Market Commentary   

Market Activity: Share indices were up nearly 1% mirroring gains in US and most Asian markets, but trade was choppy ahead of inflation data due at noon. 

At 10.10AM, Sensex was at 16838.01, up 116.93 points or 0.7%. Nifty was at 5042.90, up 44.80 points or 0.9%. 

Hero Honda Motors, up over 4%, was the top Nifty gainer on above estimated Jan-Mar net profit. Bharti Airtel was up 3% post its Jan-Mar earnings. Cairn India, down 2%, was the worst hit on Nifty, while ACC extended decline to fall another 1% following disappointing Jan-Mar earnings Thursday. 

In the mid trading session, indices remained firm up over 1%, after inflation for the week to Apr 12 stood at 7.33%, largely in line with market expectations. Inflation data for the previous week was 7.14% Sensex was at 16881.88, up 160.80 points or 1%. Nifty was at 5053.75, up 53.90 points, or 1.1%. Bank shares gained as worries the RBI would resort to more measures apart from the 50-basis-point cash reserve ratio hike last week to contain inflation eased following the data. HDFC Bank and State Bank of India were up 2% each. Bharti Airtel, up nearly 7%, was the top Nifty gainer, while DLF, down 2%, was the worst hit on Nifty.  

Share indices closed up over 2% at the start of the May futures series, with Sensex closing just two points shy of the 17100-mark, and Nifty ending above 5100 led by gains in Bharti Airtel, SBI, and Tata Steel. Sensex closed at 17125.98, up 404.90 points. Nifty ended at 5111.70, up 111.85 points. Bharti Airtel surged 9% on robust Jan-Mar earnings. SBI was up 4% and Tata Steel over 3%. Tata Power and ACC fell around 2% each, and were the worst hit on Nifty.

Exchange Traded Volumes 

  Sector Activity :

Tech stocks ended mixed: Infosys closed down Rs 1684.30 with volumes of Rs 334.43 crs, Satyam closed up at Rs 444.70 with volumes of Rs 191.63 crs, TCS closed down at Rs 889.30 with volumes of Rs 152.73 crs, and HCL Tech closed up at Rs 260.70 with volumes of Rs 93.08 crs.

Pharma stocks showed mixed trend: Orchid Chemical closed down at Rs 234.85 with volumes of Rs 115.23 crs, Ranbaxy closed up at Rs 479.05 with volumes of Rs 29.70 crs, Cipla closed down at Rs 224.20 with volumes of Rs 20.51 crs, and sun Pharma closed up at Rs 1391.05 with volumes of Rs 20.08 crs.

Banking stocks closed up trend with exception: In the Public Sector SBI Bank closed up at Rs 1748.45 with volumes Rs 162.69 crs & Bank of India closed down at Rs 338.70 with volumes Rs 38.56 crs. In the Private sector ICICI Bank closed up at Rs 915.65 with volume of Rs 543.35 crs & Axis Bank closed up at Rs 907.70 with volumes of Rs 91.67 crs.

Auto Stocks witnessed positive trend with exception: Tata Motors closed down at Rs 639.30 with volumes of Rs 38.85 crs & Ashok Ley closed up at Rs 41.05 with volumes of Rs 28.50 crs. While in the 2 wheeler segment stocks, Hero Honda closed up at Rs 807.90 with volumes of Rs 25.31 crs, TVS Motors closed up at Rs 38.60 with volumes of Rs 4.05 crs.

Cement Stocks showed negative activity with exception: India Cement closed down at Rs 173.90 with volumes of Rs 44.60 crs, ACC closed down at Rs 782.40 with volumes of Rs 35.08 crs, Ambuja Cement closed up at Rs 115.45 with volumes of Rs 13.34 crs and Mysore Cement closed down at Rs 38.10 with volumes of Rs 1.34 crs.                     

Nifty ended at 5112 up by 112 points 

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