Sensex scampers to 24k as exit polls predict NDA triumph

1. Sensex scampers to 24k as exit polls predict NDA triumph
Market Snapshot | 13-05-2014 04:22 PM
The exit poll portraying Modi led NDA to form Government left its heavy impressions on the D-Street today. Following
yesterday’s mammoth moves, Indian indices continued to trade jubilantly with Sensex surpassing 24K for the first time
shrugging off the weak macro-economic digits. Cheering the exit polls, both Sensex and Nifty marked record highs for
the third straight day at 24068.94 and 7172 respectively. However, barometer gauges pared some of their gains amidst
disappointing Q4 earnings, unsatisfactory economic data and profit booking at record levels. Sensex and Nifty settled
1.35% up marking new closing record highs.
On BSE sectorial front, Power sector rocked the show by surging 3.26% followed by Consumer Durables. Oil and
Gas stood third on the list with the support of rally in public sector Oil Marketing Companies (OMCs) after hiking diesel
price by Rs 1.09 per litre from 12 May midnight.
Among global peers, US markets crept up to hit fresh record highs after US government recorded a budget surplus
of $107 billion in April, a smaller windfall than in the same month last year. Tracking positive lead from Wall-Street,
Asian and European markets too edged higher.
On macro-economic front, retail inflation gauge, Consumer Price Index (CPI) accelerated to three months high in
April. India general Consumer Price Index (CPI) (Combined) rose to 8.59% in April 2014 as against 8.31% in March
2014. However, the core consumer price index (CPI) eased modestly to 7.80% in April from a year earlier and from a
7.82% in March.
Additionally, Index of Industrial Production (IIP) that gauges India’s annual industrial output growth was also announced
yesterday after market hours. IIP for March contracted less than expected at 0.5% for March as compared to 9-month
low figure of -1.9% in February.
On stock specific front, Bharat Heavy Electricals Ltd zoomed 10.25% to mark fresh 52 week at Rs 229.85 on BSE
ahead of Cabinet's meeting with agenda to consider 4.66% stake sale of the company.
Tata Steel spurted 1.6% to make new 52 week high at Rs 441.25 on BSE as the company is reportedly planning to
raise $1.24 billion overseas via the sale of bonds by one of its Singapore entities. This is part of a mega $7 billion debt
refinancing initiative for Tata Steel Europe, formerly known as Corus.
Tata Motors rallied to make fresh 52 week high at Rs 455.55 on BSE after its British arm Jaguar and Land Rover’s
(JLR) global sales jumped at 37171 units in April 2014.
Key Quarterly Results
Punjab National Bank plummeted 4.16% after hitting new 52 week high at Rs 877.6 on recording 28.69% dip in Q4
Net at Rs 806.35 crore as compared to Rs 1130.80 crore for the same quarter in the previous year.
Bank of Baroda shot up 4.6% to make new 52 week high at Rs 913 on BSE after reporting 12.5% jump in Q4 Net at Rs
1157.27 crore as compared to Rs 1028.85 crore for the same quarter in the previous year.
Torrent Power registered 8-fold jump in Q4 consolidated Net at Rs 177.45 crore as compared to Rs 22.24 crore for the
same quarter in the previous year. The stock marked new 52 week high at Rs 147.9 before slumping 7.35% on profit
booking.
Just Dial posted 60% slump in Q4 Net at Rs 21.3 crore as compared to Rs 34.15 crore in the same quarter of the
previous year. The stock gained 2.15% on BSE.
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1694 and 1322 respectively,
while 163 scrips remained unmoved.
The S&P BSE Sensex ended at 23871.23, up 320.23 points or 1.36%. The 30 share index touched a high and a low
of 24068.94 and 23729.25 respectively. 24 stocks advanced against 6 declining ones on the benchmark index.
The CNX Nifty gained 94.50 points or 1.35% to settle at 7108.75. The index touched high and low of 7172.35 and
7067.15 respectively. 42 stocks advanced against 8 declining ones on the index.
S&P BSE Sensex CNX Nifty

2. The S&P BSE Mid-cap index moved up to 7618.62 and gained 1.44% while S&P BSE Small-cap index jumped up by
1.71% to 7762.92.
The broader S&P BSE 500 index increased to 8826.61 (up 1.53%) and CNX 500 index rose to 5562.55 (up 1.51%).
The volatility as denoted by INDIA VIX lost 13.64% at 32.05 from its previous close of 37.11 on Monday.
Sectors in action
On the BSE Sectorial front, Power (up 3.26%), Consumer Durables (up 2.92%) and Oil & Gas (up 2.84%) were the top
gainers.
Healthcare (down 0.45%) was the sole loser.
The Angels and the Devils
Bharat Heavy Electricals Ltd (up 10.25%), Hero MotoCorp Ltd (up 5.39%), Oil and Natural Gas Corporation Ltd (up
3.81%), Tata Power Company Ltd (up 3.62%) and Wipro Ltd (up 3.36%) were the top gainers on the Sensex.
Dr. Reddys Laboratories Ltd (down 3.99%), Tata Motors Ltd (down 0.94%), Hindalco Industries Ltd (down 0.84%),
HDFC Bank (down 0.60%) and Sun Pharmaceutical Industries Ltd (down 0.47%) were the top losers on the Sensex.
Benchmark Drivers
Reliance Industries Ltd (66.23 points), Infosys Ltd (49.17 points), Tata Consultancy Services Ltd (34.43 points), Oil
and Natural Gas Corporation Ltd (26.86 points) and Housing Development Finance Corporation Ltd (23.70 points)
were the major Sensex drivers today.
On the other end Reliance Industries Ltd (18.50 points), Infosys Ltd (13.20 points), Tata Consultancy Services Ltd
(9.10 points), Oil and Natural Gas Corporation Ltd (7.19 points) and Larsen And Toubro Ltd (5.52 points) were the
major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7116 for next session. The next support is at 7060 and on upside it has a resistance at
7165 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
14-May-2014 6955 7011 7060 7116 7165 7221 7270 -
13-May-2014 6754 6809 6911 6966 7069 7123 7226 7108.75
12-May-2014 6498 6575 6717 6794 6936 7013 7155 7014.25
S&P BSE Sensex has a pivot at 23890 with first level of support and resistance at 23711 and 24050 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
14-May-2014 23371 23550 23711 23890 24050 24230 24390 -
13-May-2014 22618 22813 23182 23378 23746 23942 24311 23871.23
12-May-2014 21793 22055 22525 22787 23256 23518 23987 23551.00
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