27 March: Sales Traders Commentary :Edelweiss

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Sales Traders Commentary

On Monday, Indian equity markets ended with a massive loss due to rising bond yields, falling rupee, GAAR issues and selling pressure on higher levels. Both Sensex and Nifty dipped more than 1.70% each, with Nifty closing below 5200 levels. Selling pressure was seen across the sectors, major losers were realty, power, financials, metal, and PSU stocks, which were down more than 2% each.  The Sensex closed at 17052, down 309 points while the Nifty slipped 94 points to end the day at 5184. Major losers were ICICI Bank (4.30%), Sterlite Industries (India) (4.16%), Cipla (4.10%), Tata Power Company (3.77%), D L F (3.59%), NTPC (3.53%), ONGC (2.11%), SBI (2.10%), and TCS (1.76%). The Realty index was down 3.58%. Major losers were D B Realty (7.45%), Housing Development and Infrastructure (7.02%), D L F (3.59%), Godrej Properties (3.28%), and Anant Raj Industries (0.09%). The Power index slipped 2.56%. Major losers were Crompton Greaves (3.24%), Bharat Heavy Electricals (3.03%), GVK Power & Infrastructure (2.51%), Adani Power (2.28%), and Reliance Infrastructure (2.05%).

The Bankex was down 2.44%. Major losers were Canara Bank(3.61%), Bank Of India (1.97%), Bank Of Baroda (1.7%), H D F C Bank (1.04%), and Federal Bank (0.47%). The PSU index was down 2.19%. Major losers were Andhra Bank (4.67%), Allahabad Bank (2.01%), Bank Of India (1.97%), Bank Of Baroda (1.7%), and Balmer Lawrie & Company (1.49).

Major losers in the mid–cap space were Alstom Projects India (2.48%), Aban Offshore (2.28%), A I A Engineering (1.14%), A B G Shipyard (0.85%), and Alfa-Laval (India) (0.12%).
Major losers among small caps were Aanjaneya Lifecare (4.22%), A B G Infralogistics (2.33%), A2Z Maintenance & Engineering Services (2.24%), Aarti Industries (0.84%), and Trident (0.67%). Globally, Asian indices ended on a positive note, while European indices were trading mixed.