10 April: Sales Traders Commentary ::Edelweiss

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Sales Traders Commentary

On Monday, Indian equity markets had a gap down opening on weak global cues. Negative closings in American markets and a weak opening in Asian peers led Nifty to open below 5,300 levels. Both Sensex and Nifty dipped more than 1.5% each. Across the board selling was seen except in healthcare with the major losers being metal, capital goods, PSU, financials, oil&gas and auto stocks.  

Sensex closed at 17222, down 263 points while Nifty slipped 88 points to end the day at 5234. Major gainers were Cipla (1.34%), Hindustan Unilever (1.06%), Bajaj Auto (0.95%), D L F (0.64%), and Bharti Airtel (0.12%).  Major losers were Hindalco Industries (5.18%), Sterlite Industries (India) (4.34%), Bharat Heavy Electricals (3.71%), Larsen & Toubro (3.50%), Jindal Steel & Power (3.46%), and Tata Steel (3.21%). The HC index was up 0.32%. Major gainers were Ranbaxy Laboratories (3.88%), Dr Reddy`s (2.11%), Cipla (1.34%), Lupin (0.77%) and Biocon (0.29%). The Metal index slipped 3.44%. Major losers were Hindalco Industries (5.18%), Bhushan Steel (3.48%), Jindal Steel & Power (3.46%), Hindustan Zinc (2.33%) and Coal India (1.46%). The Capital Goods index was down 3.16%. Major losers were Alstom Projects India (4.16%), Bharat Heavy Electricals (3.71%), A B B (2.65%), BEML (1.62%) and Bharat Electronics (0.82%).

The Power index was down by 2.49%. Major losers were Crompton Greaves (4.68%), Bharat Heavy Electricals (3.71%), Reliance Infrastructure (3.17%), A B B (2.65%) and Adani Power (1.52%).Major losers in the mid – cap space were Aban Offshore (4.61%), Alstom Projects India (4.16%), Allcargo Logistics (2.64%), CORE Education and Technologies (1.27%) and A B G Shipyard (0.33%). Major losers among small - caps were Aanjaneya Lifecare (5.78%), A2Z Maintenance & Engineering Services (3.87%), Adhunik Metaliks (1.31%), Action Construction Equipment (1.08%) and Ahluwalia Contracts (India) (0.22%). Globally, Asian indices ended on a negative note while European indices were trading mixed.