Sales Traders Commentary, Edelweiss, 30 March 2011

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Sales Traders Commentary

§  On Tuesday, bulls remained ahead of bears for the sixth consecutive session, with the Sensex adding nearly 1300 points by outperforming its global peers in these six days, supported by strong inflow of foreign institutional investors. All sectoral indices settled in the positive, with auto, IT, realty and metal leading the space.

§  The Sensex closed at 19121, up 178 points, while the Nifty gained 49 points to 5736.

§  Major gainers were Reliance Communications (4.18%), Bharti Airtel (3.36%), Maruti Suzuki India (3.12%), Hero Honda Motors (3.02%), D L F (2.59%), and Tata Power Company (2.47%).

§  Major losers were Bharat Heavy Electricals (1.43%), Reliance Industries (0.07%), and I C I C I Bank (0.01%).

§  The Auto index was up 1.53%. Major gainers were Hero Honda Motors (3.02%), Exide Industries (2.79%), Amtek Auto (1.54%), Mahindra & Mahindra (1.35%), and Bajaj Auto (0.6%).

§  The TECk index was up 1.35%. Major gainers were Mphasis (5.13%), Deccan Chronicle Holdings (4.53%), Bharti Airtel (3.36%), Idea Cellular (1.45%), and D B Corp. (1.05%).

§  The Metal index was up 1.08%. Major gainers were Hindustan Zinc (3.54%), Jindal Steel & Power (1.57%), Hindalco Industries (1.19%), JSW Steel (0.65%), and National Aluminium Company (0.1%).

§  Major gainers in the mid cap space were Allcargo Global Logistics (6.43%), Alfa-Laval (India) (1.78%), Amara Raja Batteries (1.7%), A I A Engineering (0.55%), and Aban Offshore (0.15%).

§  Major losers among small caps were INEOS ABS (India) (2.52%), Aarti Industries (1.41%), Abhishek Industries (1.25%), Provogue (India) (0.51%), and A B G Infralogistics (0.38%).

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