Edelweiss -Sales Traders Commentary- March 7, 2011

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Sales Traders Commentary

§  On Friday, equity benchmarks closed on an extremely volatile and flat note; the Nifty touched the 5600 mark in early trade for the first time since January 28. But, as the day progressed, the gains were completely wiped out and the index ended on a quiet note. Profit booking was seen in capital goods and metal stocks.

§  The Sensex closed at 18486, down 03 points, while the Nifty gained 02 points at 5538.

§  Major gainers were Tata Power Company (2.38%), Hero Honda Motors (2.00%), Bajaj Auto (1.71%), Housing Development Finance Corporation (1.54%), Reliance Energy (1.45%), and Infosys Technologies (1.13%).

§  Major losers were Larsen & Toubro (3.19%), Bharat Heavy Electricals (2.18%), Jaiprakash Associates (1.87%), Tata Consultancy Services (1.34%), Hindustan Unilever (1.16%), and Bharti Airtel (1.06).

§  The Bankex was up 0.53%. Major gainers were Indusind Bank (2.54%), Federal Bank (1.89%), H D F C Bank (0.92%), Bank of India (0.58%), and IDBI Bank (0.51%).

§  The Auto index jumped 0.44%. Major gainers were Apollo Tyres (2.51%), Bajaj Auto (1.71%), Ashok Leyland (1.32%), Bharat Forge (0.8%), and Exide Industries (0.78%).

§  The IT index rose 0.31%. Major gainers were Financial Technologies (India) (1.63%), Infosys Technologies (1.13%), H C L Technologies (0.73%), Mphasis (0.67%), and Tech Mahindra (0.06%).

§  The Capital Goods index dipped 2.06%. Major losers were Bharat Heavy Electricals (2.18%), Crompton Greaves (0.66%), Alstom Projects India (0.41%), BEML (0.09%), and Bharat Electronics (0.06%).

§   Major losers in the mid cap space were A2Z Maintenance & Engineering Services (2.28%), A B G Shipyard (1.4%), Core Projects and Technologies (0.61%), Alstom Projects India (0.41%), and Allcargo Global Logistics (0.38%).

§  Major losers among small caps were Abhishek Industries (3.42%), A B G Infralogistics (0.83%), Genesys International Corporation (0.53%), Aegis Logistics (0.16%), and Adhunik Metaliks (0.1%).

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