Sensex sheds 149 points as $10 bn QE tapering on cards

1. Sensex sheds 149 points as $10 bn QE tapering on cards
Market Snapshot | 30-01-2014 04:21 PM
Stretching the losing streak on fifth straight trading session, butchering of Indian equities continued on Fed decision of
10 billion withdrawal from its Quantitative Easing (QE) Program. Disappointing Chinese PMI numbers extended the
pessimism in global markets, weighing down heavily on the domestic sentiments. On F&O expiry day, both barometer
gauges pounded 1% to hit intra-day lows before recovering towards the end on short covering. Nifty plunged 0.76%.
On BSE sectorial front, Bankex topped the laggards followed by Realty. According to the experts, short term bias is
negative and 5980 is to be watched out as key support level on downside.
Among global peers, all the indices of US, Asian and European markets witnessed mayhem as US announced a $10
bn cut to its $75 bn monthly stimulus program in Ben Bernanke’s last Fed meet concluded yesterday. The next Fed
meet will be headed by Janet Yellen as Fed chairwoman. In another worrying development, Chinese manufacturing
PMI for January dipped to 49.5 from 50.5 in December, the first drop in six months.
Back home, according to a recent report of United Nations, Foreign Direct Investment (FDI) in India grew by 17% in
2013 to $28 billion. However, in 2013, India slipped by one position to 16th position in the list of top 20 global
economies receiving FDI. Moreover, global FDI increased by 11% in 2013 to around $1.46 trillion, highest levels since
2008. (Read More)
On stock specific front, automobile major, Tata Motors climbed 2.66% on BSE as the company is likely to get Rs 1000
crore contract from Ministry of Defence for the supply of 1239 heavy duty trucks. (Read More)
Bharat Heavy Electricals Ltd (BHEL) shined 1.3% on BSE on entering into agreement to set up the world’s largest
4,000 MW ultra-mega solar power project in Rajasthan. (Read More)
Key Quarterly Results
Hero Moto Corp plummeted 3% on BSE as the company’s Q3 Net grew 7.5% to Rs 524.6 crore year on year against a
market expectation of Rs 621 crore. The net sales of the company rose 11% to Rs 6876 crore in the quarter ended
December 2013.
Bank of India tanked 10.5% on BSE on posting 27.1% fall in Q3FY14 Net at Rs 585.8 crore as compared to Rs 803.4
crore in the same quarter of previous fiscal. The bank’s Net NPA dropped marginally to 1.75% as compared to 1.97%
in Q3FY13. (Featured Result)
Muthoot Finance slumped 3% on BSE after posting 28.07% fall in Q3 Net at Rs 194.25 crore as compared to Rs
270.07 crore for the same quarter in the previous year. (Result)
Tata Global Beverages slipped 1% on BSE amidst negative sentiments in the market. The company’s consolidated
Net jumped 49% to Rs 119.55 crore in Q3FY14 as compared to Rs 80.26 crore for the same quarter in the previous
year. On standalone basis, the Net jumped 23.56% rise in the quarter at Rs 87.95 crore as compared to Rs 71.18
crore for Q3FY13. (Result)
JSW Energy dipped 1% on BSE as the company’s Q3FY14 Net plunged 54.7% to Rs 134.1 crore as compared to Rs
296.3 crore in the same quarter of the previous year. (Result)
The market breadth on the BSE closed in negative. Advancing and declining stocks were 869 and 1718 respectively,
while 133 scrips remained unmoved.
The S&P BSE Sensex ended at 20498.25, down 149.05 points or 0.72%. The 30 share index touched a high and a
low of 20528.41 and 20343.78 respectively. 11 stocks advanced against 19 declining ones on the benchmark index.
The CNX Nifty lost 46.55 points or 0.76% to settle at 6073.70. The index touched high and low of 6082.85 and
6027.25 respectively. 13 stocks advanced against 37 declining ones on the index.
S&P BSE Sensex
CNX Nifty
The S&P BSE Mid-cap index moved down to 6211.37 and lost 1.13% while S&P BSE Small-cap index hammered
down by 1.47% to 6181.80.
The broader S&P BSE 500 index decreased to 7445.97 (down 0.98%) and CNX 500 index declined to 4675.10 (down
0.96%).

2. The volatility as denoted by INDIA VIX lost 4.38% at 17.25 from its previous close of 18.04 on Wednesday.
Sectors in action
On the BSE Sectorial front, Consumer Durables (up 1.73%) and Automobile (up 0.27%) were the top gainers.
Banks (down 2.67%), Real Estate (down 2.60%) and Metals (down 2.52%) were the top losers.
The Angels and the Devils
Tata Motors Ltd (up 2.66%), Bharti Airtel Ltd (up 2.24%), Bharat Heavy Electricals Ltd (up 1.29%), GAIL (India) Ltd (up
1.01%) and Mahindra and Mahindra Ltd (up 0.88%) were the top gainers on the Sensex.
State Bank of India (down 3.56%), Hero MotoCorp Ltd (down 3.43%), Sesa Sterlite Ltd (down 3.38%), Hindalco
Industries Ltd (down 3.35%) and Tata Steel Ltd (down 3.20%) were the top losers on the Sensex.
Benchmark Drivers
ICICI Bank (-36.43 points), HDFC Bank (-29.33 points), Reliance Industries Ltd (-22.78 points), State Bank of India (20.03 points) and Tata Motors Ltd (19.29 points) were the major Sensex drivers today.
On the other end ICICI Bank (-8.99 points), HDFC Bank (-7.58 points), Reliance Industries Ltd (-5.98 points), Tata
Motors Ltd (5.16 points) and State Bank of India (-5.09 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6061 for next session. The next support is at 6040 and on upside it has a resistance at
6095 levels.
CNX Nifty
Eff. Date
31-Jan-2014
30-Jan-2014
29-Jan-2014
S3
5984
6036
6009
S2
6006
6073
6048
S1
6040
6097
6087
PIVOT
6061
6134
6125
R1
6095
6157
6165
R2
6117
6194
6203
R3
6151
6218
6242
Actual Close
6073.70
6120.25
S&P BSE Sensex has a pivot at 20457 with first level of support and resistance at 20385 and 20570 respectively.
S&P BSE Sensex
Eff. Date
31-Jan-2014
30-Jan-2014
29-Jan-2014
S3
20201
20349
20319
Follow us on
S2
20272
20481
20437
S1
20385
20564
20560
PIVOT
20457
20697
20678
R1
20570
20779
20801
R2
20641
20912
20919
R3
20754
20994
21042
Actual Close
20498.25
20647.30
This content is generated at www.finalaya.com and is governed by the Terms of Use.