1. Sensex scores triple nelson defying Services dip; Rajan replaces Subba as
RBI topshot
Market Summary
04-Sep-2013
After yesterday’s carnage, Indian indices started on a cautious note amidst soft global cues. Choppy markets edged
higher after RBI sold dollars to support domestic currency. Despite disappointing August Services PMI, Sensex shot
over 300 points up. Nifty also scored a ton to end near 5450. Traders considered the Tuesday’s correction as
overreaction to Syria war and rating downgrade fears and resorted to value buying at lower levels.
On global front, US indices mostly traded on a positive note, on upbeat economic data. On the flip side, Asian and
European markets dived in red on Syria worries.
Back home, following a disappointing PMI numbers for India's manufacturing sector, HSBC PMI data for services
sector also disappointed the market participants by contracting to the lowest level since 2009. The services PMI
shrank to 47.6 points in August from 47.9 points in July. Earlier, in July, HSBC services Purchasing Managers' Index
for Services contracted for the first time in 20 months.
RBI got its 23rd Governor today. Raghuram Rajan took over as RBI Governor succeeding D Subbarao. He has a tough
task in hand to use monetary powers to contain the inflation as well as rupee depreciation amid rising Current Account
Deficit (CAD) and fiscal deficit. Earlier, Rajan was the chief economist at the International Monetary Fund (IMF).
On stock specific front, Tata Motors jumped 4.71% on BSE as the company decided to go ahead with its planned
investment of Rs 3,000 crore in the current financial year. (Read More)
Country’s low cost carrier, SpiceJet surged 4.49% on BSE as the company has increased both spot and advance
purchase fares by over 25%, from September 3, 2013. (Read More)
Pharmaceutical major, IPCA Laboratories soared 8.24% on BSE on receiving US Food and Drug Administration
(USFDA) approval for its oral solid dosage formulations manufacturing facility. (Read More)
United Spirits gained 3.18% on BSE after Morgan Stanley acquires additional stake of 0.24% or 350,000 shares in the
company. (Read More)
Redington India shined 3.57% on BSE as overseas arm acquires 47.78% stake in ADEO. (Read More)
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1395 and 956 respectively,
while 157 scrips remained unmoved.
The S&P BSE Sensex ended at 18567.55, up 332.89 points or 1.83%. The 30 share index touched a high and a low
of 18612.60 and 18188.43 respectively. 29 stocks advanced against 1 declining ones on the benchmark index.
The CNX Nifty gained 106.65 points or 2.00% to settle at 5448.10. The index touched high and low of 5460.25 and
5318.90 respectively. 48 stocks advanced against 2 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 5329.90 and gained 1.02% while S&P BSE Small-cap index jumped up by
0.71% to 5230.96.
The broader S&P BSE 500 index increased to 6666.98 (up 1.68%) and CNX 500 index rose to 4164.50 (up 1.75%).
The volatility as denoted by INDIA VIX lost 4.25% at 31.11 from its previous close of 32.49 on Tuesday.
Sectors in action
On the BSE Sectorial front, Metals (up 2.75%), Healthcare (up 2.60%) and Automobile (up 2.47%) were the top
gainers.
Real Estate (down 0.41%) was the only loser.

2. The Angels and the Devils
Bharat Heavy Electricals Ltd (up 6.20%), Tata Motors Ltd (up 4.71%), Bharti Airtel Ltd (up 4.37%), ICICI Bank (up
4.34%) and Hindalco Industries Ltd (up 3.97%) were the top gainers on the Sensex.
ITC Ltd (down 0.81%) was the sole loser in the Sensex pack.
Benchmark Drivers
ICICI Bank (46.76 points), Tata Consultancy Services Ltd (45.49 points), Infosys Ltd (41.85 points), Reliance Industries
Ltd (40.69 points) and Tata Motors Ltd (29.64 points) were the major Sensex drivers today.
On the other end Tata Consultancy Services Ltd (11.98 points), ICICI Bank (11.84 points), Infosys Ltd (11.57 points),
Reliance Industries Ltd (9.78 points) and Tata Motors Ltd (7.66 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5409 for next session. The next support is at 5358 and on upside it has a resistance at
5499 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
05-Sep-2013 5217 5268 5358 5409 5499 5550 5641 -
04-Sep-2013 4993 5158 5250 5415 5507 5673 5764 5448.10
03-Sep-2013 5412 5445 5498 5532 5584 5618 5670 5341.45
S&P BSE Sensex has a pivot at 18456 with first level of support and resistance at 18300 and 18724 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
05-Sep-2013 17876 18032 18300 18456 18724 18880 19148 -
04-Sep-2013 17090 17628 17931 18469 18773 19311 19614 18567.55
03-Sep-2013 18466 18573 18729 18836 18992 19099 19256 18234.66
Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.