Sales Traders Commentary : June 4 : Edelweiss

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Sales Traders Commentary

The Indian equities witnessed a steep fall on Friday on the back of weak global cues, worries over economic growth and dismal growth outlook for FY12. Both Sensex and Nifty dipped more than 1.50% each, with Sensex closing below 16000 levels. All the major sectoral indices, led by capital goods, power, auto, oil&gas stocks, closed in the negative zone, except FMCG.

The Sensex closed at 15965, down 253 points, while the Nifty slipped 83 points to end the day at 4841.

Major gainers index were G A I L (India) (2.65%), I T C (1.54%), and Sun Pharmaceutical Industries (0.24%).

Major losers were Tata Motors (3.73%), Larsen & Toubro (3.22%), Reliance Industries (3.16%), Sterlite Industries (India) (3.08%), Maruti Suzuki India (2.94%), and Oil & Natural Gas Corporation (2.92%).

The FMCG index was up 0.37%. Major gainers were United Spirits (3.38%), United Breweries (2.7%), I T C (1.54%) and Nestle India (1.44%).

The Capital Goods index slipped 2.99%. Major losers were A B B (4.02%), BEML (2.97%), Bharat Heavy Electricals (2.48%), Bharat Electronics (1.68%) and Alstom Projects India (1.45%).

The Power index was down 2.49%. Major losers were Reliance Infrastructure (4.4%), A B B (4.02%), Adani Power (3.79%), Crompton Greaves (3.53%) and Bharat Heavy Electricals (2.48%).

The Auto index was down 2.17%. Major losers were Apollo Tyres (6.13%), Bharat Forge (3.28%), Exide Industries (1.73%), Bajaj Auto (0.89%) and Ashok Leyland (0.4%).

Major losers in the mid–cap space were Allcargo Logistics (2.33%), Aban Offshore (2.01%), Alstom Projects India (1.45%), Alok Industries (1.34%) and A B G Shipyard (0.45%).

Major losers among small caps were A B G Infralogistics (3.58%), A2Z Maintenance & Engineering Services (2.93%), Trident (1.93%), Action Construction Equipment (1.4%) and Aarti Industries (0.22%).

Globally, Asian indices ended on a lower note while European indices were also trading on similar sentiments.