Jan 9: Sales Traders Commentary : Edelweiss,

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Sales Traders Commentary

On Friday, the Indian equity market posted a smart recovery in the last one hour of trade on back of short covering and positive global cues. Both Sensex and Nifty gained marginally and the latter closed above 4750. Short covering was seen in oil&gas, FMCG and financial stocks while capital goods, realty, power and IT stocks faced selling pressure.   

The Sensex closed at 15867, up 11 points. The Nifty jumped 04 points to end the day at 4755.

Major gainers were Reliance Industries (2.52%), H D F C Bank (2.25%), Hindalco Industries (2.02%), Maruti Suzuki India (1.76%), I T C (1.23%), and Mahindra & Mahindra (0.98%).

Major losers were Hero Honda Motors (5.12%), Jaiprakash Associates (4.58%), Bharti Airtel (4.11%), Jindal Steel & Power (3.00%), D L F (2.65%), and Oil & Natural Gas Corporation (2.48%).

The Oil & Gas index was up 1.06%. Major gainers were Bharat Petroleum Corporation (3.14%), Essar Oil (2.8%), Indian Oil Corporation (1.13%), Hindustan Petroleum Corporation (0.5%) and G A I L (India) (0.42%).

The Capital Goods index slipped 1.00%. Major losers were Crompton Greaves (3.66%), Bharat Heavy Electricals (1.88%), A B B (1.48%), Alstom Projects India (0.83%) and Larsen & Toubro (0.81%).

The Realty index was down 0.87%. Major losers were Prestige Estates Projects (4.58%), D L F (2.65%), Godrej Properties (1.87%), Oberoi Realty (1.79%) and Sunteck Realty (0.55%).

The TECk index was down 0.78%. Major losers were Bharti Airtel (4.11%), G T L (0.83%), Mphasis (0.52%), D B Corp (0.51%) and Deccan Chronicle Holdings (0.14%).

Major losers in the mid–cap space were A I A Engineering (1.57%), Alstom Projects India (0.83%), Amtek Auto (0.77%), A B G Shipyard (0.31%) and Amara Raja Batteries (0.2%).

Major gainers among small caps were Provogue (India) (9.31%), A B G Infralogistics (1.77%), Aanjaneya Lifecare (1.03%), Trident (1.01%) and Aarti Industries (0.84%).

Globally, Asian indices ended on a negative note while European indices were trading higher.