28 May: Sales Traders Commentary :Edelweiss

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Sales Traders Commentary

The Indian equity market ended on a flat note with negative bias on Friday. Market opened down on mixed cues from global markets. Recovery in the rupee and strength in European markets helped markets recoup losses in second half of trade. Buying was seen in metal, capital goods, realty, PSU and financial stocks.

The Sensex closed at 16217, down 05 points, while the Nifty slipped 01 points to end the day at 4920.

Major gainers were GAIL (India) (3.37%), Tata Steel (2.43%), D L F (1.89%), State Bank of India (1.74%), Larsen & Toubro (1.54%), and Sterlite Industries (India) (1.52%).

Major losers were Maruti Suzuki India (2.79%), Jindal Steel & Power (2.59%), Mahindra & Mahindra (2.00%), Hindustan Unilever (0.88%), Housing Development Finance Corporation (0.86%), and I T C (0.75%).

The Metal index jumped 0.92%. Major gainers were NMDC (2.43%), JSW Steel (1.93%), Coal India (1.18%), Hindalco Industries (1.08%) and Hindustan Zinc (0.04%).

The Capital Goods index gained 0.89%. Major gainers were Larsen & Toubro (1.54%), Alstom Projects India (0.96%), Lakshmi Machine Works (0.46%), A B B (0.25%) and Bharat Heavy Electricals (0.07%).

The Realty index was up 0.54%. Major gainers were DLF (1.89%), HDIL (1.13%), Prestige Estates (0.86%), Phoenix Mills (0.38%) and Sunteck Realty (0.01%).

Major gainers in the mid–cap space were Amara Raja Batteries (3.95%), Amtek India (2.64%), Allcargo Logistics (2.43%), Alstom Projects India (0.96%) and Aban Offshore (0.94%).

Major gainers among small caps were Aegis Logistics (10.5%), Ahmednagar Forgins  (4.06%), Aarti Industries (2.9%), Adhunik Metaliks (0.72%) and A2Z Maintenance & Engineering Services (0.53%).

Globally, Asian indices ended on a higher note while European indices were trading mixed.