Going ahead, the levels of 10,760 and 10,785 will act as immediate resistance levels. On the way, the index has strong support in the range of 10,630-10,650. Stocks in the news: Inox Leisure, Tata Steel, Quess Corp, EKC, Nestle, Lupin, Sutlej Textiles, Wockhardt, Hindalco and Tata Global Beverages.

The Indian stock markets are likely to make flat to negative start as underlying sentiment may remain cautious amid rising oil prices and negative cues from Asian peers. The SGX Nifty is trading 34 points lower at 10,707.  

The stock s that are likely to record a significant movement on the bourses on Wednesday, May 9 are Quess Corp, Lupin, HPL Electric & Power, Mcnally Bharat Engineering Company and Federal Bank.    

Pharma major Lupin announced on Tuesday that YL Biologics, its joint venture with Yoshindo and Kyowa in Japan has submitted a new drug application for marketing authorization to the Pharmaceuticals and Medical Devices Agency.

ICICI Bank, one of India's largest private sector banks, posted Q4FY18 and full year results on Monday. The NII for the quarter rose by 1 per cent in Q4FY18 vs Rs. 5,962 crore in Q4FY17. This minimal growth was largely due to higher interest expenses, which increased by 8 per cent yoy. The interest income for the quarter rose by 5.1 per cent yoy.

To inspect and replace a possible faulty part, auto major Maruti Suzuki has planned a service campaign starting next week. The fault is detected in the brake vacuum hose of the company's most popular UV brands.

The board of directors have declared an interim dividend of Rs. 7 per share on equity share of Re. 1. The dividend will be paid on May 30, 2018.

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.