March 26: Sales Traders Commentary:: Edelweiss

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Sales Traders Commentary

On Friday, Indian equity market bounced back from the day’s lows, snapping earlier losses on the back of bargain buying in IT, realty, financials, FMCG, power and auto stocks. Both Sensex and Nifty gained 1% each despite weak global cues.  

The Sensex closed at 17361, up 165 points while the Nifty jumped 50 points to end the day at 5278.

Major gainers were Hero Honda Motors (4.08%), Bharti Airtel (3.69%), Sun Pharmaceutical Industries (2.71%), G A I L (India) (2.39%), H D F C Bank (2.24%), and Bharat Heavy Electricals (1.97%).

Major losers were Jindal Steel & Power (1.90%), Maruti Suzuki India (1.68%), Oil & Natural Gas Corporation (1.26%), Coal India (1.25%), Hindalco Industries (1.02%), and Sterlite Industries (India) (0.92%)

The TECk index was up 1.62%. Major gainers were Dish TV India (4.61%), Bharti Airtel (3.69%), Mphasis (2.88%), Reliance MediaWorks (0.38%) and Idea Cellular (0.15%).

The Realty index gained 1.61%. Major gainers were Godrej Properties (6.65%), Housing Development and Infrastructure (1.7%), D L F (1.53%), Sunteck Realty (1.52%) and D B Realty (1.4%).

The IT index was up by 1.38%. Major gainers were Mphasis (2.88%), Oracle Financial Services Software (2.44%), Tech Mahindra (1.74%), Infosys (1.53%) and H C L Technologies (1.32%).

The Metal index was down by 0.51%. Major losers were Jindal Steel & Power (1.9%), Coal India (1.25%), Bhushan Steel (1.03%), Hindalco Industries (1.02%) and Sterlite Industries (India) (0.92%).

Major gainers in the mid – cap space were A I A Engineering (2.09%), Alok Industries (1.53%), Aban Offshore (0.56%), Allcargo Logistics (0.37%) and A B G Shipyard (0.32%).

Major gainers among small - caps were Aanjaneya Lifecare (2.32%), Trident (1.91%), A B G Infralogistics (1.71%), Aarti Industries (0.76%) and A2Z Maintenance & Engineering Services (0.18%).

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