Jan 13: Sales Traders Commentary : Edelweiss

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Sales Traders Commentary

On Thursday, Indian equity benchmarks closed lower on the back of weak Q3 Infosys results and profit booking at higher levels. Both Sensex and Nifty dipped 0.70% each despite better IIP numbers and positive opening in European markets. Sustained buying was seen in power, metal, financials and PSUs while much of the selling was seen in IT, oil&gas and capital goods.

Sensex closed at 16037, down 138 points. The Nifty slipped 29 points to end the day at 4831.

Major gainers index were Jaiprakash Associates (3.34%), State Bank Of India (2.03%), Hindalco Industries (1.81%), Tata Power Company (1.72%), Coal India (1.66%), and Tata Steel (1.46%).

Major losers were Infosys Technologies (8.40%), Tata Consultancy Services (3.89%), Wipro (2.60%), Reliance Industries (1.44%), Larsen & Toubro (1.25%), and Bharat Heavy Electricals (0.89%)

The Power index was up by 1.32%. Major gainers were A B B (5.98%), G M R Infrastructure (5.94%), Crompton Greaves (5.08%), Adani Power (5.06%) and Reliance Infrastructure (0.07).

The Bankex index jumped up 1.08%. Major gainers were Indusind Bank (4.7%), Bank Of Baroda (1.25%), Canara Bank (1%), H D F C Bank (0.94%) and I C I C I Bank (0.25%).

The Metal index gained 1.08%. Major gainers were Sesa Goa (4.92%), Hindalco Industries (1.81%), Coal India (1.66%), NMDC (1.19%) and National Aluminium Company (0.35%).

The IT index was down by 5.96%. Major losers were Infosys (8.4%), Tech Mahindra (3.75%), H C L Technologies (2.09%), CORE Education and Technologies (0.97%) and Oracle Financial Services Software (0.17%).

Major gainers in the mid – cap space were Amtek Auto (2.37%), Andhra Bank (1.62%), Alfa-Laval (India) (0.51%), Amara Raja Batteries (0.29%) and Alok Industries (0.27%).
Major gainers among small - caps were Advanta India (5.5%), Action Construction Equipment (2.76%), Aanjaneya Lifecare (2.09%), Aarti Industries (0.92%) and INEOS ABS (India) (0.08).

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