23 Dec 2011:: Sales Traders Commentary :Edelweiss,

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Sales Traders Commentary

On Thursday, Indian equity market recovered in the last one hour of trading following short covering and positive global cues. Both Sensex and Nifty gained 0.80% each with the Nifty gaining ground above the 4700 mark for the first time in the last five sessions (on the closing basis). Short covering was seen in realty, financial, power, consumer durables and auto stocks.

The Sensex closed at 15813, up 128 points while Nifty jumped up 41 points to end the day at 4733.

Major gainers were D L F (4.80%), Tata Motors (3.76%), I C I C I Bank (3.52%), State Bank Of India (2.79%), Tata Power Company (2.36%), and Jaiprakash Associates (2.34%).

Major losers were Wipro (2.37%), Bharti Airtel (1.77%), Infosys Technologies (1.07%), Coal India (0.96%), Tata Consultancy Services (0.94%), and Sun Pharmaceutical Industries (0.44%)

The Realty index jumped up 2.91%. Major gainers were D L F (4.8%), Parsvnath Developers (4.62%), Housing Development and Infrastructure (3.71%), Phoenix Mills (1.97%) and Peninsula Land (0.5%).

The Power index was up by 1.97%. Major gainers were Crompton Greaves (7.46%), G M R Infrastructure (3.66%), Reliance Infrastructure (1.87%), Bharat Heavy Electricals (1.54%) and A B B (1.11%).

The Consumer Durables index was also up by 1.85%. Major gainers were V I P Industries (10.11%), C.Mahendra Exports (6.01%), Titan Industries (5.06%), Whirlpool Of India (0.8%) and Rajesh Exports (0.74%).

The IT index was, however, down by 1.20%. Major losers were Mphasis (4.92%), CORE Education and Technologies (2.78%), Oracle Financial Services Software (2.16%), Infosys (1.07%) and H C L Technologies (0.54%).

Globally, Asian indices ended on a negative note while European indices are trading higher.