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The market ended with sharp gains on Friday, supported by strength in banking and auto shares.Investors lapped up shares ahead of key exit poll for the current Lok Sabha elections due on 19 May and results on 23 May. Exit polls will offer early clues to the final poll results. The market opened higher and held firm at higher levels in morning trade. Shares hovered in a range in mid-morning trade. Indices marched ahead in afternoon trade and hit fresh intraday high in late trade.The Nifty 50 gained 150.05 points and settled at 11407.15.

Global Markets

Boeing Co has made corrections to simulator software that mimics the flying experience of its 737 MAX jets, which were involved in two fatal crashes. U.S. stocks were lower after the close on Friday, as losses in the Oil & Gas, Industrials and Technology sectors led shares lower.The Dow Jones Industrial Average lost 0.38%, while the S&P 500 index declined 0.58%, and the NASDAQ Composite index fell 1.04%.

Stock Snippets

Indian Hotels Company has signed a strategic partnership with Singapore”s sovereign wealth fund, GIC for an investment framework to the tune of about Rs 4000 crore or USD 600 million over a period of three years from the date of signing.

Shilpa Medicare has received US Food and Drug Administration final approval for its ANDA, Docetaxel Injection USP, 20 mg/mL, 80 mg/4 mL (20 mg/mL), and 160 mg/8 mL (20 mg/mL).

Shares of PNB Housing Finance fell more than 2 % after its promoter company Punjab National Bank (PNB) terminated the share purchase agreement (SPA) entered into with Varde Holdings for the sale of the housing finance company.

Punjab National Bank terminated agreement to sell 1.08cr shares of PNB Housing Finance to General Atlantic Group aggregating to Rs925.8cr

Aurobindo Pharma fell 6% after USFDA classified the inspection as Official Action Indicated (OAI).

ICICI Pru Life Insurance has reduced its stake in Cyient from 5.02% to 2.99%.

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