1. D-street under carnage on global cues; Nifty plunges back to 6K levels
Market Snapshot | 03-02-2014 04:21 PM
Indian indices made a gap down start amidst colossal losses in global markets. Sentiments remained dampened as
investors were disappointed on fiscal deficit touching 95.2% of the budgeted target in the first three quarters of the
current Fiscal Year. Benchmarks remained in negative terrain and ignored the robust growth in HSBC manufacturing
PMI. Both frontline gauges nosedived in red to end 1.45% down with Sensex tanking 305 points and Nifty tanking at
6002. Among BSE sectorials, Metal index was the top laggard.
On global front, US markets plunged on mixed economic numbers and negative investor sentiments on Fed stimulus
cut move. Additionally, Asian and European markets were also trading in deep red amidst heavy selling pressure in
Japanese markets due to strengthened Yen and plunge in Chinese factory growth.
Back home, adding to the worries of slowing economy, Fiscal deficit data released on Friday after market hours
disheartened investors’ sentiments. The fiscal deficit in the first three quarters of the FY14 touched 95.2% at Rs 5.16
lakh crore of the budgeted target for the whole year as compared to 78.8% for the last year. Citing the current
situation, it seems tough for the economy to achieve the fiscal deficit target of 4.8% of GDP. (Read More)
Moving further on macro front, the digits of country’s manufacturing growth for first month of CY14 brought some relief.
The HSBC India Manufacturing Purchasing Managers' Index (PMI) grew to 51.4 in January from 50.7 in December,
touching the highest level since March 2013. This was the third consecutive monthly expansion in the manufacturing
sector activity. HSBC Chief Economist for India & ASEAN Leif Eskesen said “Manufacturing activity moved into higher
gear led my faster growth in new orders."
Giving some respite to common man, Oil minister Veerappa Moily announced that the prices of Compressed Natural
Gas (CNG) will be cut by Rs 15/kg and Piped Natural Gas (PNG) by about Rs 5 per cubic meters in Delhi. The city gas
distribution firms will get cheaper domestic gas and the firms will also get entire requirement of gas from domestic fields
as against previous 80%. Earlier, the price of CNG was hiked by a steep Rs 4.50 per kg on December 26. Gas
Distribution companies - Indraprastha Gas Ltd, Petronet LNG, GAIL India and Gujarat State Petronet Ltd (GSPL)
rallied 1%, 4.2%, 1.65% and 4.8% respectively on BSE buoyed by the price cut announcement. (What’s Hot)
Telecom stocks - Bharti Airtel and Idea Cellular tumbled 3% and 2.15% on BSE as the Supreme Court rejected an
appeal by the companies for a stay on the spectrum auction. This will lead the spectrum holding companies to bid
aggressively for regaining their bandwidth holdings.
Aban Offshore rallied 6.5% to hit 52 week high at Rs 506 after global agency Merrill Lynch Capital bought 2.96 lakh
shares of the company at Rs 414 per share constituting 0.7% stake via open market transaction on January 31, 2014.
(Read More)
Key Quarterly Results
IDFC plunged 2.6% on BSE despite posting a slim rise of 1.4% in Q3FY14 Net at Rs 475.4 crore as against Rs 468.6
crore in the same quarter previous year. On consolidated basis, the group’s Net soared 10% to Rs 500.7 crore as
against Rs 455 crore in Q3FY13. (Featured Result)
Lupin Ltd rallied 4.5% on BSE after registering 42% growth in Q3 consolidated Net at Rs 476 crore as against Rs 335
crore in the corresponding quarter of the previous year. On standalone basis, the company’s Net rose 18.97 at Rs
533.38 crore for the quarter as compared to Rs 448.30 crore for the same quarter in the previous year. (Result)
Berger Paints India shined 1.3% on BSE as consolidated Net rose 7% in Q3FY14 at Rs 82.3 crore as compared to Rs
76.84 crore for the same quarter in the previous year. (Read More)
IDBI Bank slipped 1.7% on BSE on posting steep fall of 75% in Q3FY14 Net at Rs 104 crore as against Rs 417 crore
in the same quarter of the previous fiscal. Additionally, bank’s Net NPA rose to 2.93% as compared to 1.93% in
Q3FY13. (Result)
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1147 and 1465
respectively, while 157 scrips remained unmoved.
The S&P BSE Sensex ended at 20209.26, down 304.59 points or 1.48%. The 30 share index touched a high and a
low of 20480.35 and 20182.20 respectively. 5 stocks advanced against 25 declining ones on the benchmark index.
The CNX Nifty lost 87.70 points or 1.44% to settle at 6001.80. The index touched high and low of 6074.85 and
5994.45 respectively. 7 stocks advanced against 43 declining ones on the index.

2. S&P BSE Sensex
CNX Nifty
The S&P BSE Mid-cap index moved down to 6257.47 and lost 0.80% while S&P BSE Small-cap index hammered
down by 0.47% to 6233.74.
The broader S&P BSE 500 index decreased to 7405.62 (down 1.25%) and CNX 500 index declined to 4648.55 (down
1.29%).
The volatility as denoted by INDIA VIX gained 8.62% at 18.27 from its previous close of 16.82 on Friday.
Sectors in action
On the BSE Sectorial front, Healthcare (up 1.10%) was the top gainer.
Metals (down 3.06%), Real Estate (down 2.09%) and Automobile (down 1.88%) were the top losers.
The Angels and the Devils
GAIL (India) Ltd (up 1.64%), Dr. Reddys Laboratories Ltd (up 1.27%), Sun Pharmaceutical Industries Ltd (up 1.20%),
Cipla Ltd (up 0.57%) and Axis Bank (up 0.31%) were the top gainers on the Sensex.
Hindalco Industries Ltd (down 5.61%), Tata Steel Ltd (down 3.93%), Tata Motors Ltd (down 3.79%), Bajaj Auto Ltd
(down 3.52%) and Bharat Heavy Electricals Ltd (down 3.10%) were the top losers on the Sensex.
Benchmark Drivers
Infosys Ltd (-40.06 points), Housing Development Finance Corporation Ltd (-34.88 points), ICICI Bank (-33.62 points),
Tata Motors Ltd (-27.34 points) and Tata Consultancy Services Ltd (-26.96 points) were the major Sensex drivers
today.
On the other end Infosys Ltd (-10.18 points), Housing Development Finance Corporation Ltd (-8.42 points), ICICI Bank
(-8.10 points), Tata Consultancy Services Ltd (-7.94 points) and ITC Ltd (-7.73 points) were the major Nifty movers
today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6024 for next session. The next support is at 5973 and on upside it has a resistance at
6053 levels.
CNX Nifty
Eff. Date
04-Feb-2014
03-Feb-2014
31-Jan-2014
S3
5892
6041
5984
S2
5943
6054
6006
S1
5973
6072
6040
PIVOT
6024
6085
6061
R1
6053
6102
6095
R2
6104
6115
6117
R3
6133
6133
6151
Actual Close
6001.80
6089.50
S&P BSE Sensex has a pivot at 20291 with first level of support and resistance at 20101 and 20399 respectively.
S&P BSE Sensex
Eff. Date
04-Feb-2014
03-Feb-2014
31-Jan-2014
S3
19803
20327
20201
Follow us on
S2
19992
20388
20272
S1
20101
20451
20385
PIVOT
20291
20512
20457
R1
20399
20575
20570
R2
20589
20635
20641
R3
20697
20699
20754
Actual Close
20209.26
20513.85
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