21 Dec 2011:: Sales Traders Commentary :Edelweiss,

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Sales Traders Commentary

The Indian equity market closed at 28-month low on Tuesday after it broke the important technical level of 4550. Index pivotals fell in the last hour of trade even as Sensex has dropped by 1000 points since last week. Both Sensex and Nifty dipped more than 1.30% each. Selling pressure was seen across sectors except FMCG as major losers were capital goods, metal, realty, power and auto stocks, down more than 2% each.    

The Sensex closed at 15175, down 204 points while Nifty slipped 68 points to end the day at 4544.

Biggest gainers were Oil & Natural Gas Corporation (2.39%), H D F C Bank (1.98%), I T C (1.11%), Housing Development Finance Corporation (0.69%) and Hindustan Unilever (0.16%).

Major losers were Jaiprakash Associates (7.26%), Hero Honda Motors (5.68%), Tata Steel (5.27%), Tata Power Company (5.23%), Larsen & Toubro (5.14%), and Hindalco Industries (4.45%)

The FMCG index gained 0.37%. Major gainers were Marico (1.62%), I T C (1.11%), Dabur India (1.09%), Tata Global Beverages (1.01%) and Hindustan Unilever (0.16%).

The Capital Goods index was down 3.50%. Major losers were BGR Energy Systems (6.52%), Crompton Greaves (3.92%), Alstom Projects India (2.13%), Bharat Electronics (1.7%) and Bharat Heavy Electricals (1.21%).

The Metal index slipped by 3.48%. Major losers were Hindalco Industries (4.45%), Jindal Steel & Power (3.98%), Coal India (1.69%), Hindustan Zinc (0.93%) and Bhushan Steel (0.66%).

The Realty index was down by 2.71%. Major losers were Housing Development and Infrastructure (3.7%), D B Realty (3.42%), D L F (1.93%), Anant Raj Industries (1.13%) and Godrej Properties (0.75%).

Major losers in the mid – cap space were A2Z Maintenance & Engineering Services (3.27%), Alstom Projects India (2.13%), A B G Shipyard (1.18%), A I A Engineering (0.98%) and Aban Offshore (0.86%).

Major losers among small - caps were Advanta India (3.94%), Aegis Logistics (3.66%), Adhunik Metaliks (2.91%), Aarti Industries (1.18%) and Ador Welding (0.9%).

Globally, Asian indices ended on a positive note while European indices are trading with similar sentiments.