Benchmarks extend losing streak; PSU stocks tumble

1. Benchmarks extend losing streak; PSU stocks tumble
Market Summary
04-Feb-2013
Tracking supportive global cues, markets opened marginally up with Nifty above 6000 levels and continued to trade in
positive territory till afternoon. In the late afternoon session, dragged by PSU stocks, Indian equity benchmarks shed
gains and turned in negative territory. Bank of Baroda and IDFC were the top two losers on Nifty on disappointing Q3
numbers. Sensex lost 30 points to close the day at 19751.
CNX PSU bank (down 3.22%) and BSE PSU (down 1.56%) were the top losing Indices on NSE and BSE respectively.
Government of India has accorded ‘Maharatna’ status to two leading Indian public sector undertakings (PSU), GAIL
(India) and Bharat Heavy Electricals Limited (BHEL). GAIL is the youngest entrant in this exclusive club that includes
Coal India, ONGC, NTPC, SAIL and IOC as members. The Maharatna’s have greater freedom in terms of investing
decisions and need not to get govt clearance for decisions of up to Rs 5,000 crore. The news could not turn the
sentiments positive for the stocks as GAIL and BHEL closed 1.09% and 2.73% down on BSE respectively.
Key Quarterly Results:
Bank of Baroda’s Q3 Net dipped 22% YoY to Rs 1011.62 crore. The stock closed 7.50% down on BSE. (Result)
Indian Bank’s Net Profit declined by 37% in Q3 to Rs 330.58 crore. The stock closed 2.93% down on BSE. (Result).
Net Profit of Multi Commodity Exchange of India (MCX) stood at Rs 75.87 crore in Q3. The stock closed 2.95% down
on BSE. (Result).
Jubilant Foodworks Ltd reported 28% jump in its third quarter Net Profit at Rs 37.70 crore. The stock closed 5.23%
down on BSE. (Result)
Berger Paints registered 50% rise in Q3 Net at Rs 65.4 crore. The stock has touched fresh 52 week high today at Rs
189.15 and closed 2.53% up on BSE. (Result)
Rural Electrification Corporation Ltd reported 33% jump in Q3 Net Profit at Rs 1026.65 crore. The stock closed 4.69%
up on BSE. (Result)
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1240 and 1712
respectively, while 124 scrips remained unmoved.
The BSE Sensex ended at 19751.19, down 30.00 points or 0.15%. The 30 share index touched a high and a low of
19902.60 and 19728.21 respectively. 10 stocks advanced against 20 declining ones on the benchmark index.
The S&P CNX Nifty lost 11.65 points or 0.19% to settle at 5987.25. The index touched high and low of 6038.50 and
5981.25 respectively. 16 stocks advanced against 33 declining ones on the index.
Sensex Nifty
The BSE Mid-cap index moved down to 6909.58 and lost 0.83% while Small-cap index hammered down by 0.71% to
7006.73.
The broader BSE 500 index decreased to 7600.96 (down 0.47%) and S&P CNX 500 index declined to 4759.25 (down
0.35%).
The volatility as denoted by INDIA VIX gained 4.22% at 14.34 from its previous close of 13.76 on Friday.
Sectors in action
On the BSE Sectorial front, Automobile (up 0.47%) was the top gainer.
Healthcare (down 1.40%), Power (down 1.36%) and Oil & Gas (down 1.12%) were the top losers.
The Angels and the Devils
Housing Development Finance Corporation Ltd (up 2.49%), Tata Motors Ltd (up 2.40%), ICICI Bank (up 0.94%), Jindal

2. Housing Development Finance Corporation Ltd (up 2.49%), Tata Motors Ltd (up 2.40%), ICICI Bank (up 0.94%), Jindal
Steel and Power Ltd (up 0.61%) and Tata Consultancy Services Ltd (up 0.46%) were the top gainers on the Sensex.
Bharat Heavy Electricals Ltd (down 2.73%), Cipla Ltd (down 2.64%), State Bank of India (down 2.41%), Tata Power
Company Ltd (down 2.29%) and Oil and Natural Gas Corporation Ltd (down 2.08%) were the top losers on the
Sensex.
Benchmark Drivers
Housing Development Finance Corporation Ltd (33.71 points), State Bank of India (-20.86 points), ICICI Bank (15.17
points), Reliance Industries Ltd (-15.04 points) and ITC Ltd (-14.77 points) were the major Sensex drivers today.
On the other end Housing Development Finance Corporation Ltd (9.07 points), Tata Motors Ltd (5.60 points), State
Bank of India (-5.38 points), Reliance Industries Ltd (-4.46 points) and HDFC Bank (3.89 points) were the major Nifty
movers today.
Pivot, Supports and Resistance Levels
S&P CNX Nifty is now pivoted at 6002 for next session. The next support is at 5966 and on upside it has a resistance
at 6023 levels.
S&P CNX Nifty
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
05-Feb-2013 5909 5945 5966 6002 6023 6060 6081 -
04-Feb-2013 5901 5942 5970 6012 6040 6081 6110 5987.25
01-Feb-2013 5988 6006 6021 6039 6053 6072 6086 5998.90
Sensex has a pivot at 19794 with first level of support and resistance at 19685 and 19860 respectively.
Sensex
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
05-Feb-2013 19511 19620 19685 19794 19860 19968 20034 -
04-Feb-2013 19459 19598 19690 19828 19920 20058 20150 19751.19
01-Feb-2013 19694 19780 19838 19923 19981 20066 20124 19781.19
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