Markets snap 4-day winning streak ahead of IIP and CPI data

1. Markets snap 4-day winning streak ahead of IIP and CPI data
Market Snapshot | 11-06-2014 04:19 PM
Indian indices made a positive start to mark new record highs at 25735.87 and 7700 in the early deals. However,
markets plunged later on account of profit taking amid weak Asian cues. Benchmarks plunged further overlooking the
positive May trade deficit data as soft start of European markets weighed. Sensex and Nifty snapped 4-session
winning streak to end 0.4% down ahead of announcement of April IIP and May CPI tomorrow.
On global front, US markets remained lackluster despite robust growth in job openings in US workplaces. Tracking
the soft lead from Wall-Street, Asian and European indices too traded mixed.
Back home, on currency front, Rupee trimmed some losses against Dollar but continued to trade with a red mark. In
futures trades, INR hit an intra-day high of 59.37/USD and an intra-day low of 59.53/USD. In spot trades, INR hit an
intra-day high of 59.27/USD and an intra-day low of 59.36/USD. As per RBI reference rates, INR stood at 59.362/USD.
On commodities front, the yellow metal plunged in red zone after exhibiting positive trades in early hours. In futures
trades of August expiry, Gold marked intra-day high at Rs 26199 per 10 grams and an intra-day low at Rs 25956 per
10 grams.
On macro-economic front, in a positive development, trade deficit in May 2014 declined by 42.01% at $11.23 billion
against $19.37 billion in the May 2013. Exports accelerated to six months high in May by spiking 12.40% at $27.9
billion against $24.91 billion in the same month of previous fiscal. Imports in May contracted 11.41% at $39.23 billion
against $44.28 a year ago.
On the flip side, tracking the week monsoon forecasts by weather officials, World Bank has scaled down its estimate
for India's economic growth for FY15 to 5.5% as compared to 6.2% in its January Report. For FY16 and FY17, the
World Bank forecasted India's economic growth to be at 6.3% and 6.6% respectively.
On the stock-specific front, in a major development in banking industry, country’s biggest public sector bank will turn
giant after merging itself with its five subsidiaries. State Bank of India (1% up) is all set to merge its five associate
banks i.e. State Bank of Travancore, State Bank of Hyderabad, State Bank of Patiala, State Bank of Bikaner & Jaipur
and State Bank of Mysore with itself. This merger will result in a jump in combined market share to 24%, from 19% and
asset base of Rs 21.9 lakh crore.
CORE Education & Technologies rallied 5% on BSE after the board nodded for appointment of a leading real estate
consultant for developing or disposing off the non-core assets and real estate properties of the company worth
approximately Rs 400 crore.
Indian Hotels marked 52 week high at Rs 104.8 on BSE after the capital market regulator, Securities Exchange Board
of India (SEBI) nodded to the company’s proposal to raise up to Rs 1000 crore from rights issue.
L&T Finance Holdings tanked 5% on BSE after company’s promoter firm Larsen & Toubro (L&T) proposed to sell over
16.55 million shares of the company at a floor price of Rs 74 per share. The set floor price is at a 10% discount over
Tuesday's closing price of Rs 81.90 on the NSE.
Tech Mahindra marked fresh 52 week high at Rs 2047.9 on BSE on entering into a global services alliance agreement
with a HPS. The stock ended marginally up on BSE.
PTC India hit fresh 52 week high at Rs 104.4 on BSE after global rating agency Macquarie bought 15.76 lakh shares
of the company via open market route at an average price of Rs 100.58 valuing the transaction to Rs 15.86 crore. The
stock slipped 2% on BSE amidst weakness in market.
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1739 and 1522 respectively,
while 92 scrips remained unmoved.
The S&P BSE Sensex ended at 25473.89, down 109.80 points or 0.43%. The 30 share index touched a high and a
low of 25735.87 and 25365.65 respectively. 13 stocks advanced against 17 declining ones on the benchmark index.
The CNX Nifty lost 29.55 points or 0.39% to settle at 7626.85. The index touched high and low of 7700.05 and
7589.05 respectively. 19 stocks advanced against 31 declining ones on the index.
S&P BSE Sensex CNX Nifty

2. The S&P BSE Mid-cap index moved down to 9118.89 and lost 1.01% while S&P BSE Small-cap index hammered
down by 0.67% to 9950.03.
The broader S&P BSE 500 index decreased to 9751.15 (down 0.71%) and CNX 500 index declined to 6152.55 (down
0.64%).
The volatility as denoted by INDIA VIX gained 2.40% at 17.06 from its previous close of 16.66 on Tuesday.
Sectors in action
On the BSE Sectorial front, Information Technology (up 2.23%), Healthcare (up 0.66%) and Banks (up 0.06%) were
the top gainers.
Real Estate (down 4.21%), Consumer Durables (down 2.99%) and Metals (down 2.82%) were the top losers.
The Angels and the Devils
Infosys Ltd (up 3.64%), Tata Consultancy Services Ltd (up 2.23%), Dr. Reddys Laboratories Ltd (up 1.67%), Hero
MotoCorp Ltd (up 1.61%) and Bajaj Auto Ltd (up 1.14%) were the top gainers on the Sensex.
Tata Power Company Ltd (down 4.98%), Hindalco Industries Ltd (down 4.18%), Coal India Ltd (down 3.84%), Bharat
Heavy Electricals Ltd (down 3.33%) and NTPC Ltd (down 3.18%) were the top losers on the Sensex.
Benchmark Drivers
Infosys Ltd (63.16 points), Reliance Industries Ltd (-33.61 points), Tata Consultancy Services Ltd (32.82 points), Oil
and Natural Gas Corporation Ltd (-27.49 points) and ITC Ltd (-26.48 points) were the major Sensex drivers today.
On the other end Infosys Ltd (17.31 points), Reliance Industries Ltd (-8.64 points), Tata Consultancy Services Ltd
(8.60 points), Oil and Natural Gas Corporation Ltd (-6.80 points) and ITC Ltd (-6.76 points) were the major Nifty
movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7639 for next session. The next support is at 7577 and on upside it has a resistance at
7688 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
12-Jun-2014 7466 7528 7577 7639 7688 7750 7799 -
11-Jun-2014 7492 7536 7596 7640 7700 7744 7804 7626.85
10-Jun-2014 7505 7543 7599 7636 7692 7730 7786 7656.40
S&P BSE Sensex has a pivot at 25525 with first level of support and resistance at 25314 and 25685 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
12-Jun-2014 24944 25155 25314 25525 25685 25895 26055 -
11-Jun-2014 25020 25184 25384 25547 25747 25911 26111 25473.89
10-Jun-2014 25355 25426 25503 25574 25651 25722 25799 25583.69
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