20 March: Sales Traders Commentary :: Edelweiss

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Sales Traders Commentary

On Monday, the Nifty & Sensex fell over 1% on the first day of the week as they worried over rates cut in April post budget considering high oil prices and profit booking at higher levels. Sustained selling was seen in realty, power, capital goods, financials, PSU and IT stocks, which dipped more than 1.5% each.

The Sensex closed at 17273, down 192 points while the Nifty slipped 61 points to end the day at 5257. Major gainers were I T C (2.01%), Mahindra & Mahindra (1.74%), Sun Pharmaceutical Industries (1.68%), Hindustan Unilever (0.72%), Hindalco Industries (0.53%), and Jindal Steel & Power (0.46%). Major losers were Bharat Heavy Electricals (4.84%), Tata Consultancy Services (3.86%), State Bank Of India (3.07%), Tata Power Company (3.03%), Reliance Industries (2.21%), and Housing Development Finance Corporation (2.18%).

The FMCG index was up 1.09%. Major gainers were I T C (2.01%), Godrej Consumer products (1.11%), Dabur India (1.07%), Colgate-Palmolive (India) (0.88%), and Hindustan Unilever (0.72%).The Realty index slipped 2.56%. Major losers were Housing Development and Infrastructure (7.71%), Oberoi Realty (2.47%), D L F (1.68%), Parsvnath Developers (1.6%), and Godrej Properties (0.96%).The Power index was down 2.23%. Major losers were Reliance Infrastructure (6.03%), Adani Power (5.07%), Bharat Heavy Electricals (4.84%), A B B (4.08%), and Crompton Greaves (1.26%).The Capital Goods index was down 2.14%. Major losers were Bharat Heavy Electricals (4.84%), A B B (4.08%), Alstom Projects India (3.18%), BEML (2.49%), and Bharat Electronics (1.23%).

Major losers in the mid–cap space were Alstom Projects India (3.18%), Aban Offshore (1.98%), A B G Shipyard (1.86%), Allcargo Logistics (0.44%), and CORE Education and Technologies (0.39%). Major losers among small caps were Adhunik Metaliks (3.07%), A2Z Maintenance & Engineering Services (2.59%), Aanjaneya Lifecare (1.61%), Aarti Industries (0.78%) and INEOS ABS (India) (0.29%).

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