10.00 New York, 7.30PM, Mumbai – A better than expected industrial production in February lifted stocks despite a rise in inflation at the end of March.

Market Sentiment

Indian markets rose marginally on Friday after the release of better than expected industrial production data and 3-year record high inflation data.

In Mumbai trading, Sensex rose 0.72% or 112.54 at 15,807.64. On the National Stock Exchange CNX Nifty gained 0.95% to 4,777.80.

Of the stocks traded on BSE 1,637 shares gained 1,050 stocks declined and 62 stocks remained unchanged.

Bharat Heavy Electricals and Larsen & Toubro led the gainers in the Sensex index while Ambuja Cements and Infosys led the decliners in the Sensex index.
Industrial production rises, inflation soars

Industrial output gained 8.6% in February from a year earlier, up from revised January gain of 5.8%.

India''s annual rate of inflation rose to a three months high of 7.41%, spurred by higher food and commodities prices, prompting government to withdraw benefits on primary steel, rice and sugar exports to curb inflation.

The annualized wholesale inflation rose to 7.41% at the end of March. In the previous week the annualized inflation was 7%.

The inflation rate has more than doubled from 3.11% per cent on November 3, last year, mainly on account of rising prices of fruits and vegetables, pulses, cereals, condiments and spices and manufactured items.

Market movers

Daily turnover on the BSE stood at 5,556 crore rupees.

Reliance Industries was the most active stock on the BSE with the highest turnover of 361.20 crore rupees followed by Reliance Petroleum,, Orchid Chemicals &
Pharmaceuticals, Reliance Capital and Larsen & Toubro.

Technology stocks traded mixed in all sessions. Power, capital goods and banking stocks rose.

Gainers and Decliners

Infosys declined 2.1% to 1,422.45 rupees, Tata Consultancy Services gained 0.8% to 908.15 rupees and Satyam Computer Services surged 2.3% to 433.20 rupees.

ICICI Bank declined 1.6% to788.45 rupees, State Bank of India gained 1,667.90 rupees. Larsen & Toubro gained 3.6% to 2,774 rupees, Bharat Heavy Electricals rose 3.7% to 1,830 rupees and Suzlon Energy gained 0.2% to 290.35 rupees.

Tata Power Company advanced 4% to 1,247.05 rupees and NTPC gained 0.3% to 186.50 rupees.

Gail India gained 4.2% to 445 rupees and Hindalco Industries surged 1.7% to 176.35 rupees.

Bharti Airtel surged 0.7% to 804.20 rupees and Mahindra & Mahindra gained 1.3% to 620.25 rupees.