29 Dec 2011:: Sales Traders Commentary :Edelweiss,

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Sales Traders Commentary

On Wednesday, Indian equity market continued to fall for the second day on the back of selling pressures at higher levels. Both Sensex and Nifty dipped 0.90% each despite positive European markets. Selling was seen in metal, financials, oil&gas, auto, FMCG and realty stocks. 

The Sensex closed at 15727, down 146 points. Nifty slipped 44 points to end the day at 4705.

Major gainers were NTPC (2.68%), Bharat Heavy Electricals (2.26%), Tata Power Company (1.61%), Cipla (1.20%), D L F (0.71%), and Infosys Technologies (0.70%).

Major losers were Jindal Steel & Power (7.07%), I C I C I Bank (3.88%), Hindalco Industries (2.51%), Mahindra & Mahindra (2.39%), Wipro (2.27%), and State Bank Of India (2.02%)

The Power index jumped up 0.78%. Major gainers were NTPC (2.68%), Bharat Heavy Electricals (2.26%), G M R Infrastructure (1.53%), Crompton Greaves (1.39%) and Power Grid Corporation Of India (1.37%).

The Metal index was down by 2.05%. Major losers were Jindal Steel & Power (7.07%), Hindustan Zinc (3.48%), National Aluminium Company (2.72%), Hindalco Industries (2.51%) and Bhushan Steel (1.06%).

The Bankex index slipped 1.98%. Major losers were Bank Of India(4.24%), I C I C I Bank (3.88%), Bank Of Baroda (2.69%), Federal Bank (2.45%) and Canara Bank (0.48%).

The Oil & Gas index was down by 1.63%. Major losers were Hindustan Petroleum Corporation (2.76%), Cairn India (2.27%), Bharat Petroleum Corporation (1.95%), Essar Oil (0.81%) and G A I L (India) (0.28%).

Major losers in the mid - cap space were A2Z Maintenance & Engineering Services (3.46%), Alstom Projects India (3.21%), CORE Education and Technologies (2.61%), A I A Engineering (1.63%) and Alfa-Laval (India) (0.79%).

Major losers among small - caps were Provogue (India) (2.72%), INEOS ABS (India) (1.31%), Aarti Industries (1.05%), Action Construction Equipment (0.35%) and Aanjaneya Lifecare (0.28%).

Globally, Asian indices ended on negative note while European indices are trading in the green.