Sales Traders Commentary- March 17, 2011- Edelweiss

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Sales Traders Commentary

§  On Wednesday, Indian equity benchmarks rebounded led by short covering after a sharp sell-off in the previous session on earthquake in Japan. Nifty closed above 5500, but there was some profit booking in late trade while European markets slipped in the red, which could be because of rising crude oil prices again. Buying was seen across all sectors with major gainers being Realty, Financials, Consumer Durables, PSU and Auto stocks.

§  The Sensex closed at 18358, up 191 points, while the Nifty jumped 62 points to 5511.

§  Major gainers were Reliance Infra (5.17%), State Bank of India (3.10%), I C I C I Bank (3.03%), D L F (2.44%), Tata Consultancy Services (2.36%), and Mahindra & Mahindra (2.34%).

§  Major losers were Hindustan Unilever (1.28%), Hindalco Industries (0.56%), Cipla (0.52%), Hero Honda Motors (0.22%), Housing Development Finance Corporation (0.08%), and H D F C Bank (0.04%).

§  The Realty index was up 2.47%. Major gainers were Anant Raj Industries (4.03%), D L F (2.44%), Ackruti City (1.84%), Indiabulls Real Estate (1.82%) and D B Realty (1.53%).

§  The Bankex soared 2.15%. Major gainers were Canara Bank (4.08%), I C I C I Bank (3.03%), Federal Bank (2.11%), Bank of India (1.2%) and Bank of Baroda (1.08%).

§  The Consumer Durables index was up 1.90%. Major gainers were Whirlpool of India (5.24%), Titan Industries (1.94%), Gitanjali Gems (1.18%), Bajaj Electricals (0.92%) and Rajesh Exports (0.68%).

§  The PSU index was at 8574.09, up 1.47%. Major gainers were Andhra Bank (3.17%), Balmer Lawrie & Company (1.83%), Bank of India (1.2%), Bank of Baroda (1.08%) and Allahabad Bank (0.27%).

§  Major gainers in the mid-cap space were A B G Shipyard (2.16%), A2Z Maintenance & Engineering Services (1.48%), Aban Offshore (1.36%), Alstom Projects India (1.23%) and AIA Engineering (0.51%).

Major gainers among small caps were A K Capital Services (3.96%), INEOS ABS (India) (1.52%), A B G Infralogistics (0.85%), Aarti Industries (0.51%) and Abhishek Industries (0.07%).

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