March 16: Sales Traders Commentary :Edelweiss

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Sales Traders Commentary

The Indian equity market snapped its four-day winning streak on Thursday, losing more than 1.50% intraday after the RBI announced the monetary policy review that left policy rates unchanged. Profit booking ahead of a big event like Union Budget 2012-13(tomorrow) may be another reason for driving the Nifty below 5400 levels. Selling was seen in consumer durables, realty, financials, capital goods and oil&gas stocks. The Sensex closed at 17675, down 244 points while the Nifty slipped 84 points to end the day at 5380.
Major gainers were Hindustan Unilever (1.80%), Wipro (1.43%), NTPC (1.13%), Tata Consultancy Services (0.72%), Sun Pharmaceutical Industries (0.38%), and Tata Motors (0.10%).
Major losers were D L F (4.76%), Bharat Heavy Electricals (3.37%), H D F C Bank (3.05%), I C I C I Bank (2.47%), Oil & Natural Gas Corporation (2.45%), and Sterlite Industries (India) (2.36%)
The IT index was up 0.09%. Major gainers were Wipro (1.43%), Tata Consultancy Services (0.72%), Infosys (0.09%), Mphasis (0.07%) and Oracle Financial Services Software (0.05%).
The Consumer Durables index was down by 3.66%. Major losers were Titan Industries (5.91%), T T K Prestige (3.12%), Bajaj Electricals (1.04%), Rajesh Exports (0.58%) and Blue Star (0.08%).
The Realty index slipped 2.66%. Major losers were D L F (4.76%), Housing Development and Infrastructure (3.72%), Anant Raj Industries (2.1%), Godrej Properties (1.88%) and Oberoi Realty (1.83%).
The Bankex index was down by 2.6%. Major losers were Bank Of India (4.13%), Canara Bank (3.84%), H D F C Bank (3.05%), Federal Bank (1.05%) and Bank Of Baroda (0.59%).
Major losers in the mid – cap space were Aban Offshore (4.8%), Alstom Projects India (3.05%), Allcargo Logistics (1.23%), CORE Education and Technologies (1.11%) and A B G Shipyard (0.9%
Major losers among small – cap were A B G Infralogistics (4.01%), Trident (3.48%), Action Construction Equipment (3.26%), A2Z Maintenance & Engineering Services  (2.25%) and INEOS ABS (India) (0.67%).
Globally, Asian indices ended on a positive note while European indices were trading mixed.