6 March: Sales Traders Commentary :Edelweiss

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Sales Traders Commentary

On Monday, Indian equity market closed lower on the back of weak global cues, ahead of the UP Assembly election results tomorrow. Both Sensex and Nifty dipped more than 1.45% each. Nifty closed below 5300 levels. Realty, metal, financials, capital goods and consumer durables remained under selling throughout the session.

The Sensex closed 17362, down 274 points while Nifty slipped 74 points to end the day at 5280.

Major gainers were Tata Motors (2.09%), Wipro (1.06%), I T C (0.95%), Oil & Natural Gas Corporation (0.89%), and Cipla (0.13%).

Major losers D L F (5.44%), Hindalco Industries (5.35%), G A I L (India) (4.88%), Jindal Steel & Power (3.99%), I C I C I Bank (3.88%), and Bharat Heavy Electricals (3.58%)

The FMCG index was up 0.26%. Major gainers were Marico (1.41%), Nestle India (1.25%) and I T C (0.95%).

The Realty index was down by 3.26%. Major losers were D L F (5.44%), Housing Development and Infrastructure (3.36%), D B Realty (1.55%), Godrej Properties (1.51%) and Anant Raj Industries (0.63%).

The Metal index slipped 3.06%. Major losers were Hindalco Industries (5.35%), Jindal Steel & Power (3.99%), Hindustan Zinc (3.4%), Coal India (1.06%) and Bhushan Steel (0.39%).

The Bankex index was down by 2.62%. Major losers were Bank Of India (3.73%), Canara Bank (3.35%), H D F C Bank (1.46%), Federal Bank (0.69%) and Bank OF Baroda (0.55%).

Major losers in the mid – cap space were Aban Offshore (2.42%), Alstom Projects India (1.68%), A I A Engineering (1.12%), A B G Shipyard (0.84%) and CORE Education and Technologies (0.07%).

Major losers among small - caps were Provogue (India) (7.36%), Aarti Industries (5.18%), A2Z Maintenance & Engineering Services (2.78%), Trident (1.45%) and A B G Infralogistics (1.39%).

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