Edelweiss, Sales Traders Commentary: 8 March 2011

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Sales Traders Commentary

§  On Monday, domestic markets continued to decline for the second day on back of heavy selling due to rising crude prices and political uncertainty. Markets were hammered by sell-offs in Auto, Capital Goods, Financials, Consumer Durables, Realty, and Metal companies’ shares.

§  The Sensex closed at 18222, down 264 points, while the Nifty slipped 76 points to 5463.

§  Major gainers were Tata Power Company (1.26%), Wipro (1.04%), Cipla (0.38%), NTPC (0.34%), and I T C (0.03%).

§  Major losers were Maruti Suzuki India (3.73%), Tata Motors (3.64%), Reliance Communications (3.48%), Bharat Heavy Electricals (3.21%), State Bank of India (2.87%), and Larsen & Toubro (2.69%).

§  The Auto index was down 2.55%. Major losers were Ashok Leyland (5.48%), Bharat Forge (4.74%), Amtek Auto (1.84%), Bajaj Auto (1.17%), and Exide Industries (0.95%).

§  The Capital Goods index dipped 2.36%. Major losers were Alstom Projects India (3.13%), BGR Energy Systems (2.39%), A B B (2.03%), BEML (0.96%), and Bharat Electronics (0.55%).

§  The Realty index dipped 1.66%. Major losers were D B Realty (3.74%), Indiabulls Real Estate (3.34%), D L F (1.91%), Anant Raj Industries (1.5%), and Mahindra Lifespace Developers (0.7%).

§  Major losers in the mid cap space were Alstom Projects India (3.13%), A I A Engineering (2.3%), A2Z Maintenance & Engineering Services (1.69%), Core Projects and Technologies (1.48%), and A B G Shipyard (0.8%).

§  Major losers among small caps were Provogue (India) (3.11%), A K Capital Services (2.54%), Aarti Industries (1.86%), Abhishek Industries (1.51%), and INEOS ABS (India) (0.38%).

§  Globally, Asian indices ended nagative, while European indices were trading mixed.