Sales Traders Commentary : 13 June: Edelweiss

Sales Traders Commentary

The Indian equity market ended on a buoyant note on Tuesday as dismal IIP growth raised hopes of rate cut by the RBI at its mid-quarter monetary policy review meeting on June 18. Both Sensex and Nifty gained 1.10% each and the latter closed above 5100. Buying was seen in realty, financial, capital goods, auto and PSU stocks.

While the Sensex closed at 16862, up 195 points, the Nifty gained 62 points to end the day at 5116.

Major gainers were Maruti Suzuki India (3.31%), Tata Motors (3.16%), Larsen & Toubro (2.38%), Sterlite Industries (India) (2.37%), Oil & Natural Gas Corporation (2.21%), and Hindalco Industries (2.20%).

Major losers were Dr Reddy`s Laboratories (1.90%), Wipro (1.71%), Hindustan Unilever (0.57%), Jindal Steel & Power (0.14%), Tata Power Company (0.10%), and Reliance Industries (0.04%).

The Realty index jumped 2.01%. Major gainers were Godrej Properties (4.45%), Housing Development and Infrastructure (3.98%), Indiabulls Real Estate (3.63%), Prestige Estates Projects (2.91%) and D L F (2.56%).

The Bankex was up 1.90%. Major gainers were Canara Bank (3.99%), Bank of India (2.9%), Bank of Baroda (2.24%), H D F C Bank (1.9%) and Federal Bank (1.86%).

The Capital Goods index gained 1.84%. Major gainers were Crompton Greaves (2.58%), BEML (1.98%), Bharat Heavy Electricals (1.5%), A B B (1.29%) and Alstom Projects India (0.78%).

The HC index slipped 0.40%. Major losers were Dr Reddy`s Laboratories (1.9%), Apollo Hospitals Enterprise (1.4%), Aurobindo Pharma (0.93%), Glenmark Pharmaceutical (0.35%) and Cadila Healthcare (0.11%).

Major gainers in the mid-cap space were Aban Offshore (1.47%), Alstom Projects India (0.78%), Allcargo Logistics (0.75%), Alok Industries (0.27%) and A B G Shipyard (0.27%).

Major gainers among small caps were Advanta India (2.35%), Alembic Pharmaceutical (2.03%), Genesys International Corporation (1.91%), Aarti Industries (0.99%) and Andhra Pradesh Paper Mills (0.98%).

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

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