Edelweiss, Sales Traders Commentary: Feb 25, 2011

Please Share:: India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��

Sales Traders Commentary

§  On Thursday, Indian equities plunged on the back of rise in crude oil prices to USD 100 a barrel in the international markets, which could increase India`s fiscal deficit and inflation in the near term. Indices continued to trade in the negative terrain as sustained selling happened in auto, banking, capital goods, FMCG, IT and metal stocks.

§  The Sensex closed at 17632, down 546 points, while the Nifty slipped 175 points to 5262.

§  There were no gainers today.

§  Major losers were Tata Motors (7.54%), Jaiprakash Associates (6.20%), ICICI Bank (5.43%), Jindal Steel (5.37%), Larsen & Toubro (4.94%), Reliance Infra (4.21%), Reliance Communication (4.09%), and HDFC (3.73%).

§  The Bankex index was down 3.97%. Major losers were Bank of India 6.32%, Union Bank 5.45%, ICICI Bank 5.45%, IDBI 5.30%, AXIS Bank 5.04%, Yes Bank 4.90%, and State Bank of India 3.48%.

§  The Capital Goods index slipped 3.77%. Major losers were Reliance Industrial Infrastructure (down 9.15%), Praj Industries (down 7.87%), Alstom Projects (down 7.32%), Crompton Greaves (down 6.38%), BGR Energy (down 6.25%), Punj Lloyd (down 6.34%), and ABB (down 5.03%).

§  The Auto index was down 3.52%. Major losers were Tata Motors (down 7.54%), Apollo Tyres (down 6.06%), Mahindra & Mahindra (down 3.73%), Bharat Forge (down 3.25%), Bajaj Auto (down 2.07%), and Maruti Suzuki (down 1.71%).

§  The Metal index was down 3.20%. Major losers were Welspun Corporation (down 5.57%), Jindal Steel (down 5.37%), Sesa Goa (down 5.20%), Bhushan Steel (down 4.94%), Sterlite Industries (down 3.60%), Hindalco Industries (down 3.30%), and Tata Steel (down 2.85%).

§  Globally, Asian indices ended negative, while European indices were trading lower.