10.00 New York, 7.30PM, Mumbai – Stocks fell in cautious trading ahead of inflation and industrial production data on Friday.

Market Sentiment

Stocks in Mumbai fell as investors preferred to the sideline ahead of inflation and industrial data on Friday. The stocks traded sideways in all sessions with the 30-share Bombay Stock Exchange declining 0.6% or 95.41 at 15,695.10. The National Stock Exchange CNX Nifty declined 0.3% or 14.05 at 4,733.

Market is looking for a rise in industrial production of at least above 7% after the growth fell to 5.3% in January. Steady spending in infrastructure from government and private sector is expected to boost industrial production.

In addition, inflation data on Friday may show yet another near record level on elevated prices of crude oil and food. Annual inflation at the end of the week on March 22 rose to a 3-year record 7%.

Oil and gas stocks gas after the U.S. crude oil futures reached a new record of $112 per barrel after government data showed a surprising draw on crude stockpiles last week.

IT exporters stocks declined.

Of the BSE traded shares, 1,715 stocks gained, 948 stocks declined and 67 were remained unchanged.

Turnover

Daily turnover on the BSE stood at 5,496 crore rupees and 12,539 crore rupees on the National Stock Exchange.

Reliance Industries was the most active stock on the BSE with a turnover of 374.95 crore rupees followed by Reliance Petroleum, Orchid Chemicals & Pharmaceuticals, Reliance Energy and Reliance Capital.

Gainers and Decliners

Of the BSE shares, TCS gained 2.8% at 900.75 rupees, Ambuja Cements surged 1.5% at 122 rupees and Mahindra & Mahindra rose up 0.7% at 612.25 rupees.

Tata Steel climbed 1% at 685.90 rupees, Hindalco Industries surged 0.5% at 173.45 rupees and Maruti Suzuki jumped 0.6% at 737.80 rupees.

Ranbaxy Laboratories fell 4.2% at 450.65 rupees, Jaiprakash Associates declined 3.1% at 212.80 rupees, Bharti Airtel was down 2.6% at 798.70 rupees and State Bank of India fell 1.9% at 1661.85 rupees.

Cairn India was up 5.7% at 242.15 rupees, Essar Oil gained 2.1% at 232.25 rupees and ONGC fell 1% at 1,002.35 rupees.

HDFC Bank fell 3.7% at 1,325.55 rupees, Kotak Mahindra Bank lost 3.4% at 648.80 rupees, Federal Bank declined 3.2% at 227.10 rupees and ICICI Bank fell 4.3% at 800.95 rupees.

Software firm Financial Technologies was down 1% at 1,688.30 rupees despite the company announcing the acquisition of South African technology company ICX Platform for $1.50 million.

Reliance Update

Reliance Communication declined 2.4% at 484.40 rupees, Reliance Petroleum gained 3.2% at 175.50 rupees and Reliance Industries rose 2.1% at 2,467.70 rupees.