The Indian mutual fund industry has kick-started its new financial year with robust AUM growth. Despite of the volatility in the Indian equity markets, assets under management of the industry rose by 1.37 lakh crore to reach its all-time high of Rs. 23.25 lakh crore as per AMFI data.

Following stocks are close to their 52-week low as at 12.30 p.m. on May 8, 2018.

The markets on May 8, 2018 opened gap up. BSE Sensex is trading at 35,288.23, up by 80.09 points and the Nifty is trading at 10,736.90, up by 21.40 points.

Lemon Tree Hotels (LTH) is a fast growing chain of mid-priced hotels run by Indian hospitality industry's veterans. The company is India's third largest hotel chain on the basis of controlling interest in owned and leased rooms.

Yet another NBFC plans to hit the market and expects to raise ~Rs.1840 – 1844 crore. The IPO comprises a fresh issue of equity shares aggregating up to Rs. 700 crores and offer of sale of up to 2,00,00,000 equity shares in which Indostar Capital is the major promoter selling its stake of up to 1,85,08,407 shares.

In a landmark judgement, the Indian Supreme Court upheld the decision of Delhi High Court which refused to grant patent to the global agro-biotech major Monsanto for its GMO Bt. cotton seeds in India.

Overall volumes in futures & options currently stand at 41.96 crore contracts with a turnover of Rs. 3,69,960.32 crore.

Overall volumes in futures & options currently stand at 41.96 crore contracts with a turnover of Rs. 3,69,960.32 crore.

Going ahead, the index is expected to face resistance at the level of 10,750, followed by 10,780. As far as support is concerned, the level of 10,680, followed by 10,630, would be seen as the immediate levels of support.  Stocks in the news: NDTV, Unichem Lab, Lupin, Veto Switchgears and Cables, Cigniti Technologies and Tata Metaliks.

Indian equity markets are likely to extend their upmove on Tuesday following firm cues from global markets. The SGX Nifty is indicating that Nifty may open up by 24 points at 10,770.