19 Dec: Sales Traders Commentary: Edelweiss

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Sales Traders Commentary

On Friday, the domestic market was in dire straits as it closed lower despite RBI's policy coming on expected lines and flat global cues. The Nifty closed below the psychological 4700 mark for the first time since November 3, 2009, while the Sensex dipped 345 points. Looking at the sharp sell-off in index heavyweights, it seems investors cut some of their exposure in the second half of trade. Selling was seen across sectors; major losers were capital goods, realty, financials, power and metal stocks, which were down more than 2% each.  

The Sensex closed at 15491, down 345 points, while the Nifty slipped 94 points to end the day at 4651.

Major gainers were Wipro (0.15%), Maruti Suzuki (0.10%) and Infosys Technologies (0.07%).

Major losers were Larsen & Toubro (5.33%), Sterlite Industries (India) (4.28%), Jaiprakash Associates (4.06%), Bharat Heavy Electricals (3.88%), D L F (3.68%), and State Bank of India (3.67%).

The Capital Goods index was down 4.36%. Major losers were BGR Energy Systems (10.06%), BEML (2.44%), Alstom Projects India (2.42%), A B B (2.39%) and Bharat Electronics (1.18%).

The Realty index slipped 3.34%. Major losers were D B Realty (4.48%), Sunteck Realty (4.42%), Anant Raj Industries (4.18%), D L F (3.68%) and Housing Development and Infrastructure (1.92%).

The Bankex was down 3.16%. Major losers were H D F C Bank (3.57%), I C I C I Bank (3.18%), Bank of India (2.67%), Bank of Baroda (2.17%) and Canara Bank (0.61%).

The Power index was down 2.76%. Major losers were Bharat Heavy Electricals (3.88%), Adani Power (3.36%), Crompton Greaves (3.25%), Reliance Infrastructure (2.68%) and A B B (2.39%).

Major losers in the mid–cap space were A2Z Maintenance & Engineering Services (7.54%), CORE Education and Technologies (3.91%), Alstom Projects India (2.42%), A B G Shipyard (0.52%) and A I A Engineering (0.35%).

Major losers among small caps were Action Construction Equipment (5.35%), Provogue (India) (4.8%), INEOS ABS (India) (1.11%), Trident (0.6%) and Adhunik Metaliks (0.13%).

Globally, while Asian indices ended on a positive note, European indices were also trading in the green.