IT stocks lift Sensex 191 points, Nifty above 10700

Mumbai, Apr 30: The market closed at three-month high on Monday, the final trading day of the month, driven by HDFC Group, technology and FMCG stocks. Correction in crude oil prices and positive global cues also boosted sentiment.
The 50-share NSE Nifty ended above 10,700 levels for the first time since February 2, rising 47.10 points to 10,739.40.
The index rallied 6.2 percent in the month of April, following more than 8 percent correction in previous two months.
The 30-share BSE Sensex rallied 190.66 points to 35,160.36, but the gains were capped by sharp correction in Reliance Industries, Axis Bank and ICICI Bank.
On the global front, Asian stocks closed higher on receding geopolitical tensions, robust earnings and economic data. Hong Kong’s Hang Seng closed up 1.74 percent while South Korea’s Kospi was up 0.92 percent and Australia’s ASX 200 gained half a percent. Chinese and Japanese markets were shut today.
European markets, too, were higher as investors digested merger news and focused on earnings. France’s CAC, Germany’s DAX and Britain’s FTSE were up 0.2-0.6 percent at the time of writing this news.
Brent crude and US oil futures fell a percent each after rising rig count in the United States pointed to higher production.
Back home, housing finance company HDFC was up 1.6 percent after reporting better-than-expected 39 percent year-on-year increase in Q4 profit while Kotak Mahindra Bank rose 1.9 percent on stable March quarter earnings and asset quality improvement.