Sales Traders Commentary :April 12

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Sales Traders Commentary

On Wednesday, the Indian equity market opened gap down on back of weak Asian peers, but recovered after positive European markets which helped Indian indices recover in late trade. Selling was seen in metal, consumer durables, oil&gas, realty and auto stocks.
The Sensex closed at 17199, down 45 points, while the Nifty slipped 17 points to end the day at 5226.
Major gainers in the 30-share index were Sun Pharmaceutical Industries (2.08%), NTPC (1.79%), Infosys Technologies (0.92%), H D F C Bank (0.69%), State Bank of India (0.43%) and Housing Development Finance Corporation (0.32%).
Major losers were Jindal Steel & Power (2.92%), Bharti Airtel (2.27%), Sterlite Industries (India) (1.97%), Bharat Heavy Electricals (1.92%), Tata Power Company (1.87%), and Reliance Industries (1.36%).
The HC index jumped 0.58%. Major gainers were Dr Reddy`s Laboratories (0.42%), Apollo Hospitals Enterprise (0.35%), Divis Laboratories (0.31%), Cadila Healthcare (0.26%) and Cipla (0.02%).
The Metal index was down 1.34%. Major losers were Jindal Steel & Power (2.92%), Hindalco Industries (0.88%), Coal India (0.54%), JSW Steel (0.37%) and Hindustan Zinc (0.27%).
The Consumer Durables index slipped 1.05%. Major losers were C.Mahendra Exports (4.52%), Bajaj Electricals (2%), Blue Star (1.46%), Gitanjali Gems (1.39%) and Whirlpool Of India (0.12%).
The Oil & Gas index was down 0.86%. Major losers were Gujarat State Petronet (1.97%), Oil India (1.92%), G A I L (India) (0.56%), Cairn India (0.4%) and Indian Oil Corporation (0.22%).
Major losers in the mid-cap space were Aban Offshore (1.48%), Alstom Projects India (1.21%), A I A Engineering (1.01%), A B G Shipyard (0.87%) and Allcargo Logistics (0.35%).
Major losers among small - caps were A2Z Maintenance & Engineering Services (2.69%), Adhunik Metaliks (2.67%), Aanjaneya Lifecare (2.31%), Reliance MediaWorks (1.81%) and A B G Infralogistics (1.44%).
Globally, Asian indices ended on a negative note while European indices were trading in the green