Jan 27: Sales Traders Commentary : Edelweiss,

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Sales Traders Commentary

On Wednesday, the market continued its bullish momentum for yet another day; it was an excellent performance by the market in the January series, shooting up 11% on back of supportive global cues and short covering. Both Sensex and Nifty gained 0.50% each and the former closed above 17000. Metal, PSU, IT, auto, power and FMCG stocks led the market rally.      

The Sensex closed at 17077, up 81 points. Nifty jumped 31 points to end the day at 5158.

Major gainers were Coal India (3.90%), Tata Motors (3.78%), Tata Steel (2.97%), Sterlite Industries (India) (2.47%), Maruti Suzuki India (2.44%), and Infosys Technologies (1.51%).

Major losers were Tata Power Company (2.09%), Jindal Steel & Power (1.67%), Hero Honda Motors (1.43%), Larsen & Toubro (1.35%), Hindalco Industries (1.08%), and Oil & Natural Gas Corporation (0.98%).

The Metal index jumped 1.79%. Major gainers were Sesa Goa (5.65%), Coal India (3.9%), NMDC (3.69%), Bhushan Steel (2.96%) and JSW Steel (1.91%).

The PSU index was up 1.24%. Major gainers were Balmer Lawrie & Company (0.9%), Andhra Bank (0.83%), Bank of India (0.56%), Bharat Heavy Electricals (0.37%) and Allahabad Bank (0.2%).

The capital goods index was down 0.33%. Major losers were Alstom Projects India (2.64%), Bharat Electronics (1.94%), Larsen & Toubro (1.35%), Siemens (1.33%) and BEML (0.67%).

Major gainers in the mid–cap space were Alok Industries (1.81%), A I A Engineering (1.78%), Allcargo Logistics (1.68%), Anant Raj Industries (1.28%) and Alfa-Laval (India) (1.26%).

Major gainers among small caps were Aarti Industries (2.13%), Trident (1.57%), A2Z Maintenance & Engineering Services (1.12%), Aanjaneya Lifecare (0.6%) and Provogue (India) (0.59%).

Globally, Asian indices ended on a higher note while European indices were trading in the red.