NTPC ended 1.3% up, thanks largely to an announcement from the company that its board gave its nod for updating and upsizing the company's medium term notes programme upto $6 billion for raising debt from international markets to part finance the capital expenditure on ongoing and new projects and other permissible end uses.

Reliance Industries (2.6%) had a good week.The stock rallied sharply on Friday after the company said that it is executing major projects in its energy and materials chain at Jamnagar covering Para-Xylene, Cracker complex along with downstream plants and Gasification. The fairly consistent run the stock enjoyed in positive territory in the past one year resulted in Reliance Industries emerging as the most valued company in the Indian market.

In the banking space, HDFC Bank ended nearly 4% up. On Friday, the bank said that its net profit increased 18.25% in the fourth quarter ended March 2017, compared to year-ago period. The ratio of gross NPAs to gross advances stood at 1.05% as on 31 March 2017 as against 1.05% as on 31 December 2016 and 0.94% as on 31 March 2016, while the ratio of net NPAs to net advances stood at 0.33% as on 31 March 2017 as against 0.32% as on 31 December 2016 and 0.28% as on 31 March 2016.

Axis Bank declined by 4.1% and ICICI Bank ended 4.5% down, while State Bank of India eased by about 3%. Yes Bank declined despite reporting a 30.2% jump in net profit in the March 2017 quarter. Concerns about rising bad loans weighed on the stock.

Among pharmaceuticals stocks, Dr Reddy's Laboratories ended 1.7% down. The company announced that the USFDA completed its audit at the Srikakulam plant with no observations. Shares of Sun Pharmaceutical Industries declined 7.5% on reports the USFDA, after inspecting the company's Dadra unit, has issued eleven observations. Cipla ended 2.2% down.

Unichem Laboratories rallied sharply after the company announced that it has received ANDA approval from the United States Food and Drug Administration for Piroxicam Capsules USP 10mg & 20 mg. Jyothy Laboratories spurts on strong volumes on buzz Henkel may buy 26% stake in company.

Metal stocks turned in a mixed performance last week. Tata Steel ended lower by 2.8%. Hindustan Zinc reported strong numbers for the fourth quarter, but concerns that the company might note be able to repeat the stellar performance in the next couple of quarters at least due to falling zinc prices weighed on the stock.

In the automobile space, Tata Motors and Mahindra & Mahindra ended lower by 2.2% and 1.7%, respectively. Hero Motocorp and Bajaj Auto declined marginally, while Maruti Suzuki gained nearly 2%.

IT stocks were mostly subdued last week with concerns about H1-B visa issues and declining margins of sector heavyweights weighing on sentiment. Infosys, Wipro and Tata Consultancy Services ended marginally lower. Tata Consultancy Services reported a 2.5% decline in consolidated net proft in the fourth quarter of 2016-17, compared to year-ago quarter.

GAIL India rallied 5.6% and Power Grid Corporation advanced 3.2%, while Larsen & Toubro ended modestly higher. Adani Ports, despite some weak spells during the week, ended 1.75% up. Coal India and ONGC shed 4.7% and 2.8%, respectively.

Indiabulls Real Estate soared 42% on Monday, accompanied by huge volumes, following the Company's Board considering the possibility of streamlining its existing ‘residential', ‘commercial' and ‘leasing' businesses by segregating ‘commercial & leasing' business carried on by itself and/or through its SPVs and vesting the same into ‘Indiabulls Commercial Assets Ltd' (ICAL) and restructuring/reorganizing its businesses. The stock retreated a bit on the next session, but bounced back swiftly and stayed mostly positive right through the week.

Reliance Infrastructure was in focus after the company said that it would approach market regulator SEBI for its Infrastructure Investment Trust (InvIT) in the next few days, to raise about Rs 3000 crore in May.

Berger Paints advanced, reacting to an announcement from the company that its wholly-owned subsidiary Bolix, S.A. Poland, has signed a Memorundum of Business Exploration with NBCC Limited for a joint venture to bring External Thermal Insulation and Composite Systems (ETICS) to India.

Jain Irrigations Systems hit a 52-week high after the company announced the investment in United States’ largest micro irrigation dealers Agri-Vally Irrigation & Irrigation Design and Construction, Inc.

Airlines stocks SpiceJet, Jet Airways and Interglobe Aviation rallied sharply, buoyed by data showing a significant jump in passenger growth in the January - March 2017 quarter.

Sugar stocks posted impressive gains on reports that the Uttar Pradesh Chief Minister Yogi Adityanath met a delegation of the sugar mills to hear their grievances and assured them to provide facilities for facilitating fresh investments to expand capacity and build new factories in the state.

In economic news, the IMF said India will be the fastest growing economy in the world in 2017-18 and will be a key driver for global growth.Retaining its growth forecast of 7.2% for India for the fiscal year 2018, the IMF, in its World Economic Outlook, also estimated that India would grow at 7.7% in 2018-19 and said that 8% growth in the medium-term is within reach. It pegged India's growth rate at 6.8% in FY 2017.

On the monsoon front, the India Meteorological Department said monsoon seasonal rainfall is likely to be 96% of the long period average with an error of 5%. Forecast assessment suggests 38% of probability for near normal monsoon rainfall, it added.