Sales Traders Commentary : 23 March: Edelweiss

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Sales Traders Commentary

On Thursday, the Indian equity market closed lower. The Sensex dipped 400 points on selling pressure accelerated in the final hours on back of weak European data. Selling pressure was seen across sectors; major losers were realty, power, financial, capital goods, metal and consumer durables, which slipped more than 3% each.  
The Sensex closed at 17196, down 405 points, while the Nifty slipped 136 points to end the day at 5228.
Major gainers were Coal India (2.40%) and Hero Honda Motors (0.48%).
Major losers were Jindal Steel & Power (7.26%), D L F (5.01%), Tata Steel (4.55%), Tata Power Company (4.42%), Reliance Industries (4.15%), and I C I C I Bank (3.84%).
The Realty index was down 4.25%. Major losers were Housing Development and Infrastructure (7.9%), D L F (5.01%), Anant Raj Industries (4.05%), Godrej Properties (3.31%) and Oberoi Realty (2.63%).
The Power index slipped 3.62%. Major losers were Crompton Greaves (5.87%), Reliance Infrastructure (5.48%), Adani Power (5.23%), Bharat Heavy Electricals (3.24%) and A B B (2.26%).
The Bankex was down 3.41%. Major losers were Bank Of India (4.11%), Bank Of Baroda (3.5%), Canara Bank (3.45%), Federal Bank (3.14%) and H D F C Bank (2.48%).
The Capital Goods index was down 3.37%. Major losers were Alstom Projects India (3.67%), Bharat Heavy Electricals (3.24%), Bharat Electronics (2.39%), BEML (2.29%) and A B B (2.26%).
Major losers in the mid–cap space were Aban Offshore (7.42%), Alok Industries (4.63%), Alstom Projects India (3.67%), CORE Education and Technologies (1.54%) and Allcargo Logistics (1.45%).
Major losers among small caps were A2Z Maintenance & Engineering Services (4.21%), Reliance MediaWorks (4.17%), INEOS ABS (India) (2.62%), Aarti Industries (2.34%) and Adhunik Metaliks (1.73%).
Globally, Asian indices ended on a positive note while European indices were trading in the red.