Edelweiss, Sales Traders Commentary: Jan 21, 2011

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Sales Traders Commentary

§  On Thursday, equity benchmarks closed with moderate gains after making a smart recovery in last couple of hours of trade. IT, financial and select power companies' shares led the recovery.

§  The Sensex closed at 19046, up 68 points, while the Nifty gained 20.5 points to 5711.

§  Major gainers were ICICI Bank (2.67%), Jindal Steel & Power (2.33%), H D F C Bank (1.94%), Reliance Communications (1.72%), Tata Consultancy Services (1.53%), and Housing Development Finance Corporation (1.50%).

§  Major losers were ITC (2.16%), Oil & Natural Gas Corporation (2.02%), Bajaj Auto (1.75%), Reliance Industries (1.20%), Bharti Airtel (1.09%), and Sterlite Industries (India) (0.80%).

§  The Bankex jumped 1.66%. Major gainers were Canara Bank(2.45%), H D F C Bank (1.94%), Bank of India (0.98%), Federal Bank (0.56%) and Bank of Baroda (0.33%).

§  The IT index was up 1.13%. Major gainers were Mphasis (2.24%), Infosys Technologies (1.14%), Tech Mahindra (0.85%), H C L Technologies (0.78%), and Patni Computer Systems (0.31%).

§  The IT index was up 0.76%. Major gainers were Mphasis (2.24%), HT Media (1.71%), H C L Technologies (0.78%), G T L (0.43%), and Reliance MediaWorks (0.41%).

§  The Oil & Gas index slipped 1.5%. Major losers were G A I L (India) (3.37%), Hindustan Petroleum Corporation (2.09%), Bharat Petroleum Corporation (1.6%), Cairn India (0.58%), and Indian Oil Corporation (0.05%).

§  Major gainers in the mid cap space were A I A Engineering (3.79%), A2Z Maintenance & Engineering Services (1.42%), Alok Industries (0.8%), Alfa-Laval (India) (0.69%), and A B G Shipyard (0.53%).

§  Major gainers among small caps were Genesys International Corporation (5.47%), Action Construction Equipment (2.17%), Ador Welding (0.82%), Reliance MediaWorks (0.41%), and Aegis Logistics (0.33%).

§  Globally, Asian indices ended negative while European indices were trading lower.