Sales Traders Commentary : 26 June: Edelweiss

Sales Traders Commentary

On Monday, the domestic equity market reversed its gains in the last hour of trade on back of less-than-expected measures announced by RBI and weak global cues. Sensex and Nifty dipped 0.50% each. Selling was seen in financials, power, PSU, realty and IT stocks.

While the Sensex closed at 16882, down 90 points, the Nifty slipped 32 points to end the day at 5114.

Major gainers were Maruti Suzuki India (1.14%), G A I L (India) (0.76%), Reliance Industries (0.72%), Housing Development Finance Corporation (0.51%), Bajaj Auto (0.31%), and Dr Reddy`s Laboratories (0.24%).

Major losers were Hero Motocorp (2.72%), Hindalco Industries (2.35%), Oil & Natural Gas Corporation (2.31%), Cipla (2.26%), State Bank of India (1.94%), and Bharat Heavy Electricals (1.63%).

The Consumer Durables index jumped 0.16%. Major gainers were V I P Industries (1.33%), Rajesh Exports (0.67%), T T K Prestige (0.44%), Titan Industries (0.25%) and Blue Star (0.12%).

The Bankex slipped 1.02%. Major losers were Bank of Baroda (1.91%), Canara Bank (1.36%), H D F C Bank (1.15%), Federal Bank (0.64%) and Bank of India (0.06%).

The Power index was down 0.94%. Major losers were Bharat Heavy Electricals (1.63%), Reliance Infrastructure (1.45%), Adani Power (0.95%), G M R Infrastructure (0.22%) and A B B (0.15%).

The PSU index slipped 0.85%. Major losers were Bank of Baroda (1.91%), Bharat Heavy Electricals (1.63%), Allahabad Bank (1.36%), Balmer Lawrie & Company (0.86%) and Bank of India (0.06%).

Major losers in the mid–cap space were Anant Raj Industries (2.14%), Allcargo Logistics (1.71%), A B G Shipyard (1.36%), Aban Offshore (0.33%) and CORE Education and Technologies (0.07%).

Major gainers among small caps were Ajanta Pharma (3.09%), Trident (1.14%), Aegis Logistics (0.78%), Action Construction Equipment (0.34%) and A B G Infralogistics (0.06%).

Globally, Asian indices ended on a lower note while European indices were trading in the red.

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