Markets end on a flat note

STOCK REPORT

Key shares indices ended flat in a session rocked by higher-than-expected inflation data and a bomb blast at Mecca Masjid in Hyderabad.

Weak cues from Asian markets also kept investors edgy, dealers said. Key Asian markets ended down as prices of copper, nickel and zinc tumbled.

Benchmark indices fell 0.5 per cent after inflation rate for week to May 5 was 5.44 per cent compared with 5.66 per cent week ago, but higher from 5.24 per cent estimated. However, they came off lows later on buying in bank and consumer durables shares.

Six people were feared killed and several injured in a blast at Mecca Masjid near Charminar at Hyderabad dampened sentiment and market gave up all hopes of a recovery, dealers said.

Bombay Stock Exchange's 30-share Sensex ended at 14303.41, up 3.70 points from Thursday. Intraday, it moved between 14201.01 and 14337.06.

National Stock Exchange's 50-share Nifty ended at 4214.50, down 5.05 points, or 0.1 per cent. Intraday, it moved between 4177.00 and 4228.45.

Turnover on both the exchanges was roughly Rs 13,800 crore compared with Rs 18,200 crore on Thursday.

The CNX Midcap Index was up 0.3 per cent and S&P CNX 500 Index ended down 0.1 per cent.

Technology shares gained for the first time this week after the US dollar rose on positive jobs data. HCL Technologies rose 2 per cent to Rs 353 and Satyam Computer Services was up 1 per cent at Rs 457.

Dabur India was up 4 per cent at Rs 96 on news it has set up a subsidiary, H&B Stores, to mark its retail foray into the health and beauty segment.

HDFC Bank gained 2 per cent at Rs 1,067 after the bank on Thursday said it would raise Rs 4,200 crore via a share sale for its growth and capital adequacy plans.

ITC was up 1 per cent at Rs 167 ahead of its earnings on May 25. ITC's January-March net profit is seen at Rs 710 crore, up 25 per cent on year.GAIL India was up 1 per cent at Rs 293 after signing a pact with Hindustan Petroleum Corporation on Thursday for city gas distribution projects in Rajasthan.

UTV Software Communication extended gains. The company is conducting a road show detailing plans of listing its movie production business on the AIM.