Edelweiss -Sales Traders Commentary- March 15, 2011

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Sales Traders Commentary

§  On Monday, Indian equities posted a spectacular performance on the first day of the week by recouping losses registered in previous two sessions, after a fall in crude oil prices in the international market. Buying across sectors in the second half of trade pushed the benchmark Nifty to close above the 5500 level; Oil & Gas, Metal, Bank, Information Technology and Power indices were major gainers with 1-2% upside.

§  The Sensex closed at 18439, up 265 points, while the Nifty jumped 86 points to 5531.

§  Major gainers were Reliance Communications (4.36%), Tata Power Company (3.57%), Reliance Energy (3.48%), Tata Steel (3.27%), Jaiprakash Associates (2.68%), and Reliance Industries (2.63%).

§  Major losers were Bharti Airtel (0.40%), Hindustan Unilever (0.16%), Oil & Natural Gas Corporation (0.14%), and Hero Honda Motors (0.06%).

§  The Oil & Gas index was up 2.24%. Major gainers were G A I L (India) (4.5%), Hindustan Petroleum Corporation (4.26%), Bharat Petroleum Corporation (4.1%), Indian Oil Corporation (1.54%) and Cairn India (1.48%).

§  The Metal index soared 2.01%. Major gainers were JSW Steel (2.85%), Jindal Steel & Power (1.93%), Hindalco Industries (1.65%), Hindustan Zinc (1.13%) and Bhushan Steel (0.78%).

§  The IT index was up 1.48%. Major gainers were H C L Technologies (1.98%), Tata Consultancy Services (1.9%), Wipro (1.48%), Infosys Technologies (1.47%) and Tech Mahindra (0.75%).

§  The Bankex jumped 1.36%. Major gainers were Canara Bank (1.61%), Bank of Baroda (1.58%), Bank of India (1.55%), H D F C Bank (1.42%) and Federal Bank (0.3%).

§  Major gainers in the mid-cap space were Alfa-Laval (India) (4.86%), A2Z Maintenance & Engineering Services (4.42%), A I A Engineering (1.6%), Alok Industries (0.72%) and Allcargo Global Logistics (0.71%).

§  Major gainers among small caps were INEOS ABS (India) (4.77%), A B G Infralogistics (1.91%), Abhishek Industries (1.11%), Aarti Industries (1.1%) and A K Capital Services (0.47%).

§  Globally, Asian indices ended mixed, while Europe indices were trading on a flat note.