Benchmarks slump 1.5% on sluggish global cues

1. Benchmarks slump 1.5% on sluggish global cues
Market Snapshot | 01-08-2014 04:52 PM
Sluggish global cues dragged Indian indices lower at start with Nifty below 7700 mark. Massacre continued further
amidst mixed macro-economic digits for July. Benchmarks plunged over one and a half percent to settle near the day’s
low levels. On BSE sectorial front, Consumer Durables topped the laggards by slumping 3.27%.
Among global markets, US markets crashed with the Dow Jones Industrial Average witnessing its biggest one-day
drop in six months due to a big sell off in Argentina market. Asian and European markets too followed the Wall Street to
trade in deep red zone.
On major macro-economic developments, India’s fiscal deficit for first quarter has crossed half the budget estimate
for entire FY15. Fiscal deficit widened 56.1% of the budget estimate of Rs 5.31 lakh crore in April-June quarter backed
by the slow growth of revenue receipts and rising interest payments. The government has set fiscal deficit target at
4.1% of GDP for FY15.
On the positive side, manufacturing sector of the country showed a robust growth for the ninth straight month in July as
measured by the HSBC Manufacturing Purchasing Managers’ Index (PMI). The PMI expanded at its quickest pace
since February 2013 at 53 in July 2014 as against 51.5 in June 2014.
Giving some relief to the common man’s pocket, the prices of Petrol and non-subsidized domestic cooking gas were
slashed. Petrol became cheaper by Rs 1.09 per liter. Prices of non-subsidized domestic cooking gas were also
slashed by Rs 2.5 for a 14.2 kg cylinder and Rs 4 for a 19 kg cylinder. However, Diesel prices were hiked by 56 paise
per liter. Oil & Gas Index dipped in red amidst the pessimism in market.
Among stock specific developments, Maruti Suzuki India jumped 2.5% on BSE in the otherwise negative market
after its total car sales spurted 21.7% in July 2014 at 101380 units as against 83299 units in July 2013.
Steel Strips Wheels (SSWL) spiked 2.46% on BSE after recording 25% growth in total wheel rim for the month of July
2014 at Rs 11.03 lakh as compared to Rs 8.82 lakh in July 2013.
Key Quarterly Results
Tech Mahindra ended 1.08% down on BSE after posting a decline of 12% in Q1FY15 Net at Rs 527 crore as
compared to Rs 598.87 crore for the same period a year ago. On consolidated basis, group’s Net dipped 8.09% to Rs
630.72 crore for the quarter as compared to Rs 686.31 crore in Q1FY14.
Realty major, DLF gained 1.11% on BSE despite recording a big fall of 51.62% at Rs 72.64 crore in June quarter of
FY15 as compared to Rs 150.16 crore for same quarter of previous fiscal. On consolidated basis, group’s Net slipped
29.52% to Rs 127.70 crore for the quarter as compared to Rs 181.19 crore for Q1FY14.
JSW Steel recorded a robust growth of 463% in Q1 Net at Rs 801.3 crore as against a Net loss of Rs 220 crore in the
same quarter of previous fiscal. The stock ended marginally down on BSE.
NTPC tumbled 4% on BSE after its June quarter Net fell 12.9% to Rs 2201.20 crore as compared to Rs 2527.02 crore
for the same period a year ago.
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1183 and 1829
respectively, while 133 scrips remained unmoved.
The S&P BSE Sensex ended at 25480.84, down 414.13 points or 1.60%. The 30 share index touched a high and a
low of 25862.68 and 25459.13 respectively. 5 stocks advanced against 25 declining ones on the benchmark index.
The CNX Nifty lost 118.70 points or 1.54% to settle at 7602.60. The index touched high and low of 7716.70 and
7593.90 respectively. 8 stocks advanced against 42 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 9114.33 and lost 0.80% while S&P BSE Small-cap index hammered
down by 0.99% to 9890.97.
The broader S&P BSE 500 index decreased to 9703.32 (down 1.30%) and CNX 500 index declined to 6111.70 (down
1.34%).

2. The volatility as denoted by INDIA VIX gained 10.13% at 15.22 from its previous close of 13.82 on Thursday.
Sectors in action
Consumer Durables (down 3.27%), Oil & Gas (down 2.16%) and Capital Goods (down 1.90%) were the top losers.
The Angels and the Devils
Maruti Suzuki India Ltd (up 2.48%), Bharti Airtel Ltd (up 1.87%), Hindustan Unilever Ltd (up 1.22%), ICICI Bank (up
0.23%) and Hero MotoCorp Ltd (up 0.11%) were the top gainers on the Sensex.
Hindalco Industries Ltd (down 3.71%), GAIL (India) Ltd (down 3.07%), Tata Power Company Ltd (down 3.06%), Cipla
Ltd (down 3.02%) and NTPC Ltd (down 2.93%) were the top losers on the Sensex.
Benchmark Drivers
Reliance Industries Ltd (-56.33 points), Housing Development Finance Corporation Ltd (-47.76 points), ITC Ltd (-41.30
points), Tata Consultancy Services Ltd (-41.12 points) and HDFC Bank (-40.76 points) were the major Sensex drivers
today.
On the other end Reliance Industries Ltd (-15.55 points), Housing Development Finance Corporation Ltd (-12.41
points), Tata Consultancy Services Ltd (-10.85 points), ITC Ltd (-10.50 points) and HDFC Bank (-10.36 points) were
the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7638 for next session. The next support is at 7559 and on upside it has a resistance at
7682 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
04-Aug-2014 7436 7515 7559 7638 7682 7761 7804 -
01-Aug-2014 7610 7661 7691 7741 7772 7822 7852 7602.60
31-Jul-2014 7642 7675 7733 7766 7824 7857 7915 7721.30
S&P BSE Sensex has a pivot at 25601 with first level of support and resistance at 25339 and 25743 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
04-Aug-2014 24936 25197 25339 25601 25743 26004 26146 -
01-Aug-2014 25528 25691 25793 25956 26058 26221 26323 25480.84
31-Jul-2014 25657 25754 25920 26017 26184 26280 26447 25894.97
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