Apr 24: Sales Traders Commentary : Edelweiss

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Sales Traders Commentary

On Monday, the Indian equity market closed lower on back of weak global cues and profit booking on higher levels. Both Sensex and Nifty closed more than 1.60% down each and the latter closed around 5200. Selling was seen across sectors; major losers being realty, IT, metal, capital goods, power and financials stocks, which were down more than 2% each.

The Sensex closed at 17096, down 277 points, while the Nifty slipped 90 points to end the day at 5200.

Major gainers were Sun Pharmaceutical Industries (1.07%), Oil & Natural Gas Corporation (0.70%), Reliance Industries (0.64%), NTPC (0.30%), and Housing Development Finance Corporation (0.06%).

Major losers were Hindalco Industries (4.88%), Jindal Steel & Power (4.32%), D L F (4.21%), Bharat Heavy Electricals (4.19%), Infosys Technologies (3.92%), and Sterlite Industries (India) (3.67%).

The Realty index slipped 3.17%. Major losers were Housing Development and Infrastructure (5.11%), D B Realty (4.83%), D L F (4.21%), Godrej Properties (0.96%) and Anant Raj Industries (0.61%).

The TECk index was down 3.02%. Major losers were Idea Cellular (5.51%), Bharti Airtel (3.55%), Mphasis (3.25%), Reliance MediaWorks (2.82%) and Dish TV India (2.34%).

The IT index was down 2.94%. Major losers were Infosys (3.92%), Mphasis (3.25%), Oracle Financial Services Software (2.38%), H C L Technologies (1.88%) and Hexaware Technologies (1.15%).

The Metal index dipped 2.86%. Major losers were Hindalco Industries (4.88%), Jindal Steel & Power (4.32%), Coal India (2.11%), Bhushan Steel (1.61%) and Hindustan Zinc (0.67%).

Major losers in the mid–cap space were Alok Industries (1.3%), A I A Engineering (0.96%), Aban Offshore (0.48%), Allcargo Logistics (0.36%) and Alstom Projects India (0.29%).

Major losers among small caps were Action Construction Equipment (3.62%), INEOS ABS (India) (3.29%), A2Z Maintenance & Engineering Services (2.44%), Aanjaneya Lifecare (1.33%) and Aarti Industries (1.01%).

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