Sales Traders Commentary : 13 April: Edelweiss

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Sales Traders Commentary

On Thursday, Indian equity market bounced back, snapping earlier losses, helped by positive global cues. Both Sensex and Nifty gained more than 0.70% each. Buying was seen across sectors, except IT; major gainers being metals, financials, FMCG, auto, capital goods and PSU stocks.            

The Sensex closed at 17332, up 134 points, while the Nifty jumped 50 points to end the day at 5276.

Major gainers were Jindal Steel & Power (4.86%), Sterlite Industries (India) (3.91%), Maruti Suzuki India (3.13%), Hindalco Industries (3.02%), State Bank Of India (2.95%), and Hero Honda Motors (2.79%).

Major losers were Infosys Technologies (1.87%), Wipro (1.27%), Oil & Natural Gas Corporation (1.27%), D L F (1.09%), Tata Consultancy Services (0.88%), and Sun Pharmaceutical Industries (0.61%).

The Metal index jumped 2.20%. Major gainers were Jindal Steel & Power (4.86%), Hindalco Industries (3.02%), JSW Steel (1.88%), Bhushan Steel (0.85%) and Coal India (0.38%).

The Bankex was up 1.62%. Major gainers were Canara Bank (3.76%), Bank of Baroda (1.61%), Bank of India (1.32%), H D F C Bank (0.79%) and Federal Bank (0.37%).

The FMCG index gained 1.50%. Major gainers were Dabur India (4.6%), I T C (2.16%), Hindustan Unilever (1.13%), Godrej Consumer Products (0.22%) and Colgate-Palmolive (India) (0.01%).

The IT index was down 1.15%. Major losers were Infosys (1.87%), Wipro (1.27%) and Tata Consultancy Services (0.88%).

Major gainers in the mid–cap space were  Alstom Projects (5.02%), Glenmark Pharma (4.11%),Bajaj Hind (3.24%), 3M India (3.19%), Central Bank (3.03%), BEML (2.77%), Abbott India (2.16%) and India Cements (1.50%).

Major gainers among small–caps were Agro Tech Foods (3.06%), Finolex Cables (2.80%),Bharati Ship (2.47%), Aptech (2.19%), Balaji Tele (2.10%), Electrosteel Steel (1.94%), Future Capital (1.74%) and Essar Shipping (1.10%).    

Globally, Asian indices ended on a positive note while European indices were trading in the green