Markets end higher despite Cobrapost allegations, disappointing Services data and political concerns

1. Markets end higher despite Cobrapost allegations, disappointing Services
data and political concerns
Market Summary
06-May-2013
Amid volatile trade, Indian markets ended the day with half a percentage gain shrugging off weak services PMI data,
Cobrapost sting and political fallouts of CBI revelations on ‘Coalgate’ & Railway bribery allegations. Positive U.S. jobs
data seemed to have lifted the Asian sentiments including India. Metals led the charts among sectorial indices.
Banking sector stocks ended in red on Cobrapost sting which alleged 23 public and private sector banks for involving
in money laundering practices. The names included State Bank of India, Bank of Baroda, Punjab National Bank,
Canara Bank, Federal Bank, Development Credit Bank, Indian Overseas Bank, Yes Bank and Corporation Bank in
addition to private sector giants ICICI Bank, HDFC Bank and Axis Bank. S&P Bankex ended flat. (What’s Hot)
HSBC services Purchasing Managers’ Index (PMI) for India fell to 50.7 in April 2013 as compared to 51.4 in the
previous month. This is the third consecutive fall for the sector after having touched its 18-month high in January. It still
holds 50 that separates expansion with contraction. (News)
Reliance Communications jumped 2.36% and made new 52 week high at Rs 113.30 on BSE after hiking tariffs by
20%. (News)
SpiceJet spurted 1.98% % on BSE after wife of Mr. Jhunjhunwala purchased 25 lac shares of the company.
Key Quarterly Results
Net Profit of ACC Ltd zoomed 182% in Q1 to Rs 43.77 crore. The stock closed 1.57% down on BSE. (Featured Result)
South Indian Bank gained 1.04 % on BSE after its Q4 Net grew 26% to Rs 15.38 crore. (Result)
Finolex Industries made fresh 52 week high at Rs 119.30 and closed 19.96 % up on BSE after its Q4 Net jumped 41%
to Rs 7.93 crore. (Result)
Punjab & Sindh Bank reported 16% decline in Q4 Net at Rs 12.44 crore. The sock closed 0.49% down on BSE.
(Result)
Jaiprakash Associates registered 56% decline in Q4 Net at Rs 12.35 crore. The sock closed 0.53% up on BSE.
(Result)
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1383 and 1032 respectively,
while 143 scrips remained unmoved.
The S&P BSE Sensex ended at 19673.64, up 98.00 points or 0.50%. The 30 share index touched a high and a low of
19694.29 and 19554.31 respectively. 21 stocks advanced against 9 declining ones on the benchmark index.
The CNX Nifty gained 27.05 points or 0.46% to settle at 5971.05. The index touched high and low of 5976.50 and
5928.45 respectively. 32 stocks advanced against 18 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 6450.71 and gained 1.17% while S&P BSE Small-cap index jumped up by
0.96% to 6090.16.
The broader S&P BSE 500 index increased to 7456.13 (up 0.57%) and CNX 500 index rose to 4685.60 (up 0.57%).
The volatility as denoted by INDIA VIX gained 1.86% at 15.84 from its previous close of 15.55 on Friday.
Sectors in action
On the BSE Sectorial front, Metals (up 1.98%), Information Technology (up 1.88%) and Consumer Durables (up
1.51%) were the top gainers.
FMCG (down 0.77%), Capital Goods (down 0.09%) and Banks (down 0.01%) were the top losers.

2. The Angels and the Devils
Tata Steel Ltd (up 3.58%), Hindalco Industries Ltd (up 3.52%), Tata Consultancy Services Ltd (up 3.25%), Reliance
Industries Ltd (up 2.53%) and Hero MotoCorp Ltd (up 2.32%) were the top gainers on the Sensex.
Oil and Natural Gas Corporation Ltd (down 1.67%), NTPC Ltd (down 1.48%), ITC Ltd (down 1.35%), HDFC Bank
(down 0.91%) and Coal India Ltd (down 0.79%) were the top losers on the Sensex.
Benchmark Drivers
Reliance Industries Ltd (42.99 points), Tata Consultancy Services Ltd (32.21 points), ITC Ltd (-29.20 points), ICICI
Bank (19.83 points) and Infosys Ltd (19.52 points) were the major Sensex drivers today.
On the other end Reliance Industries Ltd (11.26 points), Tata Consultancy Services Ltd (8.58 points), ITC Ltd (-7.44
points), Infosys Ltd (4.85 points) and ICICI Bank (4.39 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5959 for next session. The next support is at 5941 and on upside it has a resistance at
5989 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
07-May-2013 5893 5911 5941 5959 5989 6007 6037 -
06-May-2013 5846 5888 5916 5958 5986 6028 6056 5971.05
03-May-2013 5825 5868 5934 5977 6042 6085 6151 5944.00
S&P BSE Sensex has a pivot at 19641 with first level of support and resistance at 19587 and 19727 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
07-May-2013 19447 19501 19587 19641 19727 19781 19867 -
06-May-2013 19295 19419 19497 19621 19699 19823 19902 19673.64
03-May-2013 19187 19319 19527 19660 19868 20000 20209 19575.64
Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.