After yesterday’s massacre, some happiness returned on D-street as key benchmarks rose in the late morning deals despite mixed global cues. Finance Ministry’s clarification on validity of Tax Residency Certificate (TRC) provided the needed impetus to bounce back from yesterday’s lows. Finance Minister’s announcement on TRC during budget speech had earlier confused the foreign investors. Markets continued to trade in positive before closing in green with trimmed gains. Nifty gained 0.47% to close above 5700. Sensex gained 57 points to close above 18900.

1. Markets end in green on TRC clarification
Market Summary
01-Mar-2013
After yesterday’s massacre, some happiness returned on D-street as key benchmarks rose in the late morning deals
despite mixed global cues. Finance Ministry’s clarification on validity of Tax Residency Certificate (TRC) provided the
needed impetus to bounce back from yesterday’s lows. Finance Minister’s announcement on TRC during budget
speech had earlier confused the foreign investors. Markets continued to trade in positive before closing in green with
trimmed gains. Nifty gained 0.47% to close above 5700. Sensex gained 57 points to close above 18900.
S&P Realty (down 4%) continued to be battered. DLF (down 6.25%) & Prestige Estate (down 3.41%) led the sector fall
on BSE.
Midcap recovered some of the hefty losses sustained in previous few sessions. Notably Core Education, which fell
over 80% during the week, touched a fresh 52 week low at Rs 49.40 on BSE today and recovered subsequently to
close 18.78% up on BSE. Suzlon Energy bounced back 18.07% on BSE after yesterday’s steep decline over
promoter’s stake sell.
United Spirits rallied 2.02% on BSE as Diageo received nod from Competition Commission of India for purchasing
stake in the company. (News)
Maruti Suzuki gained 4.98% on BSE and was the top gainer on both Sensex and Nifty despite 7.9% drop in the Feb
2013 total sales. (News)
Larsen & Toubro jumped 2.51% on BSE after research firm Credit Suisse has upgraded the stock to “neutral” with a
target price of Rs 1379.
Adani Enterprises plunged 2.29% on BSE ahead of its stake sale by promoters through Offer for Sale (OFS) in the
next trading session.
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1366 and 1548
respectively, while 123 scrips remained unmoved.
The S&P BSE Sensex ended at 18918.52, up 56.98 points or 0.30%. The 30 share index touched a high and a low of
18988.97 and 18820.90 respectively. 16 stocks advanced against 14 declining ones on the benchmark index.
The CNX Nifty gained 26.65 points or 0.47% to settle at 5719.70. The index touched high and low of 5739.45 and
5679.90 respectively. 29 stocks advanced against 20 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 6320.95 and gained 0.29% while S&P BSE Small-cap index hammered
down by 0.18% to 6195.32.
The broader S&P BSE 500 index increased to 7188.55 (up 0.35%) and CNX 500 index rose to 4499.75 (up 0.50%).
The volatility as denoted by INDIA VIX lost 5.38% at 14.06 from its previous close of 14.86 on Thursday.
Sectors in action
On the BSE Sectorial front, Consumer Durables (up 3.20%), Capital Goods (up 1.62%) and Automobile (up 1.50%)
were the top gainers.
Real Estate (down 3.93%), FMCG (down 0.09%) and Oil & Gas (down 0.04%) were the top losers.
The Angels and the Devils
Maruti Suzuki India Ltd (up 4.98%), Jindal Steel and Power Ltd (up 2.87%), Tata Power Company Ltd (up 2.70%),
Bajaj Auto Ltd (up 2.63%) and Larsen And Toubro Ltd (up 2.51%) were the top gainers on the Sensex.
Bharti Airtel Ltd (down 3.89%), Dr. Reddys Laboratories Ltd (down 1.44%), ITC Ltd (down 1.42%), Hero MotoCorp Ltd
(down 1.30%) and Tata Consultancy Services Ltd (down 1.00%) were the top losers on the Sensex.

2. Benchmark Drivers
ITC Ltd (-27.56 points), Housing Development Finance Corporation Ltd (23.87 points), Larsen And Toubro Ltd (22.59
points), ICICI Bank (22.03 points) and Bharti Airtel Ltd (-19.93 points) were the major Sensex drivers today.
On the other end Housing Development Finance Corporation Ltd (9.62 points), ITC Ltd (-6.70 points), Larsen And
Toubro Ltd (6.19 points), ICICI Bank (5.59 points) and Hindustan Unilever Ltd (4.18 points) were the major Nifty
movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5713 for next session. The next support is at 5687 and on upside it has a resistance at
5746 levels.
CNX Nifty
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
04-Mar-2013 5627 5653 5687 5713 5746 5773 5806 -
01-Mar-2013 5449 5560 5627 5738 5805 5916 5983 5719.70
28-Feb-2013 5690 5720 5758 5788 5827 5857 5895 5693.05
S&P BSE Sensex has a pivot at 18909 with first level of support and resistance at 18830 and 18998 respectively.
S&P BSE Sensex
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
04-Mar-2013 18662 18741 18830 18909 18998 19078 19166 -
01-Mar-2013 18135 18464 18663 18993 19191 19521 19720 18918.52
28-Feb-2013 18814 18906 19029 19121 19244 19336 19460 18861.54
Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.