Sales Traders Commentary : 17 May: Edelweiss

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Sales Traders Commentary

On Wednesday, equities plunged and the rupee hit a fresh record low as markets globally felt the tremors of the political upheaval in Greece. Auto, metal, capital goods and banking shares were the worst performing.
The Sensex closed at  16030.09, down 1.83%. The Nifty ended down 1.71% at 4858.25.
Gainers were BPCL (2.53%), Powergrid (1.65%), CAIRN (1.30%), Bajaj Auto (1.08%) and Kotak Mahindra Bank (1.02%).
Losers were Tata Motors (7.70%), Tata Steel (4.40%), SAIL (4.18%), Reliance Infra (3.73%) and JP Associates (3.59%).
The Auto index was at 9502.42, down 239.5 points or 2.46%. Major losers were Ashok Leyland (1.55%), Bharat Forge (1.05%), Apollo Tyres (0.71%), Mahindra & Mahindra (0.29%) and Hero Motocorp (0.24%).
The Metal index was at 10031.65, down 241.06 points or 2.35%. Major losers were Hindalco Industries (3.42%), Jindal Steel & Power (2.91%), Hindustan Zinc (1.92%), Coal India (1.56%) and Bhushan Steel (1.13%).
The Consumer Durables index was at 6527.08, down 105.32 points or 1.59%. Major losers were C.Mahendra Exports (6.68%), Titan Industries (3.41%), Rajesh Exports (1.24%), Blue Star (0.51%) and T T K Prestige (0.29%).
The Bankex was at 10588.75, down 155.7 points or 1.45%. Major losers were Bank Of India (3.5%), I C I C I Bank (2.74%), Canara Bank (2.3%), Federal Bank (2.1%) and H D F C Bank (0.73%).
Globally, Asia ended on a mute note while Europe was trading down