Senior Superintendent Police-City Fida Hussain said that a remote-controlled blast detonated near a bus terminal in the Lea Market area on Wednesday. One man died and four other people were injured.
Earlier reports by television channels said that the blast had been a cylinder explosion.
The Bomb Disposal Squad said no pellets had been used in the bomb, which contained half a kilogram of explosives.
An investigation has been initiated into the incident.