Sales Traders Commentary : 11 May: Edelweiss

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Sales Traders Commentary

On Thursday, the Indian equity market closed flat after shedding all gains in the last couple of hours of trade due to weak European cues. Sensex and Nifty dipped marginally, shedding 0.20% each. Metal, auto, and power stocks faced selling pressure while oil&gas and consumer durables evinced buying interest.
The Sensex closed at 16420, down 60 points, while the Nifty slipped 09 points to end the day at 4966.
Major gainers were D L F (2.25%), Bharat Heavy Electricals (1.46%), Oil & Natural Gas Corporation (1.27%), Tata Consultancy Services (0.99%), Cipla (0.91%), and H D F C Bank (0.83%).
Major losers were Maruti Suzuki India (3.18%), Jindal Steel & Power (2.68%), State Bank Of India (2.32%), Hero MotoCorp (1.53%), Sterlite Industries (India) (1.50%), and Coal India (1.50%).
The Consumer Durables index jumped 0.30%. Major gainers were Rajesh Exports (1.77%), Bajaj Electricals (1.6%), Whirlpool Of India (0.6%), C.Mahendra Exports (0.58%) and Blue Star (0.03%).
The Metal index slipped 1.02%. Major losers were Jindal Steel & Power (2.68%), Coal India (1.5%), Hindalco Industries (1.34%), Sesa Goa (1.16%) and Hindustan Zinc (0.12%).
The Auto index was down 0.89%. Major losers were Apollo Tyres (3.31%), Exide Industries (2.02%), Ashok Leyland (1.96%), Hero Motocorp (1.53%) and Bajaj Auto (0.45%).
The HC index dipped 0.33%. Major losers were Aurobindo Pharma (3.25%), Lupin (3.19%), Ipca Laboratories (3.13%), Glaxo SmithKline Pharmaceuticals (0.81%) and Divis Laboratories (0.33%).
Major gainers in the mid–cap space were Hexaware Technologies (4.89%), Amara Raja Batteries (4.65%), Amtek Auto (1.59%), Arvind (1.23%) and Apollo Hospitals Enterprise (0.39%).
Major losers among small caps were A2Z Maintenance & Engineering Services (4.17%), Adhunik Metaliks (1.77%), Trident (1.47%), Aarti Industries (0.36%) and INEOS ABS (India) (0.11%).
Globally, Asian indices ended on a negative note while European indices were trading in the red