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10 January 2011

Sales Traders Commentary: Edelweiss, 10 Jan 2011

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Sales Traders Commentary
§  On Friday, markets continued to fall for the fourth day, led by sell-off across sectors. Metal, auto, consumer durables, IT, and FMCG were hammered badly in anticipation of the RBI hiking key in the forthcoming policy meet on 25 Jan.
§  The Sensex closed at 19692, down 493 points, while the Nifty slipped 144 points to 5904.
§  Major losers  were Hindalco Industries (7.08%), Tata Motors (6.16%), Sterlite Industries (India) (4.77%), Reliance Energy (4.58%), Mahindra & Mahindra (4.40%), and I T C (4.11%).
§  The Metal index was down 4.38%. Major losers were Hindalco Industries (7.08%), Bhushan Steel (6.78%), JSW Steel (5.94%), Jindal Steel & Power (2.25%), and Hindustan Zinc (0.71%).
§  The Auto index dipped 3.48%. Major losers were Ashok Leyland (4.61%), Amtek Auto (3.75%), Bharat Forge (3.31%), Apollo Tyres (2.21%), and Bajaj Auto (1.29%).
§  The Consumer Durables index was down 3.38%. Major losers were Gitanjali Gems (4.97%), Bajaj Electricals (4.06%), Titan Industries (4.03%), Blue Star (1.68%), and Whirlpool of India (1.6%).
§  The FMCG index slipped 3.15%. Major losers were I T C (4.11%), Hindustan Unilever (3.09%), Dabur India (1.33%), Colgate-Palmolive (India) (0.41%), and Godrej Consumer Products (0.04%).
§  Major losers in mid caps were Aban Offshore (3.74%), Core Projects and Technologies (3.7%), Alstom Projects India (3.64%), A I A Engineering (2.9%), and Ackruti City (2.65%).
§  Major losers among small caps were A B G Shipyard (5.35%), Aarti Industries (5.07%), Abhishek Industries (4.12%), INEOS ABS (India) (3.32%) and A B G Infralogistics (0.7%).
§  Globally, Asian indices ended mixed, while European indices were trading lower.

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