Closing Bell: Nifty ends above 11,850, Sensex up 290 pts; Zee Entertainment gains 5%.


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Benchmark indices ended strong on July 1 with Nifty finished above 11,850 level.
At close, the Sensex was up 291.66 points at 39,686.50, while Nifty was up 76.70 points at 11,865.60. About 1239 shares have advanced, 1303 shares declined, and 167 shares are unchanged.
Zee Entertainment, Dr Reddys Labs, Bajaj Auto, Tata Motors and Eicher Motors were top gainers on the Nifty, while losers were BPCL, ONGC, IOC, Coal India and HCL Technologies.
Among sectors, except metal and energy, all other sectoral indices ended higher led by auto, pharma, FMCG, IT and infra.

HEADLINES OF THE DAY

Max Financial Services appointed Jatin Khanna as Chief Financial Officer and V Krishnan has been appointed as company secretary and compliance officer of the company effective from July 1, 2019.
SBI to raise Rs 7000 crore: SBI in its meeting held on July 1 approved to raise AT 1 Capital up to an amount of Rs 7,000 crore by way of issuance of Basel-lll compliant debt instrument in rupee and/or any other convertible currency through a public offer or private placement to overseas and/ or Indian investors.
Jet Airways gains 5%: Jet Airways shares were locked at 5 percent upper circuit at Rs 70.95 on July 1 after reports indicated that Hinduja Group and Etihad Airways consortium is in the race to buy cash-strapped airline.
Reliance Infrastructure plans to monetise Reliance Center: Reliance infrastructure plans to monetize its marquee Reliance Center Office located in Santacruz East, Mumbai. Reliance Center is an ultra-modern state-of-the-art office building with over 6.95 lakh square feet area on a plot of 15,514 square meters.
M&M June sales numbers: M&M sold 17,723 utility vehicles in June 2019, a growth of 8% over June 2018. The passenger vehicles (PV) segment sold 18,826 vehicles in June 2019, as against 18,137 vehicles during the same period last year, a growth of 4%.

The crucial resistance for Nifty spot is now seen at 11960 and above this 12100 Support for the immediate term is now placed at 11660 next support will be 11520.
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