regained the psychological 35,000 level in opening trade. Key benchmark indices trimmed gains in morning trade. Volatility ruled the roost as stocks once again gained strength in mid-morning trade. Indices marched higher in afternoon trade. Key equity benchmarks held firm in mid-afternoon trade. Buying frenzy in late trade propelled indices to fresh intraday high.

Trading was highly volatile during the day as traders rolled over positions in the F&O segment from the near month May 2018 series to June 2018 series. The May 2018 F&O contracts expired today, 31 May 2018.

The Sensex rose 416.27 points or 1.19% to settle at 35,322.38, its highest closing level since 16 May 2018. The index rose 509.92 points, or 1.46% at the day's high of 35,416.03. The index rose 19.97 points, or 0.06% at the day's low of 34,926.08.

The Nifty 50 index rose 121.80 points or 1.15% to settle at 10,736.15, its highest closing level since 16 May 2018. The index rose 149.45 points, or 1.41% at the day's high of 10,763.80. The index rose 6.05 points, or 0.06% at the day's low of 10,620.40.

Broader market depicted weakness. The S&P BSE Mid-Cap index fell 0.24%. The S&P BSE Small-Cap index fell 0.57%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was weak. On the BSE, 995 shares rose and 1655 shares fell. A total of 138 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Consumer Durables index (down 0.97%), the S&P BSE Realty index (down 0.85%), the S&P BSE Healthcare index (down 0.83%), the S&P BSE Capital Goods index (down 0.63%), the S&P BSE Industrials index (down 0.58%), the S&P BSE Telecom index (down 0.48%), the S&P BSE Basic Materials index (down 0.41%), the S&P BSE Power index (down 0.36%), the S&P BSE Metal index (down 0.34%), the S&P BSE Auto index (down 0.3%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.16%), the S&P BSE Utilities index (up 0.43%), the S&P BSE Teck index (up 0.54%), the S&P BSE FMCG index (up 0.58%), the S&P BSE IT index (up 0.75%), the S&P BSE Energy index (up 0.80%) and the S&P BSE Oil & Gas index (up 1.17%), underperformed the Sensex. The S&P BSE Finance index (up 1.71%) and the S&P BSE Bankex (up 1.91%), outperformed the Sensex.

Index heavyweight and housing finance major HDFC rose 1.99% to Rs 1,828.50.

Index heavyweight and IT major Infosys rose 1.47% to Rs 1,231.90.

Private sector banks rose. City Union Bank (up 7.31%), IndusInd Bank (up 3.14%), Kotak Mahindra Bank (up 2.68%), Yes Bank (up 0.89%), Axis Bank (up 0.63%) and edged higher. Federal Bank (down 1.16%) and RBL Bank (down 1.87%), edged lower.

HDFC Bank rose 4.36% as the counter witnessed robust buying ahead of the opening of FII buying window on 1 June 2018. According to media reports, the Sebi decided to open the window for institutional trading series (6 lakh series) just for a day on 1 June 2018. This is popularly known as the FII Trading Window - when stocks get into FII restriction, there is a separate window on which only FIIs trade so that FIIs still have the option of buying the stock. Since the buyer will be purchasing from another FII, it ensures that there is no change in FII shareholding. For stocks in demand this usually leads to an FII premium.

ICICI Bank rose 0.12%. The bank announced that it will start an enquiry into whistleblower complaint. The announcement was made after market hours yesterday, 30 May 2018.

The board of directors, at its meeting held on 29 May 2018, decided to institute an enquiry to be headed by an independent and credible person, to examine and enquire into an anonymous whistle blower complaint, disclosing certain information, alleging in substance that bank's MD & CEO had not adhered to provisions relating to Code of Conduct of the bank and legal and regulatory provisions relating to conflict of interest over a period of time, as also alleging quid pro quo in the course of her work in dealing with certain customers/borrowers of the bank.

The scope of enquiry would be comprehensive and include all relevant matters arising out of and in the course of examination of the facts and wherever warranted, use of forensics/email reviews and recordal of statements of relevant personnel etc. The enquiry would also cover all connected matters in the course of the investigation to bring the matter to a final close.

In keeping with the Whistle Blower Policy of the bank, the board has mandated its Audit Committee to take all further actions in the matter to operationalize this decision — including in particular, appointment of an independent and credible person as head of the enquiry, determining the terms of reference of the enquiry, the period which will be covered by the enquiry etc. The audit committee will also, in consultation with the head of the enquiry, make arrangements to assist him with independent legal and other professional support as may be required.

Public sector banks were mixed. UCO Bank (down 5.71%), Punjab National Bank (down 2.96%), Bank of India (down 2.33%), Vijaya Bank (down 2.23%), Bank of Baroda (down 1.19%), Bank of Maharashtra (down 0.73%), Corporation Bank (down 0.71%), United Bank of India (down 0.67%), Punjab & Sind Bank (down 0.6%), Andhra Bank (down 0.41%) and IDBI Bank (down 0.15%), edged lower. Syndicate Bank (up 0.10%), Union Bank of India (up 0.44%), Canara Bank (up 0.49%), Allahabad Bank (up 0.60%), State Bank of India (up 0.86%), Indian Bank (up 1.78%) and Central Bank of India (up 1.88%), edged higher.

ONGC rose 1.95%. Net profit of ONGC rose 36.3% to Rs 5915.12 crore on 10.4% increase in net sales to Rs 23969.83 crore in Q4 March 2018 over Q4 March 2017. The net realisation for the quarter stood at $66.71 a barrel, compared to $54.91 a barrel during Q4 March 2017. The result was announced after market hours yesterday, 30 May 2018.

Meanwhile, the company's crude oil production, including condensate, dropped by 3% to 6.2 million tonne during the quarter under review, while during the same period last year, it produced 6.39 MT. The yearly production of crude oil also saw a marginal decline of 0.4%.

Overall gas production during the fourth quarter increased by 2.2% to 6.07 billion cubic meter (bcm), while it was seen at 5.94 bcm during the Q4 March 2017. For the entire financial year 2017-2018, the company's gas production increased by 5.8% to 24.61 bcm.

Ultratech Cement shed 0.18%. The Committee of Creditors (CoC) of Binani Cement (BCL) constituted in accordance with the provisions of the Insolvency and Bankruptcy Code 2016 (Code), in its meeting held on 28 May 2018, approved the resolution plan submitted by UltraTech Cement and has issued a letter of intent (LoI) to the company for acquisition of BCL. Upon consummation of this transaction, Ultratech Cement's cement capacity (including its overseas operations) will stand augmented to 116.15 MTPA including the recently announced acquisition of cement units of Century Textiles & Industries. The announcement was made after market hours yesterday, 30 May 2018.

On the domestic macro front, the government will announce data on first quarter gross domestic product (GDP) today, 31 May 2018. The Indian economy expanded 7.2% year-on-year in the last three months of 2017, from an upwardly revised 6.5% growth in the previous period.

Overseas, most European stocks were trading higher, but trading in May was set to wrap up with auto makers under pressure as the European Union braces for US-imposed tariffs on steel and aluminum. Asian stocks ended higher as elevated concerns over Italy's deepening political crisis showed signs of abating.

China's official nonmanufacturing purchasing managers index, a measure of activity outside factory gates, rose to 54.9 in May from 54.8 in April, the National Bureau of Statistics said on Thursday. An official gauge of China's factory activity rose to an eight-month high in May, due to robust production and demand. The official manufacturing purchasing managers' index climbed to 51.9 from 51.4 in April, according to data from the National Bureau of Statistics released Thursday.

US stocks rebounded yesterday, 30 May 2018, as investors judged the market reaction to Italy's political turmoil overwrought.

Global stocks were battered earlier in the week after Italy's two anti-establishment parties scrapped plans to form a coalition. That raised the prospect of a general election, stoking fears such a vote will effectively be a referendum on the country's euro membership.

A degree of calm, however, returned, with the two anti-establishment parties renewing efforts to form a coalition government rather than force Italy into holding elections for the second time this year.

Key benchmark indices logged small losses in a highly volatile session of trade. The barometer index, the S&P BSE Sensex, fell 43.13 points or 0.12% to settle at 34,906.11. The Nifty 50 index fell 18.95 points or 0.18% to settle at 10,614.35. Markets across the globe were impacted by Italy's political crisis and fresh fears of a trade war between US and China.

Domestic stocks began trading for the day on a downbeat note on weak Asian stocks. Stocks cut losses in morning trade. After a brief intraday pullback, the key benchmark indices once again resumed decline in mid-morning trade on fresh selling in index pivotals. Indices reversed trend after hitting fresh intraday high in afternoon trade. Key benchmark indices cut losses in mid-afternoon trade. Recovery continued in late trade.

The Sensex fell 43.13 points or 0.12% to settle at 34,906.11, its lowest closing level since 24 May 2018. The index rose 68.21 points, or 0.20% at the day's high of 35,017.45. The index fell 214.13 points, or 0.61% at the day's low of 34,735.11.

The Nifty 50 index fell 18.95 points or 0.18% to settle at 10,614.35, its lowest closing level since 25 May 2018. The index rose 15.40 points, or 0.14% at the day's high of 10,648.70. The index fell 74.85 points, or 0.70% at the day's low of 10,558.45.

The S&P BSE Mid-Cap index rose 0.03%, outperforming the Sensex. The S&P BSE Small-Cap index fell 0.19%, underperforming the Sensex.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1,213 shares rose and 1,479 shares fell. A total of 162 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Healthcare index (down 0.77%), the S&P BSE Capital Goods index (down 0.68%), the S&P BSE Industrials index (down 0.65%), the S&P BSE Oil & Gas index (down 0.62%), the S&P BSE Consumer Durables index (down 0.45%), the S&P BSE Telecom index (down 0.22%), the S&P BSE Basic Materials index (down 0.17%), the S&P BSE Realty index (down 0.16%) and the S&P BSE Energy index (down 0.12%), underperformed the Sensex. The S&P BSE Teck index (down 0.11%), the S&P BSE FMCG index (down 0.1%), the S&P BSE Auto index (down 0.09%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.09%), the S&P BSE IT index (down 0.06%), the S&P BSE Finance index (up 0.03%), the S&P BSE Bankex (up 0.11%), the S&P BSE Metal index (up 0.15%), the S&P BSE Power index (up 0.2%) and the S&P BSE Utilities index (up 0.25%), outperformed the Sensex. The S&P BSE Energy index fell 0.12%, matching the Sensex's loss in percentage terms.

Banks shares were mixed. Among private sector banks, Yes Bank (up 1.64%), Kotak Mahindra Bank (up 1.48%), City Union Bank (up 1.04%), HDFC Bank (up 0.69%) and IndusInd Bank (up 0.60%), edged higher. RBL Bank (down 0.6%), Federal Bank (down 0.92%), Axis Bank (down 1.1%) and ICICI Bank (down 1.86%), edged lower.

Among public sector banks, Punjab & Sind Bank (down 3.38%), Vijaya Bank (down 2.66%), Bank of India (down 1.48%), UCO Bank (down 1.48%), Bank of Baroda (down 1.25%), Allahabad Bank (down 0.83%), United Bank of India (down 0.83%), Andhra Bank (down 0.68%), Dena Bank (down 0.6%), Union Bank of India (down 0.5%), Syndicate Bank (down 0.3%) and Canara Bank (down 0.27%), edged lower. Central Bank of India (up 0.21%), IDBI Bank (up 0.23%), Punjab National Bank (up 0.58%), State Bank of India (up 0.76%), Bank of Maharashtra (up 0.81%), Corporation Bank (up 1.63%) and Indian Bank (up 2.38%), edged higher.

Power Grid Corporation of India rose 1.11% after net profit rose 4.6% to Rs 2004.68 crore on 16.5% increase in net sales to Rs 7811.32 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 29 May 2018.

BPCL fell 1.27% on profit booking after a recent rally. Shares of BPCL rose 9.24% in three trading sessions to settle at Rs 405.45 yesterday, 29 May 2018, from its close of Rs 371.15 on 24 May 2018.

BPCL's net profit rose 45.2% to Rs 2673.64 crore on 14.4% increase in net sales to Rs 65239.31 crore in Q4 March 2018 over Q4 March 2017. Average gross refining margin (GRM) was $6.51 per barrel in the fourth quarter, compared with $6.01 per barrel a year earlier. The result was announced after market hours yesterday, 29 May 2018.

D-Link India hit an upper circuit limit of 5% at Rs 96.15 after the company reported net profit of Rs 5.31 crore in Q4 March 2018 compared with net loss of Rs 1.52 crore in Q4 March 2017. D-Link India's net sales rose 20.4% to Rs 182.80 in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 29 May 2018.

Overseas, shares in Europe and Asia dropped as concerns about the repercussions of Italy's political turmoil and the renewal of trade tensions between the US and China gripped financial markets. The prospect that Italy might need a fresh election that could effectively become a referendum on the nation's inclusion in the euro zone rattled markets.

US stocks tumbled yesterday, 29 May 2018 joining a global equity selloff sparked by concern Italy's political woes will destabilise Europe.

On the Federal Reserve front, St. Louis Fed President James Bullard reportedly said early Tuesday in Japan that it was difficult for the US central bank to raise interest rates by a large margin when the Bank of Japan and the European Central Bank were pursuing accommodative policy.

Investors are also keeping an eye on the White House, with the Trump administration giving conflicting signals on talks with North Korea and plowing ahead with plans for tariffs on Chinese goods. On Saturday, 2 June 2018 US Secretary of Commerce Wilbur Ross will reportedly travel to Beijing for more talks with Vice Premier Liu He on topics including ZTE Corp. and trade.

The market declined after a volatile session, weighed by slide in banks stocks. The barometer index, the S&P BSE Sensex, lost 216.24 points or 0.61% at 34,949.24. The Nifty 50 index lost 55.35 points or 0.52% at 10,633.30. The Sensex settled below the psychological 35,000 mark after sliding below that level in intraday trade. Shares of index heavyweight HDFC declined. Negative global cues dampened sentiment.

Domestic stocks nudged lower in early trade on negative Asian stocks. A bout of volatility was seen in morning trade as the key benchmark indices gyrated in positive and negative zone. Key benchmark indices hit fresh intraday high in positive zone in afternoon trade. Market once again turned weakened in mid-afternoon trade. Fresh selling pulled the key benchmark indices to fresh intraday low in late trade.

The Sensex fell 216.24 points or 0.61% at 34,949.24, its lowest closing level since 25 May 2018. The index rose 68.66 points, or 0.20% at the day's high of 35,234.14. The index fell 243.30 points, or 0.69% at the day's low of 34,922.18.

The Nifty 50 index fell 55.35 points or 0.52% at 10,633.30, its lowest closing level since 25 May 2018. The index rose 28.60 points, or 0.27% at the day's high of 10,717.25. The index fell 72.55 points, or 0.68% at the day's low of 10,616.10.

The S&P BSE Mid-Cap index fell 0.44%. The S&P BSE Small-Cap index fell 0.26%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1235 shares rose and 1445 shares fell. A total of 163 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Oil & Gas index (up 0.49%), the S&P BSE Auto index (up 0.43%), the S&P BSE IT index (up 0.34%), the S&P BSE Telecom index (up 0.23%), the S&P BSE Teck index (up 0.10%), the S&P BSE Metal index (up 0.09%), the S&P BSE Utilities index (up 0.02%), the S&P BSE Capital Goods index (up 0.01%), the S&P BSE Industrials index (down 0.07%), the S&P BSE Power index (down 0.11%), the S&P BSE Basic Materials index (down 0.15%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.21%), the S&P BSE Energy index (down 0.25%) and the S&P BSE FMCG index (down 0.42%), outperformed the Sensex. The S&P BSE Realty index (down 0.76%), the S&P BSE Consumer Durables index (down 0.77%), the S&P BSE Healthcare index (down 0.8%), the S&P BSE Finance index (down 1.12%) and the S&P BSE Bankex (down 1.61%), underperformed the Sensex.

Private sector banks declined. ICICI Bank (down 2.87%), IndusInd Bank (down 2.08%), Yes Bank (down 1.78%), Kotak Mahindra Bank (down 1.63%), HDFC Bank (down 0.6%), City Union Bank (down 0.16%), Federal Bank (down 0.12%) and Axis Bank (down 0.1%), edged lower. RBL Bank rose 1.09%.

Public sector banks were mixed. Bank of India (down 5.8%), Union Bank of India (down 3.83%), Punjab National Bank (down 3.44%), Bank of Baroda (down 3.4%), Andhra Bank (down 3.29%), Canara Bank (down 3%), Indian Bank (down 2.86%), State Bank of India (down 2.7%), Allahabad Bank (down 2.34%), Syndicate Bank (down 1.59%), Dena Bank (down 0.3%) and Bank of Maharashtra (down 0.29%), edged lower. Vijaya Bank (up 2.31%), United Bank of India (up 2.62%), Central Bank of India (up 3.96%), Corporation Bank (up 3.96%), Punjab & Sind Bank (up 5.40%) and UCO Bank (up 7.41%), edged higher.

IDBI Bank fell 0.53%. Government of India increased its stake in IDBI Bank by 5% to 85.96% by acquiring 109.73 crore shares via preferential allotment on 25 May 2018. The announcement was made after market hours yesterday, 28 May 2018.

Index heavyweight and housing finance major HDFC lost 1.10% to Rs 1,810.15.

Mahindra & Mahindra (M&M) rose 2.26% to Rs 868.80 after the company reported good Q4 March 2018 results during trading hours today, 29 May 2018. The results for M&M include the combined results of M&M and Mahindra Vehicle Manufacturers Limited (MVML), which is a manufacturing unit of M&M.

Combined profit from ordinary activities after tax (after EI) rose 50% to Rs 1155 crore in Q4 March 2018 over Q4 March 2017. Combined revenue rose 26% to 13189 crore in Q4 March 2018 over Q4 March 2017. Combined (OPM) was reported at 15.1% in Q4 March 2018, higher than 11.2% in Q4 March 2017.

For the year FY 2018, improvement in overall economic sentiment, two consecutive years of normal monsoon, government's focus on development of agri and rural sectors, with continued investment in Infrastructure, coupled with easy availability of affordable finance, helped drive the demand for the automotive as well as the tractor industry, M&M said in a statement.

For Q4 March 2018, the domestic auto industry (excluding 2W) grew 19%, with the passenger vehicles reporting a growth of 7% and the UV segment a growth 25%. The domestic tractor industry witnessed a very high growth of 44%. In Q4 March 2018, the domestic automotive volume for the company grew 20% while the domestic tractor volumes grew 44%, it said.

In its outlook, M&M said economic activity is expected to gather pace as the transitory effects of implementation of the goods and services tax (GST) recede. This outlook will also be lifted by tailwinds from normal rainfall with the weather bureau forecasting a 'normal' monsoon for the third successive year in its first stage long range forecast. While the spatial and temporal distribution remain to be seen, well spread out rainfall is likely to have a salutary impact on the overall demand conditions. However, rising crude oil prices, which have already risen noticeably, call for greater prudence. Global growth backdrop too remains benign with the synchronised cyclical rebound. However, escalation in geo-political risks, trade frictions, tightening monetary conditions, and higher crude oil prices could pose downside risks to global trade and demand growth outlook, M&M added.

Coal India fell 0.98% to Rs 282.15 after net profit dropped 52.35% to Rs 1295.34 crore on 8.54% rise in total income to Rs 28909.32 crore in Q4 March 2018 over Q4 March 2017. The result was announced during market hours today, 29 May 2018.

Larsen & Toubro (L&T) rose 0.18% to Rs 1380.10 after consolidated net profit rose 4.95% to Rs 3337.95 crore on 11.09% rise in net sales to Rs 40678.10 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 28 May 2018.

The order intake for the quarter ended 31 March 2018 at Rs 49557 crore, grew by 5% year-on-year. International order inflow during the quarter at Rs 8678 crore, constituted 18% of the order inflow for the quarter.

Consolidated order book of the group stood at Rs 263107 crore as at 31 March 2018, with international order book constituting 24% of the total order book.

L&T said it expects to continue its planned trajectory of profitable and steady growth which, along with its many value enhancing measures, is aimed at improving shareholder returns on a sustainable basis.

Bharat Heavy Electricals rose 5.56% to Rs 83.60 after net profit surged 112.09% to Rs 457.17 crore on 1.29% decline in total income to Rs 10341.58 crore in Q4 March 2018 over Q4 March 2017. The result was announced during trading hours today, 29 May 2018.

Bharat Heavy Electricals (Bhel) said in a statement that prudent strategies of garnering higher market share in a shrunken and highly competitive business environment enabled Bhel to book orders worth Rs 40932 crore in FY 2017-2018. Significantly, this is a quantum jump of 74% over FY 2016-2017. The orders comprise of Rs 33342 crore in the power segment and Rs 7590 crore in the industry and overseas segments combined. Significantly, Bhel has maintained its leadership position with 100% market share in the conventional thermal power equipment business. With this, Bhel has ended the year with a total order book of over Rs 118000 crore-highest in last five years.

Overseas, European stocks fell amid renewed fears of a euro zone break-up risk in Italy and political turmoil in Spain. Most Asian stocks were trading lower as the political crisis in Italy worsened as a fresh election appeared likely in the eurozone's third-largest economy. US markets remained closed yesterday, 28 May 2018 for Memorial Day. UK markets were also closed yesterday, 28 May 2018 for the spring bank holiday.

The leader of Italy's Five Star Movement party reportedly called for the country's president, Sergio Mattarella, to be impeached after the latter chose to veto a pick for economy minister. Mattarella on Monday appointed a former International Monetary Fund economist to the role of interim prime minister, with snap elections expected. Markets fear a snap election will turn into referendum on Italy's euro membership.

The market rose for a third straight session as a sharp drop in crude prices and a recovery in the rupee boosted sentiment. The barometer index, the S&P BSE Sensex, gained 240.61 points or 0.69% at 35,165.48. The Nifty 50 index gained 83.50 points or 0.79% at 10,688.65. The Sensex settled well above the psychological 35,000 mark after regaining that level in opening trade.

In commodities market, oil prices fell today, 28 May 2018, extending a steep decline in the previous session, as the market eyed an increase in output from the world's three top crude producers, Russia, the United States and Saudi Arabia. The slide in global crude oil prices will help India in containing inflation, current account and fiscal deficits. India imports about 80% of its crude oil requirement.

In the global commodities markets, Brent for July 2018 settlement was down $1.08 a barrel or 1.41% to $75.36 a barrel. The contract slumped $2.35 a barrel or 2.98% to settle at $76.44 a barrel during the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 67.3375, compared with its close of 67.77 during the previous trading session.

Back home, trading for the week began on an upbeat note as domestic stocks saw gap-up opening as crude oil extended a steep decline in the previous session. The Sensex regained the psychological 35,000 level in opening trade. Key benchmark indices extended early gains and hit fresh intraday high in morning trade. Stocks trimmed some gains in mid-morning trade. Indices hit fresh intraday high in afternoon trade. Firmness prevailed on the bourses in mid-afternoon trade on sustained buying demand in index pivotals.

The Sensex rose 240.61 points or 0.69% to settle at 35,165.48, its highest closing level since 16 May 2018. The index rose 316.09 points, or 0.91% at the day's high of 35,240.96. The index rose 81.63 points, or 0.23% at the day's low of 35,006.50.

The Nifty 50 index rose 83.50 points or 0.79% to settle at 10,688.65, its highest closing level since 16 May 2018. The index rose 104.65 points, or 0.99% at the day's high of 10,709.80. The index rose 35.40 points, or 0.33% at the day's low of 10,640.55.

The S&P BSE Mid-Cap index rose 1.35%. The S&P BSE Small-Cap index rose 1.6%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1843 shares rose and 842 shares fell. A total of 175 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Capital Goods index (up 2.50%), the S&P BSE Oil & Gas index (up 2.47%), the S&P BSE Healthcare index (up 2.11%), the S&P BSE Industrials index (up 1.71%), the S&P BSE Realty index (up 1.58%), the S&P BSE Consumer Discretionary Goods & Services index (up 1.37%), the S&P BSE Finance index (up 1.37%), the S&P BSE Basic Materials index (up 1.34%), the S&P BSE Utilities index (up 1.34%), the S&P BSE Power index (up 1.25%), the S&P BSE Bankex (up 1.18%), the S&P BSE Energy index (up 1.16%), the S&P BSE Auto index (up 1.12%) and the S&P BSE Metal index (up 0.95%), outperformed the Sensex. The S&P BSE FMCG index (up 0.55%), the S&P BSE Telecom index (up 0.10%), the S&P BSE Consumer Durables index (up 0.09%), the S&P BSE Teck index (down 1.33%) and the S&P BSE IT index (down 1.72%), underperformed the Sensex.

Banks were in demand. Among private sector banks, Federal Bank (up 2.96%), HDFC Bank (up 1.52%), Yes Bank (up 1.52%), Axis Bank (up 1.49%), RBL Bank (up 1.29%), ICICI Bank (up 0.93%), City Union Bank (up 0.36%), Kotak Mahindra Bank (up 0.22%) and IndusInd Bank (up 0.11%), edged higher.

Among public sector banks, Punjab National Bank (up 6.48%), Indian Bank (up 6.20%), Syndicate Bank (up 5.45%), Union Bank of India (up 5.33%), Andhra Bank (up 5.12%), Corporation Bank (up 4.97%), Bank of India (up 4.71%), Allahabad Bank (up 4.67%), Canara Bank (up 4.48%), Vijaya Bank (up 4.30%), Central Bank of India (up 4.20%), United Bank of India (up 3.89%), UCO Bank (up 3.85%), Dena Bank (up 3.38%), Bank of Maharashtra (up 3.10%), Bank of Baroda (up 2.97%), State Bank of India (up 1.97%), Punjab & Sind Bank (up 1.57%) and IDBI Bank (up 0.92%), edged higher.

Index heavyweight and engineering and construction major L&T advanced 2.52% ahead of its Q4 result today, 28 May 2018. L&T said that water & effluent treatment business of L&T Construction has won orders valued Rs 5704 crore. The announcement was made during market hours today, 28 May 2018.

NTPC rose 1.36% after net profit surged 40.69% to Rs 2925.59 crore on 13.07% rise in total income to Rs 23617.83 crore in Q4 March 2018 over Q4 March 2017. The result was announced during trading hours today, 28 May 2018.

Sun Pharmaceuticals Industries jumped 7.11%. On a consolidated basis, net profit after minority interest of Sun Pharmaceuticals Industries rose 10.35% to Rs 1528.99 crore on 1.67% decline in net sales to Rs 6711.01 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours on Friday, 25 May 2018.

The decline in Q4 net sales was primarily driven by the US and the Active Pharmaceutical Ingredients (API) businesses. All other businesses recorded positive growth for the quarter. For Q4 March 2018, external sales of API were at Rs 332 crore, a decline of 16% over Q4 last year.

India sales were reported at Rs 1963 crores, growth of 2% over Q4 last year. US finished dosage sales were reported at $368 million, down by 3% over Q4 last year. Emerging markets sales were reported at $199 million, up by 10% over Q4 last year. Rest of World sales were reported at $116 million, a growth of 6% over Q4 last year. Research and development (R&D) investments were reported at Rs 743 crores (11% of sales) compared to Rs. 600 crores (9% of sales) for Q4 March 2017.

Other operating income for the quarter was reported at Rs 266 crore, which includes $20 million of milestone payment from Almirall S.A (Spain) as part of the licensing agreement for the development and commercialization of Tildrakizumab for psoriasis in Europe.

Dilip Shanghvi, managing director of the company said that the company's Q4 performance is in-line with its guidance. Over the last four quarters, the company has been able to record a gradual improvement in performance despite a challenging US generic pricing environment. FY 2019 will mark the crossing of some important milestones in the company's specialty journey with the likely launch of 3 specialty products in the US - Ilumya, OTX-101 and Yonsa - which will entail upfront investments. The company is also planning to conduct additional clinical trials for a new indication of Ilumya. The company will continue to evaluate opportunities in the specialty segment to further enhance this business.

Tech Mahindra dropped 3.86%. On a consolidated basis, net profit of Tech Mahindra rose 33.15% to Rs 1230.80 crore on 3.58% rise in net sales to Rs 8054.50 crore in Q4 March 2018 over Q3 December 2017. The result was announced after market hours on Friday, 25 May 2018.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 11.7% to Rs 1412 crore in Q4 March 2018 over Q3 December 2017. The software services exporter saw a rise of 8.3% in the number of active clients, and strong growth in deal wins in the $5 million and $10 million client categories.

Avanti Feeds fell 6.78% after consolidated net profit fell 3.09% to Rs 86 crore on 24.22% increase in net sales to Rs 834.28 crore in Q4 March 2018 over Q4 March 2017. The result was announced on Saturday, 26 May 2018.

Overseas, most European stocks reversed intraday gains. Asian stocks edged higher on signs that the United States and North Korea are still working towards holding a summit next month. Profits earned by Chinese industrial firms in April reportedly rose at their fastest pace in six months, data from the National Bureau of Statistics (NBS) showed on Sunday, 27 May 2018 as factories benefited from higher prices and strong demand.

US stocks ended mostly lower Friday, 25 May 2018, on lighter than normal volume as a plunge in crude-oil futures, sparked by reports that OPEC and major oil-producer Russia were considering increasing output, slammed shares of energy-related companies.

US President Donald Trump reportedly said on Sunday, 27 May 2018, that a US team had arrived in North Korea to prepare for a proposed summit between him and North Korean leader Kim Jong Un on 12 June 2018 in Singapore, which Trump pulled out of last week before reconsidering.

Meanwhile, US markets will remain closed today, 28 May 2018 for Memorial Day. UK markets is also closed today, 28 May 2018 for the spring bank holiday.

The market jumped on broad-based buying support as sustained buying by domestic institutional investors (DIIs) in equity market propped up investors sentiment. The barometer index, the S&P BSE Sensex, rose 261.76 points or 0.76% to settle at 34,924.87. The Nifty 50 index rose 91.30 points or 0.87% to settle at 10,605.15. Strength in oil & gas, metals and banks shares boosted key indices higher. The Sensex trimmed gains after hitting the psychologically important 35,000 mark in late trade. The Sensex and the Nifty, both, settled at their highest closing levels in more than one week. The key benchmark indices rose for second session in a row.

Overseas, European shares were trading higher as market participants' fears were calmed by North Korea's response to President Donald Trump's decision to cancel a landmark summit. North Korea's vice foreign minister said the country was still hopeful of a Trump formula in order to resolve a standoff over its nuclear weapons program. The isolated regime also said it would remain open to resolving issues with the US.

Asian shares ended mixed after US President Donald Trump cancelled a planned meeting with North Korean Leader Kim Jong Un that had been set to take place in Singapore on 12 June 2018. Trump said participating in the summit would be inappropriate given the tremendous anger and open hostility displayed by North Korea, which had reportedly suspended direct communication with the US this week.

US stocks finished lower Thursday as a sharp decline in energy-related shares pressured the broader market lower. On the data front, initial jobless claims rose by 11,000 to 234,000 in the week ended 19 May 2018. Separately, existing-home sales ran at a seasonally adjusted annual 5.46 million pace in April.

Back home, the Sensex rose 261.76 points or 0.76% to settle at 34,924.87, its highest closing level since 17 May 2018. The index rose 354.82 points, or 1.02% at the day's high of 35,017.93. The index rose 37.41 points, or 0.11% at the day's low of 34,700.52.

The Nifty 50 index rose 91.30 points or 0.87% to settle at 10,605.15, its highest closing level since 17 May 2018. The index rose 114.20 points, or 1.09% at the day's high of 10,628.05. The index rose 10.15 points, or 0.10% at the day's low of 10,524.

Among secondary barometers, the BSE Mid-Cap index rose 1.55%. The BSE Small-Cap index rose 1.17%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1,630 shares rose and 1,004 shares fell. A total of 150 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Oil & Gas index (up 3.05%), the S&P BSE Metal index (up 2.2%), the S&P BSE Basic Materials index (up 1.77%), the S&P BSE Utilities index (up 1.76%), the S&P BSE Auto index (up 1.7%), the S&P BSE Telecom index (up 1.51%), the S&P BSE Energy index (up 1.49%), the S&P BSE Power index (up 1.37%), the S&P BSE Consumer Discretionary Goods & Services index (up 1.3%), the S&P BSE Realty index (up 1.27%), the S&P BSE Finance index (up 1.25%), the S&P BSE Industrials index (up 1.16%), the S&P BSE Healthcare index (up 1.05%) and the S&P BSE Bankex (up 1.02%), outperformed the Sensex. The S&P BSE Capital Goods index (up 0.65%), the S&P BSE Teck index (up 0.37%), the S&P BSE FMCG index (up 0.21%), the S&P BSE IT index (up 0.15%) and the S&P BSE Consumer Durables index (down 0.29%), underperformed the Sensex.

Drug major Sun Pharmaceutical Industries rose 0.97% to Rs 466.55. On a consolidated basis, net profit rose 6.97% to Rs 1308.96 crore on 1.11% decline in total income to Rs 7279.85 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours today, 25 May 2018.

Shares of oil exploration and production (E&P) companies edged higher. Reliance Industries (up 0.62%), ONGC (up 4.59%) and Oil India (up 1.77%) edged higher.

Among state-run oil marketing companies, HPCL (up 4.39%), BPCL (up 2.72%) and Indian Oil Corporation (up 4.80%) gained.

Metal shares were in demand. Hindalco Industries (up 4.87%), JSW Steel (up 3.8%), Steel Authority of India (up 3.72%), Tata Steel (up 3.43%), Jindal Steel & Power (up 3.25%), National Aluminium Company (up 2.89%), Hindustan Zinc (up 1.9%), Hindustan Copper (up 1.42%), NMDC (up 1.3%) and Vedanta (up 0.6%), edged higher.

Among private sector banks, RBL Bank (up 3.87%), Yes Bank (up 2.71%), IndusInd Bank (up 2.29%), Federal Bank (up 2.06%), Axis Bank (up 1.88%), Kotak Mahindra Bank (up 1.78%) and HDFC Bank (up 1.3%), edged higher. City Union Bank (down 0.05%) and ICICI Bank (down 0.25%), edged lower.

Among state-run banks, Indian Bank (up 3.71%), Canara Bank (up 3.33%), Bank of India (up 3.15%), Union Bank of India (up 3.1%), Punjab & Sind Bank (up 2.24%), Bank of Maharashtra (up 2.07%), Syndicate Bank (up 2.03%), Corporation Bank (up 2%), Bank of Baroda (up 1.8%), Punjab National Bank (up 1.46%), Andhra Bank (up 1.4%), UCO Bank (up 1.4%), Allahabad Bank (up 1.25%), Dena Bank (up 0.93%), Central Bank of India (up 0.45%) and United Bank of India (up 0.44%), edged higher. Vijaya Bank (down 0.43%), State Bank of India (down 0.56%) and IDBI Bank (down 3.13%), edged lower.

Key benchmark indices posted strong gains on broad-based buying demand in index pivotals. The barometer index, the S&P BSE Sensex, rose 318.20 points or 0.93% to settle at 34,663.11. The Nifty 50 index rose 83.50 points or 0.8% to settle at 10,513.85. Gains were led by index heavyweights Infosys, TCS and HDFC Bank. Bank stocks gained. IT shares were in demand.

After seeing gap-up opening, stocks turned volatile in morning trade. Thereafter, indices extended gains and hit fresh intraday high in afternoon trade. Indices pared gains in mid-afternoon trade as profit booking emerged at higher levels. Indices regained momentum in late trade.

The barometer index, the S&P BSE Sensex, rose 318.20 points or 0.93% to settle at 34,663.11, its highest closing level since 22 May 2018. The Sensex rose 396.55 points, or 1.15% at the day's high of 34,741.46 in late trade. The index rose 22.92 points, or 0.07% at the day's low of 34,367.83 in morning trade.

The Nifty 50 index rose 83.50 points or 0.8% to settle at 10,513.85, its highest closing level since 22 May 2018. The Nifty rose 104.80 points, or 1% at the day's high of 10,535.15 in late trade. The index fell 10.55 points, or 0.10% at the day's low of 10,419.80 in morning trade.

Broader market witnessed selling pressure. Among secondary barometers, the BSE Mid-Cap index fell 0.24%. The BSE Small-Cap index fell 0.14%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1283 shares rose and 1356 shares fell. A total of 140 shares were unchanged.

GAIL (India) lost 5.06%. Net profit surged 292.42% to Rs 1020.92 crore on 11.06% increase in total income to Rs 15706.27 crore in Q4 March 2018 over Q4 March 2017. The result was announced during trading hours today, 24 May 2018.

Bank stocks gained. Among private bank stocks, HDFC Bank (up 1.17%), Kotak Mahindra Bank (up 1.57%), ICICI Bank (up 1.9%), Axis Bank (up 2.65%), IndusInd Bank (up 0.78%) rose. Bandhan Bank (down 3.45%), RBL Bank (down 0.53%) and and Yes Bank (down 0.93%) declined.

Among PSU bank stocks, State Bank of India (SBI) (up 2.01%), Punjab National Bank (up 1.92%), Bank of Baroda (up 1.84%), Canara Bank (up 1.03%), IDBI Bank (up 1.51%), Bank of India (up 1.32%) and Union Bank of India (up 0.11%) rose.

IT shares were in demand. Infosys (up 3.09%), TCS (up 3.08%), Hexaware Technologies (up 2.05%), MphasiS (up 1.73%), HCL Technologies (up 1.86%), Tech Mahindra (up 1.76%), Persistent Systems (up 1.51%), Oracle Financial Services Software (up 1.37%), MindTree (up 0.52%) and Wipro (up 0.36%) edged higher.

Bharti Airtel (up 4.11%), Sun Pharmaceutical Industries (up 2.23%), Tata Steel (up 1.7%), M&M (up 1.49%) and HDFC (up 1.24%) were the major Sensex gainers.

Bajaj Auto (down 1.41%), Maruti Suzuki India (down 1.07%) and Adani Ports & Special Economic Zone (down 0.4%) were the major Sensex losers.

Tata Motors lost 6.56% after consolidated net profit dropped 49.84% to Rs 2175.16 crore on 18.33% rise in total income to Rs 91644.49 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 23 May 2018.

Natarajan Chandrasekaran, Chairman said that JLR delivered profitable growth despite challenging market conditions. The company invested for growth, launched new products and established landmark partnerships. In the domestic business, the company has gained market share in both CV and PV with strong improvement in profitability and positive cash flows.

Tata Motors' subsidiary Jaguar Land Rover (JLR) is the UK's largest automotive manufacturer, built around two iconic British car brands: Land Rover, the world's leading manufacturer of premium all wheel-drive vehicles; and Jaguar, one of the world's premier luxury sports saloon and sports car marques.

Closing net debt was Rs 39977 crore compared to Rs 27485 crore as at 31 March 2017, reflecting negative free cash flow at JLR with continued high investments and lower sales growth. Net Automotive debt rose to Rs 13,889 crore from 7401 crore as at 31 March 2017.

State-run ONGC fell 4.5% after media reports indicated that the government may levy a windfall tax on oil producers like ONGC to rein in the spiraling retail prices of petrol and diesel. The tax, which may come in form of a cess, will kick in the moment oil prices cross $70 per barrel, reports added.

Ashoka Buildcon rose 2.63%. The company said that one of its wholly owned subsidiaries viz. Ashoka Infrastructure (SPV), which had executed Pune Shirur road project in Maharashtra, has received an arbitral award of Rs 383.80 crore, against various claims filed by the SPV. The toll collection at the project had been stopped since 8 August 2014. The announcement was made during market hours today, 24 May 2018.

Rupa & Company gained 0.27% after net profit jumped 70.47% to Rs 39.89 crore on 10% rise in total income to Rs 420.70 crore in Q4 March 2018 over Q4 March 2017.

On the political front, Janata Dal (Secular) chief HD Kumaraswamy took oath as Karnataka chief minister on Wednesday, 23 May 2018. The southern state got its second CM in a week after BJP's BS Yeddyurappa resigned moments before floor test in the Karnataka Assembly on Saturday, 19 May 2018.

Kumaraswamy was administered the oath of office and secrecy by Governor Vajubhai Vala in front of the Vidhana Soudha. Following Kumaraswamy, senior Congress leader G Parameshwara took oath as Karnataka's deputy CM. 22 of Karnataka's 34 ministries will be from the Congress while the JD(S) will head the 12 others. The portfolios will be decided after the floor test which is reportedly scheduled on Friday.

Overseas, most European indices rose as miners and oil stocks rose though carmakers' shares came under pressure after the US launched a probe into auto imports.

Asian shares settled mixed as the trade dispute between the US and China remained in focus. US stocks closed higher Wednesday, after the minutes from the Federal Reserve's 2 May 2018 meeting appeared to have reassured investors that the central bank will not be too aggressive with raising interest rates. Stocks were under pressure earlier as geopolitical and trade concerns continued to dent investor sentiment.

The US Department of Commerce started an investigation into automobile imports to determine whether they threaten to impair the national security of the United States. The new US probe will be carried out under Section 232 of the Trade Expansion Act of 1962. That section of the law authorizes the secretary of Commerce to determine the effects of imports of any article on the national security of the United States.

Meanwhile, Federal Reserve officials would be content to let inflation briefly run above their 2% target as the economy continues to recover, according to minutes from the central bank's most recent meeting. Following the May 1-2 session, the policymaking Federal Open Market Committee (FOMC) said it was not raising rates yet but added the word symmetric to describe its inflation goal. The summary released Wednesday indicates a substantial level of debate over how the Fed should approach inflation. The minutes also pointed to an interest rate hike at the June meeting amid debate over how close the Fed might be getting to the end of this rate-hiking cycle

On the US data front, the IHS Markit purchasing managers index for May inched up to 56.6 from 56.5 in the previous reading. Separately, Markit's PMI for services rose to 55.7 from April's 54.6. New-home sales came in at a 662,000 seasonally adjusted rate in April.