Edelweiss -Sales Traders Commentary- March 24, 2011

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Sales Traders Commentary

§  On Wednesday, equity benchmarks rallied for the second consecutive day. The Sensex surged more than 200 points on the back of global support; also, buying was seen across sectors, the major gainers being realty, financial, healthcare, metal and oil & gas stocks.

§  The Sensex closed at 18206, up 218 points, while the Nifty was up 66 points to 5480.

§  Major gainers were Cipla (4.13%), I C I C I Bank (3.76%), Jaiprakash Associates (3.48%), D L F (2.78%), Bharat Heavy Electricals (2.43%), and Hindalco Industries (2.37%).

§  Major losers were Mahindra & Mahindra (1.02%), Jindal Steel & Power (0.64%), Tata Consultancy Services (0.45%), and Bajaj Auto (0.20%).

§  The Realty index was up 1.92%. Major gainers were Indiabulls Real Estate (4.95%), Godrej Properties (3.18%), Housing Development and Infrastructure (2.8%), D L F (2.78%), and Ackruti City (0.14%).

§  The Bankex index was up 1.85%. Major gainers were I C I C I Bank (3.76%), Indusind Bank (3.51%), Federal Bank (3.27%), Bank Of Baroda (0.65%), and H D F C Bank (0.6%).

§  The Healthcare index was up 1.51%. Major gainers were Cipla (4.13%), Dr Reddy`S Laboratories (1.98%), Aurobindo Pharma (1.63%), Cadila Healthcare (1.03%), and Divis Laboratories (0.69%).

§  The Metal index was up 1.33%. Major gainers were JSW Steel (2.82%), Hindalco Industries (2.37%), Hindustan Zinc (1.21%), Bhushan Steel (0.69%), and NMDC (0.55%).

§  Major gainers in the mid cap space were A I A Engineering (2.66%), Core Projects and Technologies (1.17%), Aban Offshore (0.94%), A B G Shipyard (0.35%), and Alstom Projects India (0.3%).Major gainers among small caps were Provogue (India) (3.68%), Abhishek Industries (0.98%), Reliance MediaWorks (0.7%), Action Construction Equipment (0.52%), and INEOS ABS (India) (0.31%).

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