Benchmarks slip 0.3% despite Govt FDI moves

1. Benchmarks slip 0.3% despite Govt FDI moves
Market Snapshot | 07-08-2014 04:20 PM
Following yesterday’s losses, Indian indices made a negative start amidst cautiousness on geopolitical concerns. Bulls
made efforts to pull markets in green zone but failed to do so as pessimism in Asian and European peers weighed.
Both barometer gauges settled 0.3% down with Nifty at 7649. On BSE sectorial front, Teck topped the losers.
On global front, US markets settled marginally in green zone as US trade deficit shrank 7% to $41.5 billion in June.
On the flip side, Asian and European markets traded with pessimism on persisting geopolitical risks and downbeat
European economic news.
Back on domestic turf, Rupee accelerated against Dollar after its biggest single day fall in over 6 months as
investors cheered the Cabinet’s measures to bring foreign money to Railway and Defense sectors.
Coming on to the major movements in stocks, Bharti Infratel crashed 6.6% on BSE after its Board set a discounted
floor price for Offer for Sale (OFS) at Rs 250 per share.
On macro-economic front, Modi Government made another move to boost foreign investment in the country. Cabinet
has nodded to raise the cap for Foreign Direct Investment in Defense and Railway Infrastructure. After waiting for a
long time, Railway infrastructure got 100% FDI limit to accelerate modernization of the transport system. Additionally,
the upper cap of FDI in defense sector is hiked to 49% from 26% with a view to expand the domestic industrial base in
the sector.
Key Quarterly Results
Jindal Steel and Power jumped 3% on BSE after its Q1 Net spurted 28.2% to Rs 306.2 crore as against Rs 238.8
crore in the corresponding period of previous fiscal.
Adani Power posted Q1FY15 Net loss of Rs 179.72 crore as compared to a Net loss of Rs 918.71 crore for the same
quarter in the previous year. On consolidated basis, company’s Net loss stood at Rs 303.29 crore for the quarter as
compared to a Net loss of Rs 1198.29 crore for Q1FY14. The stock slipped 2% on BSE.
GlaxoSmithkline Consumer Healthcare settled marginally up on BSE after its June quarter Net jumped 8.47% at Rs
130.12 crore as compared to Rs 119.96 crore for the same period a year ago.
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1391 and 1678
respectively, while 142 scrips remained unmoved.
The S&P BSE Sensex ended at 25589.01, down 76.26 points or 0.30%. The 30 share index touched a high and a
low of 25778.05 and 25526.05 respectively. 14 stocks advanced against 16 declining ones on the benchmark index.
The CNX Nifty lost 22.80 points or 0.30% to settle at 7649.25. The index touched high and low of 7708.95 and
7630.40 respectively. 25 stocks advanced against 25 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 9150.74 and lost 0.55% while S&P BSE Small-cap index hammered
down by 0.53% to 10043.21.
The broader S&P BSE 500 index decreased to 9769.45 (down 0.30%) and CNX 500 index declined to 6153.50 (down
0.33%).
The volatility as denoted by INDIA VIX lost 1.12% at 14.14 from its previous close of 14.30 on Wednesday.
Sectors in action
On the BSE Sectorial front, Consumer Durables (up 0.75%) and Oil & Gas (up 0.46%) were the top gainers.
Information Technology (down 1.27%), Real Estate (down 0.34%) and Power (down 0.31%) were the top losers.
The Angels and the Devils
Tata Steel Ltd (up 0.96%), Oil and Natural Gas Corporation Ltd (up 0.88%), Mahindra and Mahindra Ltd (up 0.81%),

2. Tata Steel Ltd (up 0.96%), Oil and Natural Gas Corporation Ltd (up 0.88%), Mahindra and Mahindra Ltd (up 0.81%),
Coal India Ltd (up 0.71%) and State Bank of India (up 0.43%) were the top gainers on the Sensex.
Infosys Ltd (down 1.68%), Tata Consultancy Services Ltd (down 1.56%), Hindalco Industries Ltd (down 1.25%), Sesa
Sterlite Ltd (down 1.18%) and Tata Motors Ltd (down 1.16%) were the top losers on the Sensex.
Benchmark Drivers
Infosys Ltd (-33.76 points), Tata Consultancy Services Ltd (-26.49 points), Housing Development Finance Corporation
Ltd (-11.73 points), Tata Motors Ltd (-10.64 points) and Oil and Natural Gas Corporation Ltd (6.89 points) were the
major Sensex drivers today.
On the other end Infosys Ltd (-9.70 points), Tata Consultancy Services Ltd (-6.28 points), Housing Development
Finance Corporation Ltd (-3.67 points), Tata Motors Ltd (-2.86 points) and HCL Technologies Ltd (-2.39 points) were
the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7663 for next session. The next support is at 7617 and on upside it has a resistance at
7695 levels.
CNX NiftyCNX Nifty
Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close
08-Aug-2014 7538 7584 7617 7663 7695 7741 7774 -
07-Aug-2014 7558 7609 7640 7691 7722 7773 7804 7649.25
06-Aug-2014 7558 7598 7672 7712 7787 7827 7901 7672.05
S&P BSE Sensex has a pivot at 25631 with first level of support and resistance at 25484 and 25736 respectively.
S&P BSE SensexS&P BSE Sensex
Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close
08-Aug-2014 25232 25379 25484 25631 25736 25883 25988 -
07-Aug-2014 25278 25450 25558 25730 25837 26009 26117 25589.01
06-Aug-2014 25305 25434 25671 25800 26037 26166 26403 25665.27
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