Sales Traders Commentary- March 22, 2011- Edelweiss

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Sales Traders Commentary

§  On Monday, Indian markets continued to fall for the third day, with the Sensex and Nifty closing flat. Indices continued to trade in the negative terrain as sustained selling happened in realty, IT, consumer durables and capital goods.

§  The Sensex closed at 17839, down 40 points, while the Nifty slipped 9 points to 5364.

§  Major gainers were Jindal Steel & Power (1.95%), Mahindra & Mahindra (1.39%), Sterlite Industries (India) (1.07%), Housing Development Finance Corporation (0.92%), Tata Steel (0.87%), and Jaiprakash Associates (0.85%).

§  Major losers were Hindalco Industries (3.12%), Hero Honda Motors (2.74%), Maruti Suzuki India (2.44%), Cipla (2.11%), Wipro (1.90%), and Reliance Communications (1.53%).

§  The Healthcare index was up 0.15%. Major gainers were Lupin (3.22%), Cadila Healthcare (2.52%), Ipca Laboratories (1.75%), Dr Reddy`S Laboratories (1.02%), and Biocon (0.2%).

§  The Realty index was down 0.92%. Major losers were D B Realty (3.2%), Ackruti City (2.78%), Housing Development and Infrastructure (2.61%), Indiabulls Real Estate (1.91%), and Mahindra Lifespace Developers (1.74%).

§  The IT index was down 0.73%. Major losers were Wipro (1.9%), Mphasis (1.78%), Oracle Financial Services Software (1.2%), Tata Consultancy Services (1.14%), and Infosys Technologies (0.66%).

§  Major losers in the mid cap space were Aban Offshore (3.57%), Amara Raja Batteries (2.46%), A I A Engineering (1.7%), Alok Industries (0.98%), and Alstom Projects India (0.06%).

§  Major losers among small caps were A B G Infralogistics (2.72%), INEOS ABS (India) (2.01%), Action Construction Equipment (1.92%), Adhunik Metaliks (1.08%), and A K Capital Services (0.53%).

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