22 Nov: Sales Traders Commentary: Edelweiss

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Sales Traders Commentary

On Monday, the Indian equity market continued to decline for the eight sessions on back of global sentiments. Both Sensex and Nifty dipped more than 2.5% each and the Sensex closed below 16000. Across-the-board selling was seen in metal, financials, realty, power and auto stocks, which dipped more than 2.50% each.                

The Sensex closed at 15946, down 425 points, while the Nifty slipped 128 points to end the day at 4778.

Major gainers were Maruti Suzuki India (0.20%) and Sun Pharmaceutical Industries (0.14%).

Major losers were Tata Motors (5.20%), Bharat Heavy Electricals (5.04%), ICICI Bank (4.90%), Sterlite Industries (India) (4.85%), D L F (4.23%) and Bajaj Auto (4.21%).

The Metal index slipped 3.46%. Major losers were JSW Steel (7.05%), Jindal Steel & Power (3.73%), Hindalco Industries (3.72%), Bhushan Steel (0.7%) and Coal India (0.25%).

The Bankex was down 3.24%.Major losers were Federal Bank (4.54%), Bank of India (3.91%), Canara Bank (3.3%), H D F C Bank (2.8%) and Bank of Baroda (2.03%).

The Realty index was down 3.04%. Major losers were Anant Raj Industries (6.68%), D L F (4.23%), Indiabulls Real Estate (3.78%), D B Realty (3.12%) and Godrej Properties (2.32%).

The Power index was down 2.72%. Major losers were GVK Power & Infrastructure (6.32%), Bharat Heavy Electricals (5.04%), Crompton Greaves (2.4%), Reliance Infrastructure (2.14%) and A B B (2.14%).

Major losers in the mid-cap space were Aban Offshore (10.03%), Alstom Projects India (2.69%), A2Z Maintenance & Engineering Services (2.39%), A B G Shipyard (0.42%) and Alfa-Laval (India) (0.1%).

Major losers among small caps were Trident (4.23%), Provogue (India) (4.13%), A B G Infralogistics (3.76%), INEOS ABS (India) (2.71%) and Aanjaneya Lifecare (0.99%).

Globally, Asian indices ended on a lower note while European indices are trading in the red.