Markets shrug off IIP and WPI numbers to settle in red

1. Markets shrug off IIP and WPI numbers to settle in red
Market Snapshot | 14-07-2014 04:20 PM
Shrugging off the rocking May IIP numbers and positive global cues, Indian indices plunged in morning deals after a
positive start. Benchmarks continued to trade below water with Sensex trading below the crucial mark of 25K. Cheerful
June WPI digits too failed to convince the bulls. The D-Street ended the day in negative terrain to settle 0.07% down
with Sensex at 25007 and Nifty at 7454. On BSE sectorial front, Consumer Durables was the top loser whereas
Capital Goods topped the charts.
Among global peers, US markets crept up after witnessing lack of direction in early trades. Asian and European
markets too exhibited positive trades ahead of some key earnings results.
Back home, on currency front, Rupee was trading weak against Dollar amidst soft trades in local equities. In futures
trades, INR hit an intra-day high of 60.08/USD and an intra-day low of 60.36/USD. In spot trades, INR hit an intra-day
high of 59.9/USD and an intra-day low of 60.18/USD. As per RBI reference rates, INR stood at 60.01/USD.
On commodities front, the yellow metal slipped paring the early gains on heavy sell off by the investors. In futures
trades of August expiry, Gold marked intra-day high at Rs 28304 per 10 grams and an intra-day low at Rs 28027 per
10 grams.
On macro-economic front, good times seem to have started for Modi Government as evinced from some cheerful
macro-economic digits. India's main inflation gauge based on monthly Wholesale Price Index (WPI) relaxed to four
months low in June at 5.43% as compared to 6.01% in the previous month and 5.16% during the corresponding month
of the previous year. Country had an expectation of over 5.5% for the month of June.
The sparkling numbers of Index of Industrial Production (IIP) for the month of May added to the joy by hitting 19 month
high level i.e. the best since October 2012. IIP for the month of May stood at 4.7% as compared to 3.4% in April 2014.
Country had an expectations of 3.76%.
On stock-specific front, Advani Hotels & Resorts (India) was locked at 20% upper circuit on the buzz of ITC acquiring
Ramada Caravela for Rs 700 crore to get its first luxury property in Goa.
Hindalco jumped 4.15% on BSE on investor’s optimism towards increase in export duty on bauxite from 10% to 20%
announced by Finance Minister Arun Jaitley in Union Budget 2014-15.
Key quarterly results
Unichem Laboratories plunged 4.42% on BSE after posting 16.34% fall in Q1 Net at Rs 30.20 as compared to Rs
36.10 crore for the same quarter in the previous year.
Cera Sanitaryware gained 2% on BSE on reporting 22% jump in Q1 Net at Rs 13.63 crore as compared to Rs 11.18
crore for the same quarter in the previous year.
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1200 and 1743
respectively, while 130 scrips remained unmoved.
The S&P BSE Sensex ended at 25006.98, down 17.37 points or 0.07%. The 30 share index touched a high and a
low of 25095.76 and 24892.00 respectively. 13 stocks advanced against 17 declining ones on the benchmark index.
The CNX Nifty lost 5.45 points or 0.07% to settle at 7454.15. The index touched high and low of 7478.45 and 7422.15
respectively. 24 stocks advanced against 26 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 8873.70 and lost 0.02% while S&P BSE Small-cap index hammered
down by 0.47% to 9642.46.
The broader S&P BSE 500 index increased to 9511.16 (up 0.01%) and CNX 500 index declined to 5990.70 (down
0.02%).
The volatility as denoted by INDIA VIX lost 1.02% at 15.56 from its previous close of 15.72 on Friday.

2. Sectors in action
On the BSE Sectorial front, Capital Goods (up 1.14%), Automobile (up 0.99%) and Metals (up 0.97%) were the top
gainers.
Consumer Durables (down 2.24%), Information Technology (down 1.27%) and Real Estate (down 0.78%) were the top
losers.
The Angels and the Devils
Hindalco Industries Ltd (up 4.15%), Tata Power Company Ltd (up 2.80%), Tata Steel Ltd (up 2.60%), Tata Motors Ltd
(up 2.41%) and Axis Bank (up 1.68%) were the top gainers on the Sensex.
Infosys Ltd (down 2.97%), Hindustan Unilever Ltd (down 2.64%), Wipro Ltd (down 2.19%), Sesa Sterlite Ltd (down
1.28%) and NTPC Ltd (down 1.27%) were the top losers on the Sensex.
Benchmark Drivers
Infosys Ltd (-55.46 points), Larsen And Toubro Ltd (23.22 points), Tata Motors Ltd (21.99 points), Hindustan Unilever
Ltd (-21.02 points) and Tata Consultancy Services Ltd (18.04 points) were the major Sensex drivers today.
On the other end Infosys Ltd (-14.35 points), Hindustan Unilever Ltd (-5.93 points), Larsen And Toubro Ltd (5.59
points), Tata Consultancy Services Ltd (5.42 points) and Tata Motors Ltd (5.18 points) were the major Nifty movers
today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7452 for next session. The next support is at 7425 and on upside it has a resistance at
7481 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
15-Jul-2014 7368 7395 7425 7452 7481 7508 7537 -
14-Jul-2014 7217 7332 7396 7511 7575 7690 7753 7454.15
11-Jul-2014 7202 7341 7454 7593 7706 7845 7958 7459.60
S&P BSE Sensex has a pivot at 24998 with first level of support and resistance at 24901 and 25104 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
15-Jul-2014 24697 24794 24901 24998 25104 25202 25308 -
14-Jul-2014 24249 24614 24819 25184 25389 25754 25959 25006.98
11-Jul-2014 24216 24667 25020 25470 25823 26274 26627 25024.35
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