26 Dec 2011:: Sales Traders Commentary :Edelweiss,

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Sales Traders Commentary

After two consecutive days of upside rally, equity markets opened with an upside gap today, following the rally in global markets. However, the euphoria was short-lived and Nifty pared its gains to move into the negative territory in the initial hour of the trading session itself. Among the sectoral indices, FMCG and Realty closed in the green. Capital goods stocks rose on bargain hunting after the recent steep slide whereas telecom stocks extended losses for the second consecutive session, triggered by reports of Telecom Ministry disallowing operators to offer 3G roaming services in zones where they do not own 3G spectrum.

The Sensex closed at  15,738.70, down 0.47%. The Nifty ended down 0.42% at 4,714.00.

Gainers were Siemens (2.35%), Bharat Heavy Electricals (2.26%), Grasim (2.04%), Wipro (1.92%) and Axis Bank (0.97%) .

Losers were Ranbaxy (4.12%), NTPC (3.24%), Reliance Communication (3.06%), Bharat Petroleum Corp (2.73%) and IDFC (2.66%).

The Consumer Durables index closed at 5,328.28, down 61.72 points or 1.15%. Major losers were Whirlpool Of India (2.24%), T T K Prestige (2.07%), Titan Industries (2.06%), Blue Star (1.98%) and Gitanjali Gems (0.48%).

The Oil & Gas index was at 7,926.15, down by 84.43 points or 1.05%. Major losers were Bharat Petroleum Corporation (3.18%), Hindustan Petroleum Corporation (1.62%), Essar Oil (0.7%), G A I L (India) (0.34%) and Cairn India (0.17%).

The Bankex index was down at 9,529.86 by 100.03 points or 1.04%. Major losers were Bank Of India(3.96%), Federal Bank (2.32%), H D F C Bank (1.22%), Canara Bank (0.66%) and Bank Of Baroda (0.64%).

On the other hand, the Capital Goods index was at 8,159.49, up 53.53 points or 0.66%. Major gainers were A B B (3.54%), Crompton Greaves (3.07%), Bharat Heavy Electricals (1.81%), Bharat Electronics (0.57%) and BGR Energy Systems (0.56%).

Globally, Asia ended on a mute note while Europe was trading up.