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Investors will keenly watch out for the Futures & Options expiry for July on Thursday
Besides foreign flows, corporate earnings and US Federal Reserve chief Janet Yellen's testimony to the nation's legislature are also likely to impact investor sentiment.
The S&P BSE Midcap and S&P BSE Smallcap indices hit a new lifetime high
Sensex surged 486 points or 1.9%.
Sensex is trading firm; FMCG, real estate going strong.
The Sensex has hit its lowest level since August 29, 2016 whereas the Nifty hit its lowest level since Sep 12, 2016
On May 16, the leads will start trickling in from morning but the final result is likely to come only after 3.30 pm, beyond trading time for the equities segment in India.
A salaried individual needs to file returns as a business owner if s/he has a high turnover while trading in stocks or futures & options, reveals Tinesh Bhasin.
Above normal monsoon forecast and strength in Asian equities lifted sentiments.
Stellar rally in ITC shares along with strength in the Asian equities capped the downside.
Bharti Airtel, HDFC, ONGC, ITC and CIL emerged as the top gainers.
Ministry considering tax sops for India's first global financial centre, steps to liberalise futures and options markets.
The 30-share BSE Sensex closed down 162 points at 28,338 and the 50-share Nifty was down 67 points at 8,463.