- The Indian markets opened lower on profit-taking but gained throughout the day to reach new record highs, supported by Cabinet approval of increased FDI limits in insurance and positive economic data from China. The Sensex gained 125 points and Nifty gained 35 points. - Metals and IT sectors saw the largest gains, while consumer durables and power sectors declined. Key companies like Hindalco, Tata Steel and Wipro rose while GAIL and Dr Reddy's fell. - Rupee strengthened against the dollar and gold prices fell as US and Asian markets rose on economic growth.

1. Markets flag record high for second day; Metal index glitters
Market Snapshot | 24-07-2014 04:20 PM
Following yesterday’s record closing, Indian Indices started in red on profit taking. However, the losses remained
capped on the lower side amidst the optimism in global markets. In late noon trades, bulls took charge of the
proceedings to flag new record highs on Cabinet’s nod for 49% FDI in insurance and Chinese economic data. Sensex
soared about 125 points to end at 26271.85 and Nifty gained 35 points to settle at 7830.65. Among BSE sectorials,
Metal topped the gainers.
On global front, US markets spurted with S&P 500 closing at record levels amidst the reports that two Ukrainian
fighter jets were shot down near the site where Malaysia Airlines Flight MH17 was downed. Asian and European
markets too traded on a joyous note to cheer the upbeat macro-economic reports of China and Japan.
Back home, on currency front, Rupee continued to climb against Dollar tracking the inflows of foreign fund in
domestic market. In futures trades, INR hit an intra-day high of 60.01/USD and an intra-day low of 60.15/USD. In spot
trades, INR hit an intra-day high of 59.98/USD and an intra-day low of 60.12/USD. As per RBI reference rates, INR
stood at 60/USD.
On commodities front, the yellow metal traded southwards amidst gains in US equities. In futures trades of August
expiry, Gold marked an intra-day high at Rs 27850 per 10 grams and an intra-day low at Rs 27707 per 10 grams.
On macro-economic front, the long awaited proposal of hiking foreign investment limit in Indian insurance sector has
finally got clearance from Cabinet. The Insurance Amendment Bill, which has been pending in the Parliament since
2008, has proposed to enhance FDI limit to 49% with full management and control through Foreign Investment
Promotion Board (FIPB) route. This will give the maximum benefit to private players in insurance sector who are facing
shortage of funds. Stocks of insurance companies gained up to 4%.
On stock specific front, Panacea Biotec zoomed 9.3% on BSE on reports that company’s Board of Directors will
meet on August 1, 2014 to consider raising of funds to the tune of Rs 250 crore by way of issue of securities.
IPCA Laboratories crashed 13% on BSE on voluntarily suspending API shipments from its manufacturing facility to the
US markets untill USFDA issue is addressed.
Container Corporation of India (CONCOR) gained 1.7% on BSE after Department of Public Enterprises, Government
of India granted the coveted Navratna status to the company.
Key Quarterly Results
ACC Ltd ended marginally up on BSE after its Net declined 7% in Q1FY15 at Rs 241.02 crore as compared to Rs
259.09 crore for the same quarter in the previous year. On consolidated basis, group’s Net slipped 7.10% at Rs 243.15
crore for the quarter as compared to Rs 261.76 crore in Q1FY14.
Century Textiles & Industries marked fresh 52 week high at Rs 650.5 before ending with a red mark on BSE. Company
recorded a steep jump of 76.60% in June quarter Net at Rs 66.49 crore as compared to Rs 37.65 crore for the same
period of previous year.
Cairn India tumbled 6.7% on BSE as the company posted a deep fall of 67.63% in Q1FY15 Net at Rs 643.81 crore as
compared to Rs 1989.12 crore for the same quarter in the previous year. On consolidated basis, group’s Net plunged
65.05% at Rs 1092.9 crore for the quarter as compared to Rs 3127.23 crore in Q1FY14.
Liberty Shoes tanked 8% on BSE on recording a meek growth of 1.03% in June quarter at Rs. 3.32 crore as compared
to Rs 3.29 crore in the same quarter of the previous year.
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1591 and 1498 respectively,
while 139 scrips remained unmoved.
The S&P BSE Sensex ended at 26271.85, up 124.52 points or 0.48%. The 30 share index touched a high and a low
of 26292.66 and 26077.70 respectively. 21 stocks advanced against 9 declining ones on the benchmark index.
The CNX Nifty gained 34.85 points or 0.45% to settle at 7830.60. The index touched high and low of 7835.65 and
7771.65 respectively. 36 stocks advanced against 14 declining ones on the index.
S&P BSE Sensex CNX Nifty

2. The S&P BSE Mid-cap index moved down to 9293.46 and lost 0.20% while S&P BSE Small-cap index jumped up by
0.25% to 10229.33.
The broader S&P BSE 500 index increased to 9960.00 (up 0.29%) and CNX 500 index rose to 6278.95 (up 0.29%).
The volatility as denoted by INDIA VIX gained 0.20% at 14.72 from its previous close of 14.69 on Wednesday.
Sectors in action
On the BSE Sectorial front, Metals (up 1.47%), Information Technology (up 0.90%) and FMCG (up 0.86%) were the
top gainers.
Consumer Durables (down 0.93%), Power (down 0.34%) and Healthcare (down 0.25%) were the top losers.
The Angels and the Devils
Hindalco Industries Ltd (up 2.30%), Tata Steel Ltd (up 2.18%), Hindustan Unilever Ltd (up 1.55%), Wipro Ltd (up
1.31%) and ITC Ltd (up 1.09%) were the top gainers on the Sensex.
GAIL (India) Ltd (down 2.04%), Dr. Reddys Laboratories Ltd (down 0.73%), Hero MotoCorp Ltd (down 0.66%), Cipla
Ltd (down 0.61%) and Axis Bank (down 0.22%) were the top losers on the Sensex.
Benchmark Drivers
ITC Ltd (24.65 points), Infosys Ltd (17.54 points), Reliance Industries Ltd (15.74 points), HDFC Bank (13.96 points)
and Hindustan Unilever Ltd (12.19 points) were the major Sensex drivers today.
On the other end Infosys Ltd (4.64 points), ITC Ltd (4.52 points), Reliance Industries Ltd (4.02 points), HDFC Bank
(3.32 points) and HCL Technologies Ltd (3.28 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7813 for next session. The next support is at 7790 and on upside it has a resistance at
7854 levels.
CNX NiftyCNX Nifty
Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close
25-Jul-2014 7726 7749 7790 7813 7854 7877 7918 -
24-Jul-2014 7706 7730 7763 7786 7819 7842 7875 7830.60
23-Jul-2014 7655 7680 7724 7749 7793 7818 7862 7795.75
S&P BSE Sensex has a pivot at 26214 with first level of support and resistance at 26135 and 26350 respectively.
S&P BSE SensexS&P BSE Sensex
Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close
25-Jul-2014 25921 25999 26135 26214 26350 26429 26565 -
24-Jul-2014 25847 25924 26036 26112 26224 26300 26412 26271.85
23-Jul-2014 25584 25682 25854 25952 26124 26222 26394 26147.33
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