End of Day Commentary and Corp. Result Out Today.

We had mentioned today that Nifty would see correction below support at 5899-5885. Nifty moved down to 5860.

Now Below 5850 Nifty may touch 5835. Next support at zone is at 5850-5833.

Key equity benchmarks closed in red on the first day of the new derivatives expiry. Indices have gained over 6 percent in the last fortnight and seems like traders have lightened their positions in the realty and banking stocks ahead of the monetary policy review on May 3.

Maruti Suzuki was the top gainer on the Nifty followed by Bharti Airtel, Bajaj Auto, GAIL and Larsen. HCL Tech, Jindal Steel, Reliance Industries, Jaiprakash Associates and HUL were top losers.

Maruti Suzuki’s fourth quarter standalone net profit rose significantly by 80 percent year-on-year to Rs 1,148 crore, sending its stock surging to a new 52-week high of Rs 1,693 on NSE. Revenue was up 14 percent to Rs 13,304 crore in this quarter. The stock closed up 5 percent at Rs 1673.0

LIC Housing Fin

247.85  15.50 (6.67%)  Vol :9.63m

LIC Housing Finance’s Q4 net profit grew by 24%(beating analysts’ forecast) YoY to Rs 316 crore.

Idea Cellular

122.40  5.95 (5.11%)  Vol :14.87m

Idea’s Q4 consolidated net profit grew by 34.7% QoQ to Rs 308 crore, helped by strong subscriber additions.

Delta Corp

63.60  -7.05 (-9.98%)  Vol :2.11m

Delta Corp reported a consolidated net loss of Rs 13.28 crore in the fourth quarter.

Biocon

278.85  -10.60 (-3.66%)  Vol :981.32k

Biocon’s Q4 consolidated profit grew 2.5 times YoY to Rs 249 cr, boosted by one time exceptional income of Rs 202 crore.