The benchmark indices close at record highs. The BSE Sensex closed at 40,267.62, up by 553.42 points, while Nifty50 closed at 12,088.55, up by 165.75 points or up by 1.39 per cent each. 

Premier Explosives Limited has received an order from the Ministry of Defence, Air Headquarters, New Delhi. Post this development, the stock gained by 7.42 per cent.

Bajaj Auto has put aside its plans to transfer stake in its joint venture with KTM and has agreed to develop 48 volt electric two-wheeler platform with the company.

The benchmark indices spurted during the post-lunch session on Monday to breach all-time high levels. The BSE Sensex was at 40,113, up by 398 points, while Nifty50 was at 12,045, up by 123 points or up by 1 per cent each.

Overall volumes in futures & options currently stand at 1,20,76,791 contracts with a turnover of Rs. 8,68,179.17 crore.

Overall volumes in futures & options currently stand at 1,20,76,791 contracts with a turnover of Rs. 8,68,179.17 crore.

The company reported 13.52 per cent increase in the sales of motorcycles and scooters for the month of May 2019 compared to April 2019.

Nifty needs to sustain above the all-time high of 12,041 and, in which scenario, Nifty may test the level of 12,200 in the short term. The trend for the Nifty is clear as it has managed to hold above the opening upside gap of May 20 for nine sessions after its formation. On the downside, the last week low of 11,812 is likely to act as a good support and, therefore, any intra-day dips towards 11,812-11,830 should be used as buying opportunity. Stocks in news: MOIL, Bharti Infratel, Tata Steel BSL, Axiscades Engineering Technologies, FLFL, NTPC, Vaibhav Global, NLC India, Dilip Buildcon, Biocon.

At the time of writing, SGX Nifty was up by 33 points at 11,958 level, which suggests Nifty may open with marginal uptick. Investors will watch out for Nikkei manufacturing PMI for May, while auto sales numbers for the month of May can cause some swings in auto stocks.