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10 December 2010

Sales Traders Commentary: Edelweiss: Dec 10, 2010

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Sales Traders Commentary
§  On Thursday, markets plunged in the last leg of trade due to wide spread sell-off in broader markets. Broader markets were beaten down badly on margin deficit selling and recent furore by SEBI on stock price rigging. The midcap index plunged 4.3% and smallcap index was off 6%. Sectorially Realty, Auto, Metal, Pharma, Bank, Power and Oil & Gas indices lost 2.0-3.5%.
§  The Sensex fell 454 points to 19242 and the Nifty slumped 137 points to 5767.
§  Gainers were Infosys Technologies (0.97%) and Wipro (0.88%).
§  Losers were Reliance Communications (6.31%), Cipla (5.07%), Reliance Energy (4.57%), Hindalco Industries (4.53%), I C I C I Bank (4.20%), and Mahindra & Mahindra (3.95%) .
§  The Consumer Durables space was down 6.18%. Major losers were Gitanjali Gems (19.98%), Bajaj Electricals (5.79%), Whirlpool of India (5.35%), Blue Star (3.62%) and Rajesh Exports (2.38%).
§  The Realty index was at 2743.11, down 3.41%. Major losers were Ackruti City (8.79%), D B Realty (4.98%), Indiabulls Real Estate (4.55%), Anant Raj Industries (1.74%) and D L F (1.6%).
§  The Auto index was at 9900.15, down 3.28%. Major losers were Amtek Auto (14.12%), Ashok Leyland (6.47%), Bharat Forge (3.51%), Bajaj Auto (1.94%) and Apollo Tyres (1.92%).
§  The IT index was at 6262.79, up 0.50%. Major gainers were Infosys Technologies (0.97%) and Wipro (0.88%).
§  Globally, Asian indices ended mixed while European indices were trading muted.

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