April 23: Sales Traders Commentary : Edelweiss

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Sales Traders Commentary

On Friday, the Indian equity market opened with a downside gap on the back of weakness in Asian markets. After four days gaining streak, all gains were wiped out and the Nifty closed below 5300 levels. Selling was seen in capital goods, power, realty, oil&gas and financials stocks, which were down more than 1% each.

The Sensex closed at 17373, down 130 points, while the Nifty slipped 42 points to end the day at 5290.

Major gainers were Mahindra & Mahindra (2.89%), Wipro (0.75%), Tata Steel (0.73%), Cipla (0.64%), I T C (0.35%), and Coal India (0.35%).

Major losers were Hindalco Industries (2.46%), Tata Power Company (2.28%), Oil & Natural Gas Corporation (2.24%), Bharat Heavy Electricals (2.05%), Larsen & Toubro (2.02%), and I C I C I Bank (1.97%).

The FMCG index jumped 0.11%. Major gainers were United Spirits (1.71%), Marico (1.44%), Colgate-Palmolive (India) (0.71%), I T C (0.35%), and Godrej Consumer Products (0.32%).

The Capital Goods index slipped 1.84%. Major losers were Bharat Electronics (2.06%), A I A Engineering (1.77%), BEML (1.67%), Alstom Projects India (1.29%), and A B B (0.43%).

The Power index was down 1.72%. Major losers were Adani Power (2.54%), Reliance Infrastructure (2.22%), Crompton Greaves (2.09%), Bharat Heavy Electricals (2.05%), and A B B (0.43%).

The Realty index was down 1.68%. Major losers were D B Realty (2.08%), Oberoi Realty (2.05%), Housing Development and Infrastructure (1.97%), D L F (1.74%), and Parsvnath Developers (0.87%).

Major losers in the mid cap space were Aban Offshore (3.54%), A I A Engineering (1.77%), CORE Education and Technologies (1.38%), Alstom Projects India (1.29%), and A B G Shipyard (0.97%).

Major losers among small caps were Aanjaneya Lifecare (3.81%), A2Z Maintenance & Engineering Services (2.34%), Trident (2.03%), Aarti Industries (1.99%), and A B G Infralogistics (1.99%).

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