07 December 2010

Sales Traders Commentary; Edelweiss, 7 Dec. 2010

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Sales Traders Commentary
§  On Monday, benchmark Indices rallied during the day, but lost gains in the late trade due to sell-off in financial, telecom and select healthcare companies' shares, along with ITC, L&T, and Hero Honda. Profit booking could be the reason behind this sell-off.
§  The Sensex closed at 19981, up 14 points, while Nifty was at 5992, down 0.55 points.
§  Gainers were Tata Motors (3.55%), Hindalco Industries (3.36%), Tata Steel (3.31%), Sterlite Industries (India) (3.29%), Jaiprakash Associates (3.02%), and Jindal Steel & Power (2.99%).
§  Losers were Hero Honda Motors (2.51%), ICICI Bank (1.94%), State Bank of India (1.90%), Reliance Communications (1.43%), ITC (1.25%), and Mahindra & Mahindra (0.30%).
§  The Metal index was up 2.71%. Major gainers were JSW Steel (4.85%), Bhushan Steel (3.89%), Hindalco Industries (3.36%), Jindal Steel & Power (2.99%), and National Aluminium Company (1.03%).
§  The Oil & Gas index was up 1.29%. Major gainers were GAIL I(ndia) (1.61%), Bharat Petroleum Corporation (1.38%), CairnIndia (1.26%), Oil & Natural Gas Corporation (0.68%), and Hindustan Petroleum Corporation (0.44%).
§  The Power index was up 1.00%. Major gainers were Bharat Heavy Electricals (1.91%), JSW Energy (1.24%), Reliance Infrastructure (0.87%), GVK Power & Infrastructure (0.37%), and GMR Infrastructure (0.31%).
§  The Bankex index was down 0.83%. Major losers were Bank of India (4.24%), Canara Bank (3.05%), ICICI Bank (1.94%), Bank of Baroda (1.05%), and Federal Bank (0.54%).
§  Globally, Asian markets ended firm, while European indices were trading flat.

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