Edelweiss, Sales Traders Commentary: 1 March 2011

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Sales Traders Commentary

§  On Monday, Indian shares closed firm, but way off their intra-day highs, as initial euphoria over a better-than-expected Budget was swiftly overshadowed by near term macro-economic concerns and soaring crude oil prices. FMCG, PSU, Realty, Oil & Gas and Consumer Goods companies' shares led the recovery.

§  The Sensex closed at 17823, up 123 points, while the Nifty gained 30 points at 5333.

§  Major gainers were I T C (8.23%), Mahindra & Mahindra (3.19%), Maruti Suzuki India (3.07%), Oil & Natural Gas Corporation (2.93%), Sterlite Industries (India) (2.38%), and Jindal Steel (2.09%).

§  Major losers were Reliance Infra (4.46%), Jaiprakash Associates (2.88%), Hero Honda Motors (2.36%), Tata Motors (2.11%), Tata Power (1.79%), Reliance Communications (1.77%) and ICICI Bank (1.65%).

§  The FMCG index jumped 4.47%. Major gainers were ITC (8.23%), Colgate Palmolive (1.30%), Dabur India (1.21%), Hindustan Unilever (0.93%), United Brew (0.88%), and Tata Global Beverages (0.56%).

§  The PSU index gained 2%. Major gainers were Coal India (12.42%), Central Bank of India (5%), IOB (4.40%), Canara Bank (3.82%), Oriental Bank of Commerce (2.90%), and Punjab National Bank (2.20%).

§  The Realty index was up 1.30%. Major gainers were Anant Raj Industries (7.33%), Godrej Property (2.89%), Peninsula Land (2.67%), Sunteck Realty (2.60%), and Sobha Developers (1.83%).

§  The Capital goods index gained 0.60%. Majors gainers were Reliance Industrial Infra (2.11%), Bhel (1.30%), Siemens (0.93%), and Crompton Greave (0.80%).

§  Globally, Asian indices ended positive, while European indices were trading higher.