Sales Traders Commentary : 18 April : Edelweiss

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Sales Traders Commentary

The Indian equity market rallied more than 200 points on Tuesday, reacting to the surprise 50bps repo rate cut by RBI and positive European markets. The rally was majorly led by realty, metals, PSUs, capital goods, FMCG, financials, auto and power stocks.

The Sensex closed at 17358, up 207 points, while the Nifty jumped 64 points to end the day at 5289.

Major gainers were Oil & Natural Gas Corporation (3.62%), Coal India (3.18%), Hindalco Industries (3.06%), D L F (2.76%), Hero Honda Motors (2.71%), and G A I L (India) (2.56%).

Major losers were Mahindra & Mahindra (0.47%), Reliance Industries (0.25%), and Maruti Suzuki India (0.03%).

The Realty index jumped 2.41%. Major gainers were D B Realty (4.04%), Housing Development and Infrastructure (3.8%), D L F (2.76%), Sunteck Realty (1.45%) and Godrej Properties (0.78%).

The Metal index gained 2.01%. Major gainers were Coal India (3.18%), Hindalco Industries (3.06%), Hindustan Zinc (2.03%), NMDC (1.96%) and Jindal Steel & Power (1.49%).

The PSU index gained 1.83%. Major gainers were Bharat Petroleum Corporation (1.31%), Bharat Electronics (0.99%), Bharat Heavy Electricals (0.92%), Bankf of India (0.07%) and Andhra Bank (0.04%).

The Capital Goods index was up 1.67%. Major gainers were Alstom Projects India (4.36%), Bharat Electronics (0.99%), Bharat Heavy Electricals (0.92%), A B B (0.5%) and Crompton Greaves (0.23%).

Major gainers in the mid–cap space were Alstom Projects India (4.36%), Aban Offshore (2.46%), A B G Shipyard (0.65%), CORE Education and Technologies (0.18%) and Allcargo Logistics (0.08%).

Major gainers among small caps were Aanjaneya Lifecare (5.61%), Adhunik Metaliks (5.2%), Aarti Industries (3.72%), A2Z Maintenance & Engineering Services (1.95%) and Reliance MediaWorks (1.69%).

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