Sales Traders Commentary : 24 May: Edelweiss

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Sales Traders Commentary

On Wednesday, the domestic equity market ended on a lower note following further fall in the rupee and weak global markets. Sensex and Nifty dipped more than 0.50% each and the former closed below 16000. Sustained selling was seen in consumer durables, capital goods, realty, metal and auto stocks.

The Sensex closed at 15948, down 79 points, while the Nifty slipped 25 points to end the day at 4835.

Major gainers were GAIL (India) (3.19%), Wipro (1.15%), State Bank of India (0.93%), Mahindra & Mahindra (0.84%), Coal India (0.72%) and Hindustan Unilever (0.66%).

Major losers were Bharti Airtel (4.29%), Tata Power Company (1.99%), Hero Motocorp (1.86%), Jindal Steel & Power (1.84%), Sterlite Industries (India) (1.51%) and Bajaj Auto (1.37%).

The IT index rose 0.16%. Major gainers were Wipro (1.15%), Oracle Financial Services Software (0.46%), Infosys (0.25%) and Tata Consultancy Services (0.21%).

The Consumer Durables index was down 2.08%. Major losers were Bajaj Electricals (2.66%), Blue Star (2.15%), Whirlpool of India (1.85%), C.Mahendra Exports (1.58%) and Gitanjali Gems (1.43%).

The Capital Goods index slipped 0.89%. Major losers were Crompton Greaves (3.38%), Alstom Projects India (3%), Bharat Electronics (1.84%), BEML (1.12%) and A B B (0.41%).

Major losers in the mid–cap space were Amtek Auto (4.53%), Aban Offshore (3.11%), Alstom Projects India (3%), Alok Industries (1.33%) and CORE Education and Technologies (0.71%).

Major losers among small caps were Reliance MediaWorks (5.83%), Aegis Logistics (2.29%), Action Construction Equipment (0.53%), Aarti Industries (0.23%) and Styrolution ABS (India) (0.17%).

Globally, Asian indices ended on a lower note while European indices were trading in the red.