Sales Traders Commentary -Edelweiss, March 3, 2011

Please Share:: India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��

Sales Traders Commentary

§   On Tuesday, in the street`s biggest intra-day rally in almost two years, the Sensex and Nifty closed more than 3.5% up. Indian equity benchmarks continued their upward march with the Nifty testing the 5500 level, an important psychological level, on the back of value buying in most of the beaten down shares. Auto, financial, infrastructure, oil & gas and metal were on buyers' radar with their respective indices up 2-5%.

§   The Sensex closed at 18446, up 623 points, while the Nifty gained 189 points at 5522.

§   Major gainers were Mahindra & Mahindra (8.36%), Jaiprakash Associates (7.42%), Maruti Suzuki India (7.14%), NTPC (6.47%), ICICI Bank (5.66%), and Hindalco Industries (5.78%).

§   There were no losers today.

§   The Auto index jumped 5.64%. Major gainers were Ashok Leyland (11.46%), Bharat Forge (8.74%), Mahindra & Mahindra (8.36%), Maruti Suzuki (7.14%), Tata Motors (5.42%), and Bajaj Auto (5.25%).

§   The Bankex jumped 4.35%. Major gainers were Indusind Bank (6.26%), Yes Bank (6.01%), ICICI Bank (5.66%), Bank of India (5.59%), Axis Bank (5.25%), and HDFC Bank (4.23%).

§   The Realty index soared 4.20%. Major gainers were DB Realty (6.57%), HDIL5.32%), Sobha Developers (5.06%), Indiabulls Real Estate (4.86%) DLF (4.72%), and Unitech (3.24%).

§   The Metal index jumped 4.13%. Major gainers were JSW Steel (8.63%), Hindalco Industries (5.78%), Bhushan Steel (5.49%), Tata Steel (4.68%), and Sterlite Industries (4.50%).

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