24 Nov: Sales Traders Commentary: Edelweiss

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Sales Traders Commentary

On Wednesday, the Indian equity market dropped to two year low in intra–day trade on weak global sentiments. The Sensex and Nifty dipped more than 2% each and the Sensex closed below 16000. Selling pressure was seen across sectors except consumer durables; major losers were capital goods, IT, oil&gas, financials, power and metal stocks, which dipped more than 2% each. 

The Sensex closed at 15699, down 365 points, while the Nifty slipped 106 points to end the day at 4706.

Major gainer was NTPC (0.58%). Major losers were Jaiprakash Associates (5.05%), H D F C Bank (3.85%), Bharti Airtel (3.70%), Bharat Heavy Electricals (3.58%), Wipro (3.17%), and Larsen & Toubro (2.85%).

The Consumer Durables index jumped 0.49%. Major gainers were C.Mahendra Exports (5.4%), Titan Industries (2.78%) and V I P Industries (2.27%).

The Capital Goods index slipped 3.04%. Major losers were BGR Energy Systems (5.7%), BEML (5.52%), A B B (3.31%), Alstom Projects India (1.99%) and Bharat Electronics (1.84%).

The TECk index was down 2.65%. Major losers were Dish TV India (5.19%), Idea Cellular (4.42%), Bharti Airtel (3.7%), Mphasis (2.66%) and Oracle Financial Services Software (0.29%).

The IT index was down 2.48%. Major losers were Infosys (2.67%), Mphasis (2.66%), CORE Education and Technologies (1.57%), H C L Technologies (1.52%) and Oracle Financial Services Software (0.29%).

Major losers in the mid–cap space were A2Z Maintenance & Engineering Services (8.07%), A B G Shipyard (2.47%), Aban Offshore (2.25%), Alstom Projects India (1.99%) and A I A Engineering (1.52%).

Major losers among small caps  were Aanjaneya Lifecare (6.39%), A B G Infralogistics (3%), Aarti Industries (1.57%), Trident (0.58%) and INEOS ABS (India) (0.44%).

Globally, Asian indices ended on a negative note while European indices were trading in the red.