Sensex ends in red on high inflation nos

The Indian markets were highly volatile in trade today and closed the session in the negative zone. The Sensex down by 77 points and the Nifty fell 21 points after disappointment from rise in inflation. Major Headlines: April Inflation at 7.23% versus 6.89% in March L&T Q4 cons net profit marginally up by 5% Adani Ports Q4 cons net profit at Rs1102.07 cr Adani Power hits 52-week low after Q4FY12 results JSW Steel Q4 net profit declines by 9.67% Indian Indices: The Indian equity benchmarks wiped out all of its morning session gains and closed the session with marginal losses. Monthly Inflation numbers announced came in higher-than -expected, which also weighed on the sentiments. Weak European markets also added to the woes. Major heavyweight draggers were - RIL, HDFC Bank, ICICI Bank, Tata Motors, ONGC, BHEL and HDFC. Today, Nifty futures stopped trading for around half an hour while trading in the cash markets continued normally. On the economic front, Inflation for April 2012 came in at 7.23% versus 6.89% seen in March 2012. April Inflation was higher than the consensus estimate Looking at the earnings front, Larsen & Toubro shot up by 5% as the company reported a better than expected growth of 31.6% year-on-year in its adjusted profit after tax of Rs1,920 crore for the fourth quarter of FY12. The stock closed the session 1.84% higher in trade today. Also the net profit of JSW Steel in Q4 slipped by 9.67% to Rs752.18 crore for the quarter ended March 2012. At end of the day stock was down by 1.20%. Adani Power hits 52-week low after announcing Q4FY12 results, as the company reported its Q4 net profit at Rs290.16 crore for the quarter ended March 31, 2012. Today stock was down by 3.56%. The Sensex closed at 16215, down by 77 points and the Nifty fell 21 points to close at 4908. Market sentiment: The market breadth stood in favour of declines. Of the 2821 stocks traded on the BSE, 1047 (37.11%) rose, 1657 (58.74%) fell and 117 (4.15%) stocks remained unchanged Sectoral & stock screening: Among the 13 sectoral indices, seven sectors closed in red, while remaining six closed in green. Top Gainers: BSE HC which gained by 0.78%, BSE IT rose 0.41%, BSE CD up 0.36%. Top Losers: BSE Oil & Gas which fell 1.69%, BSE Bankex dropped 1.61% and BSE Realty slipped 1.27%. Among 'A' group stocks, top three gainers were- Divis Lab which rose 7.31%, TTK Prestige up by 4.73% and Lupin surged 4.36%. Top three losers were- Astrazeneca Pharma which slipped 7.45%, Strides Arcolab declined 5.85%, and Aurbindo Pharma skid by 5.68%. Global Signals The Asian shares eased on Monday (May 14, 2012) as investors saw more reasons to cut risk after talks in Greece to form a new government failed. A German vote pointed to growing opposition to austerity steps and China took further steps to support its fragile growth. The European shares fell on Monday to a four-month low as Greece's political deadlock and signs of an economic slowdown in China hit riskier assets, and traders and investors said they would avoid European equities as they felt markets could tumble further. The US stock index futures pointed to a lower opening on the Wall Street on Monday, as the Dow Jones and Nasdaq 100 future are trading in negative