Sales Traders Commentary- March, 9 2011- Edelweiss

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Sales Traders Commentary

§  On Tuesday, Indian equity markets bounced back, snapping earlier losses. Smart recovery in IT, Auto, Finacials, Metal and Realty companies’ shares led to the Nifty closing at the 5500 level.

§  The Sensex closed at 18439, up 217 points, while the Nifty gained 58 points to 5520.

§  Major gainers were Bharti Airtel (3.16%), Tata Motors (2.91%), Oil & Natural Gas Corporation (2.90%), Infosys Technologies (2.53%), Jaiprakash Associates (2.37%), and Tata Steel (1.94%).

§  Major losers were Hero Honda Motors (0.77%), Maruti Suzuki India (0.65%), ITC (0.35%), and Tata Power Company (0.04%).

§  The TECk index was up 1.98%. Major gainers were Idea Cellular (3.51%), Bharti Airtel (3.16%), Reliance MediaWorks (1.13%), Dish TV India (1.01%) and Oracle Financial Services Software (0.44%).

§  The IT index jumped 1.90%. Major gainers were Tech Mahindra (9.26%), Infosys Technologies (2.53%), H C L Technologies (2.29%), Core Projects and Technologies (2.27%) and Oracle Financial Services Software (0.44%).

§  The Metal index was up 1.49%. Major gainers were Bhushan Steel (3.65%), Hindustan Zinc (3.59%), JSW Steel (1.91%), Jindal Steel & Power (1.11%) and Hindalco Industries (1.07%).

§  The Bankex gained 1.48%. Major gainers were Canara Bank (3.69%), Federal Bank (2.63%), Bank of India (2.09%), Bank of Baroda (2.02%) and H D F C Bank (1.32%).

§  Major gainers in the mid cap space were A2Z Maintenance & Engineering Services (3.64%), Core Projects and Technologies (2.27%), Aban Offshore (1.75%), A B G Shipyard (1.08%) and Alstom Projects India (0.38%).

§  Major gainers among small caps were Aarti Industries (2.2%), Reliance MediaWorks (1.13%), Adhunik Metaliks (0.76%), Provogue (India) (0.74%) and Abhishek Industries (0.22%).

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