Nifty ends above 10600; auto, metal stocks gain

Mumbai, May 25: Benchmark indices rose on Friday after rupee recovered from its a 16-month low against the dollar.
The S&P BSE Sensex ended at 34,925, up 262 points, while the broader Nifty50 index settled at 10,605, up 91 points
Among sectoral indices, the Nifty Metal index gained over 2% led by a rise in Hindalco, SAIL, JSPL and Tata Steel. The Nifty Auto index also rose over 1% led by Exide Industries and Tata Motors.
In individual stocks, Tata Consultancy Services (TCS) , the country’s biggest software services exporter, became the first Indian company. which saw its market capitalisation (market-cap) cross Rs 7-trillion mark.
Multi Commodity Exchange of India (MCX) rallied 8% on the BSE after reports suggested that the company has entered into merger talks with the National Stock Exchange (NSE) ahead of the implementation of the universal exchange framework in October.
GLOBAL MARKETS
Global shares were on the mend on Friday as Pyongyang’s measured response to US President Donald Trump’s announcement to call off a key summit with North Korea healed market sentiment, although investors remained cautious.
North Korean Vice Foreign Minister Kim Kye Gwan said Pyongyang still hoped for a “Trump formula” to resolve the standoff over its nuclear weapons programme, noting that the country was open to resolving issues with the United States.