Sales Traders Commentary- March 21, 2011- Edelweiss

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Sales Traders Commentary

§  On Friday, the equity benchmark closed lower, extending losses for the second straight day. Sensex and Nifty closed down more than 1.3%. Selling was seen across all sectors with major losers being Oil & Gas, Auto, Realty, Consumer Durables, IT and Financial stocks.

§  The Sensex closed at 17878, down 271 points, while the Nifty slipped 73 points to 5373.

§  Major gainers were Tata Steel (0.26%), and Tata Power Company (0.17%).

§  Major losers were Reliance Energy (3.87%), Reliance Industries (3.71%), Mahindra & Mahindra (3.31%), Housing Development Finance Corporation (3.03%), Hero Honda Motors (2.35%), and Bharat Heavy Electricals (2.01%).

§  The Oil & Gas index was down 2.67%. Major losers were Bharat Petroleum Corporation (2.55%), Hindustan Petroleum Corporation (1.95%), Oil India (1.88%), Indian Oil Corporation (1.09%) and G A I L (India) (1.03%).

§  The Auto index was down 2.01%. Major losers were Exide Industries (4.38%), Apollo Tyres (3.37%), Ashok Leyland (2.63%), Bharat Forge (1.24%) and Bajaj Auto (0.09%).

§  The Realty index dipped 1.65%. Major losers were Mahindra Lifespace Developers (3.85%), Indiabulls Real Estate (2.76%), Ackruti City (2.21%), Godrej Properties (0.98%) and D L F (0.9%).

§  The Consumer Durables index slipped 1.48%. Major losers were Titan Industries (2.7%), Gitanjali Gems (1.56%), V I P Industries (1.21%), Videocon Industries (0.74%) and Rajesh Exports (0.51%).

§  Major losers in the mid-cap space were Aban Offshore (2.02%), A2Z Maintenance & Engineering Services (1.91%), A B G Shipyard (0.84%), Alstom Projects India (0.44%) and Allcargo Global Logistics (0.09%).

§  Major losers among small caps were Action Construction Equipment (2.38%), Abhishek Industries (1.64%), Provogue (India) (1%), A B G Infralogistics (0.61%) and A K Capital Services (0.43%).

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