Edelweiss, Sales Traders Commentary: 29 March 2011

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Sales Traders Commentary

§  On Monday, Indian equity benchmarks closed at a fresh two-month high and touched other important psychological levels. Indices continued their uptrend for the fifth consecutive session, led by financial, capital goods, auto and FMCG companies' shares.

§  The Sensex closed at 18943, up 128 points, while the Nifty gained 33 points to 5687.

§  Major gainers were Tata Motors (3.25%), Bharti Airtel (2.57%), Larsen & Toubro (2.56%), Reliance Energy (1.76%), Maruti Suzuki India (1.69%), and Hindustan Unilever (1.57%).

§  Major losers were Jaiprakash Associates (2.16%), Reliance Communications (1.50%), Sterlite Industries (India) (0.89%), Infosys Technologies (0.71%), D L F (0.66%), and Hindalco Industries (0.44%).

§  The Auto index was up 1.52%. Major gainers were Apollo Tyres (1.39%), Bajaj Auto (1.35%), Ashok Leyland (0.71%), Hero Honda Motors (0.7%), and Exide Industries (0.41%).

§  The Capital Goods index was up 1.27%. Major gainers were Alstom Projects India (2.25%), A B B (1.28%), BGR Energy Systems (0.59%), Bharat Heavy Electricals (0.4%), and Bharat Electronics (0.17%).

§  The Bankex jumped 1.21%. Major gainers were Federal Bank (2.59%), Bank Of Baroda (2.01%), H D F C Bank (1.3%), Bank Of India (1.02%), and Canara Bank (0.85%).

§  The HC index was down 1.17%. Major losers were Aurobindo Pharma (5.84%), Cadila Healthcare (2.68%), Apollo Hospitals Enterprise (1.48%), Fortis Healthcare (India) (0.27%), and Cipla (0.23%).

§  Major gainers in the mid cap space were Andhra Bank(2.37%), Alstom Projects India (2.25%), A I A Engineering (1.59%), Apollo Tyres (1.39%), and A B G Shipyard (0.27%). Major gainers among small caps were Action Construction Equipment (7.54%), A K Capital Services (4.16%), INEOS ABS (India) (1.38%), Reliance MediaWorks (0.2%), and A B G Infralogistics (0.18%).

§  Globally, Asian indices ended in the red, while European indices traded in the green.