Sensex ends up 38pts

The Sensex has ended (provisional) at 17,180, up 38 points. The NSE Nifty has ended (provisional) at 5,154, up 17 points.
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(Updated at 1411hrs)

Markets have surged on the back of buying in healthcare and FMCG stocks. The Sensex touched a high of 17,253 - up 225 points from the day's low.

The index is now up 69 points at 17,210.

The Nifty is up 28 points at 5,164.

The BSE healthcare index has jumped 1.3% to 5,286. The FMCG, realty and bankex are up 1% each.
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(Updated at 1311 hrs)

Markets have started recovering from its low. The Sensex had touched a high of 17,240 in morning trades. However, weakness in metal and TecK stocks and a lower-than-expected IIP number, dragged the index to a low of 17,028.

The Sensex is now down 32 points at 17,109.

The Nifty is flat at 5,135.

The industrial productivity numbers for March has come in at 13.5% as compared to 15.1% month-on-month. Capital goods saw muted growth of 27.4% versus 44.4% in February. The manufacturing and mining sectors grew at 14.3% (16%) and 11% (12.2%) respectively.

The BSE FMCG index has added 08% to 2849. The healthcare and IT index have gained marginally as well.

Bharti Airtel has tumbled 8.3% to Rs 261. Other telecom stock - Reliance Communications has slipped 2% to Rs 144. Telecom Regulatory Authority of India recommended that operators should not be given free spectrum beyond 6.2 MHz when their licenses come up for renewal, but must pay market rates based on 3G prices.

Mahindra & Mahindra has dropped 3.3% to Rs 543. Jaiprakash Associates has shed 3% to Rs 130.

Sterlite has dropped 2.3% to Rs 717. Metal stocks are down. Tata Steel and Hindalco have declined 1% each to Rs 576 and Rs 168, respectively.

BHEL and Reliance Infrastructure have slipped 1.2% each to Rs 2,371 and Rs 998, respectively.

On the other hand, ITC has gained 1.5% at Rs 263. Hero Honda has added 1.3% to Rs 1918.

Wipro, Hindustan Unilever and Cipla are the other top gainers.

The BSE market breadth is negative. Out of 2819 stocks traded, 1793 have declined while 937 have advanced.