1. Q3 CAD powers Sensex beyond 21500; Nifty reclaims 6400
Market Snapshot | 06-03-2014 04:22 PM
Following a marginally higher start, Indian indices continued the positive trades for third straight day amidst optimistic
global cues. Markets remained in bull grip throughout the day as investors cheered India’s current account deficit
(CAD) data for December quarter. Exuberant Sensex hit a life time high of 21525.14 before closing above 21500. Nifty
too shot up 1.15% to close above 6400. On BSE sectorial front, Realty continued to rock the show by soaring over 4%.
Among global peers, US markets traded on a mixed note amidst disappointing economic reports. However, Asian and
European markets traded jubilantly with Nikkei climbing 1.5% on a Pension Fund report.
Back home, on currency front, Rupee rose to near three months high against Dollar on narrowed CAD in December
quarter. In futures trades, INR hit an intra-day high of 61.35/USD and an intra-day low of 61.75/USD. In spot trades,
INR hit an intra-day high of 61.17/USD and an intra-day low of 61.43/USD. As per RBI reference rate, INR stood at
61.32/USD. (Read More)
On macro-economic front, in a big surprise for policy makers amidst election season, Indian current account deficit for
December quarter dropped to 4 years low level. CAD narrowed to $4.2 billion (0.9% of GDP) in Q3FY14 as compared
to $5.2 billion (1.2% of GDP) in Q2 FY14. The sharp fall was mainly driven by decline in imports (mainly gold) and
spike in merchandise exports. Exports grew by 7.5% to $79.8 billion in the quarter on y-o-y basis whereas
merchandise imports contracted by 14.8% to $112.9 billion year on year. (Read More)
On stock-specific front, Financial Technologies jumped 5% on BSE after global financial services firm, Merill Lynch
bought 2.35 lakh shares of the company through an open market transaction. (Read More)
Cera Sanitaryware surged 6% and touched fresh 52 week high at Rs 855 on BSE after its shareholders hiked their
stake in the company via creeping acquisition route.
IL&FS Transportation Network Ltd shined 6.3% on BSE after its board nodded to issue debentures worth of Rs 100
crore via private placements. (Read More)
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1775 and 1066 respectively,
while 164 scrips remained unmoved.
The S&P BSE Sensex ended at 21513.87, up 237.01 points or 1.11%. The 30 share index touched a high and a low
of 21525.14 and 21329.88 respectively. 24 stocks advanced against 6 declining ones on the benchmark index.
The CNX Nifty gained 72.50 points or 1.15% to settle at 6401.15. The index touched high and low of 6406.60 and
6339.70 respectively. 42 stocks advanced against 8 declining ones on the index.
S&P BSE Sensex
CNX Nifty
The S&P BSE Mid-cap index moved up to 6708.00 and gained 1.21% while S&P BSE Small-cap index jumped up by
1.22% to 6626.46.
The broader S&P BSE 500 index increased to 7886.02 (up 1.24%) and CNX 500 index rose to 4959.10 (up 1.19%).
The volatility as denoted by INDIA VIX gained 4.62% at 14.48 from its previous close of 13.84 on Wednesday.
Sectors in action
On the BSE Sectorial front, Real Estate (up 4.09%), Power (up 2.45%) and Metals (up 2.23%) were the top gainers.
Healthcare (down 0.27%) was the top loser.
The Angels and the Devils
Hindalco Industries Ltd (up 4.33%), Bharat Heavy Electricals Ltd (up 3.78%), ICICI Bank (up 3.33%), Oil and Natural
Gas Corporation Ltd (up 2.91%) and Tata Steel Ltd (up 2.38%) were the top gainers on the Sensex.
Cipla Ltd (down 1.38%), Wipro Ltd (down 0.86%), Tata Motors Ltd (down 0.45%), Tata Consultancy Services Ltd
(down 0.40%) and Hindustan Unilever Ltd (down 0.29%) were the top losers on the Sensex.

2. Benchmark Drivers
ICICI Bank (48.88 points), Reliance Industries Ltd (31.13 points), Larsen And Toubro Ltd (18.08 points), Housing
Development Finance Corporation Ltd (17.78 points) and Oil and Natural Gas Corporation Ltd (17.37 points) were the
major Sensex drivers today.
On the other end ICICI Bank (11.57 points), Reliance Industries Ltd (7.96 points), Larsen And Toubro Ltd (4.63 points),
Housing Development Finance Corporation Ltd (4.60 points) and Oil and Natural Gas Corporation Ltd (4.14 points)
were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6382 for next session. The next support is at 6358 and on upside it has a resistance at
6425 levels.
CNX Nifty
Eff. Date
07-Mar-2014
06-Mar-2014
05-Mar-2014
S3
6291
6250
6155
S2
6316
6269
6185
S1
6358
6299
6242
PIVOT
6382
6318
6272
R1
6425
6347
6328
R2
6449
6366
6358
R3
6492
6396
6415
Actual Close
6401.15
6328.65
S&P BSE Sensex has a pivot at 21456 with first level of support and resistance at 21387 and 21583 respectively.
S&P BSE Sensex
Eff. Date
07-Mar-2014
06-Mar-2014
05-Mar-2014
S3
21192
21034
20741
Follow us on
S2
21261
21105
20841
S1
21387
21191
21025
PIVOT
21456
21262
21125
R1
21583
21348
21309
R2
21652
21419
21409
R3
21778
21505
21594
Actual Close
21513.87
21276.86
This content is generated at www.finalaya.com and is governed by the Terms of Use.