Edelweiss, Sales Traders Commentary: 20/1/2011

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Sales Traders Commentary

§  On Wednesday, equity benchmarks retreated after a rally in the previous session, dragged down by oil & gas, technology, capital goods, FMCG and cement companies' shares.

§  The Sensex closed at 18978, down 113 points, while the Nifty slipped 33 points to 5691.

§  Major gainers were D L F (3.13%), Sterlite Industries (India) (2.74%), Reliance Energy (2.71%), Hindalco Industries (2.63%), Bajaj Auto (1.96%), and I C I C I Bank (1.24%).

§  Major losers were Infosys Technologies (1.99%), Larsen & Toubro (1.87%), State Bank of India (1.86%), H D F C Bank (1.48%), Hero Honda Motors (1.46%), and Reliance Industries (1.32%).

§  The Metal index was up 1.78%. Major gainers were JSW Steel (3.61%), Sesa Goa (2.96%), Hindalco Industries (2.63%), Bhushan Steel (1.1%), and NMDC (0.66%).

§  The Capital Goods index was down 1.2%. Major losers were A B B (1.56%), Havell`s India (1.15%), Alstom Projects India (0.86%), Areva T & D India (0.53%), and Bharat Heavy Electricals (0.52%).

§  The IT index was down 1.18%. Major losers were Infosys Technologies (1.99%), Core Projects and Technologies (1.39%), Wipro (0.85%), Tata Consultancy Services (0.58%), and Tech Mahindra (0.52%).

§  The Oil & Gas index dipped 1.15%. Major losers were G A I L (India) (2.01%), Oil & Natural Gas Corporation (1.2%), Bharat Petroleum Corporation (0.79%), Cairn India (0.1%), and Indian Oil Corporation (0.1%).

§  Major gainers in the mid cap space were Andhra Bank (3.37%), Allcargo Global Logistics (3.23%), Amara Raja Batteries (1.35%), Alfa-Laval (India) (0.53%), and Amtek Auto (0.36%).

Major gainers among small caps were Ajanta Pharma (3.11%), A K Capital Services (2.88%), INEOS ABS (India) (1.41%), Abhishek Industries (0.98%), and A B G Infralogistics (0.18%).

§  Globally, Asian indices ended positive while European indices were trading flat.