The Sensex surpassed 20,000 points intraday supported by positive global cues and the Congress party winning recent elections in Karnataka. The Sensex closed just short of 20,000, up 101 points on the day, as several companies reported quarterly earnings results, both positive and negative. Housing and banking stocks contributed most to gains, while telecom and metals declined.

1. Sensex kisses 20K after 3 months amid Karnataka poll outcome... ends a
tad short
Market Summary
08-May-2013
Tracking encouraging global cues Indian benchmarks maintained their winning streak and closed in green for third
straight session amid favorable outcome for Congress in Karnataka polls. Sensex surpassed 20K on intraday basis
before closing 10 points shy of the coveted mark.
Globally, U.S., Asian and European indices were all in green on positive economic data from U.S. and China.
Back home, the ruling BJP was routed by Congress which has won Karnataka elections after 7 years. Congress won
117 and leading in 3 constituencies whereas Bhartiya Janta Party (BJP) is competing with JD(S) for second place with
39 wins+1 lead.
Government has notified the decision of partial decontrol on Sugar via a gazette notification dated May 2. The Food
Ministry has withdrawn the control over sugar sale in the open market and PDS, through Essential Commodities Act
and Sugar Control Order. (What’s Hot)
Key Quarterly Results
Housing Development Finance Corporation Ltd (HDFC Ltd) surged 3.85% after making fresh 52 week high at Rs 895
on BSE on reporting 17% jump in Q4 Net at Rs 155.52 crore. (Featured Result)
Ranbaxy Laboratories plunged 2.78% on BSE on reporting 91.52% fall in Q1 Net profit at Rs 70.14 crore. (Result)
Corporation Bank’s reported 1.2% growth in Q4 Net profit at Rs 356 crore. The stock closed 6.80% up on BSE.
(Result)
UCO Bank dived 3.74% on BSE after registering 80% decline in Q4 Net at Rs 49.5 crore. (Result)
Lupin’s net profit grew 56.70% at Rs 1260.43 crore in fourth quarter. The stock closed 2.43% up after making fresh 52
week high at Rs 738.80 on BSE. (News)
State Bank of Bikaner and Jaipur (SBBJ) reported a dip of 28% in its Q4 Net Profit on y-o-y basis. The stock closed
0.43% up on BSE. (Result)
KEC International plunged 8.02% after posting Q4 loss at Rs 14crore.
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1018 and 991 respectively,
while 89 scrips remained unmoved.
The S&P BSE Sensex ended at 19990.18, up 101.23 points or 0.51%. The 30 share index touched a high and a low
of 20037.27 and 19851.22 respectively. 14 stocks advanced against 16 declining ones on the benchmark index.
The CNX Nifty gained 25.75 points or 0.43% to settle at 6069.30. The index touched high and low of 6083.55 and
6024.95 respectively. 22 stocks advanced against 28 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 6535.37 and gained 0.47% while S&P BSE Small-cap index jumped up by
0.47% to 6155.40.
The broader S&P BSE 500 index increased to 7558.77 (up 0.34%) and CNX 500 index rose to 4754.45 (up 0.36%).
The volatility as denoted by INDIA VIX gained 1.58% at 16.76 from its previous close of 16.50 on Tuesday.
Sectors in action
On the BSE Sectorial front, FMCG (up 1.43%), Banks (up 0.11%) and Oil & Gas (up 0.11%) were the top gainers.
Capital Goods (down 0.65%), Automobile (down 0.46%) and Metals (down 0.36%) were the top losers.

2. The Angels and the Devils
Housing Development Finance Corporation Ltd (up 3.85%), ITC Ltd (up 2.27%), HDFC Bank (up 1.38%), Hindustan
Unilever Ltd (up 1.23%) and Hindalco Industries Ltd (up 0.83%) were the top gainers on the Sensex.
Bharti Airtel Ltd (down 1.82%), Hero MotoCorp Ltd (down 1.78%), Tata Steel Ltd (down 1.45%), Mahindra and
Mahindra Ltd (down 1.35%) and Jindal Steel and Power Ltd (down 1.13%) were the top losers on the Sensex.
Benchmark Drivers
Housing Development Finance Corporation Ltd (57.23 points), ITC Ltd (49.88 points), HDFC Bank (21.41 points),
Larsen And Toubro Ltd (-10.08 points) and Bharti Airtel Ltd (-9.49 points) were the major Sensex drivers today.
On the other end Housing Development Finance Corporation Ltd (13.72 points), ITC Ltd (12.41 points), HDFC Bank
(5.20 points), Bharti Airtel Ltd (-2.79 points) and Larsen And Toubro Ltd (-2.58 points) were the major Nifty movers
today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6059 for next session. The next support is at 6035 and on upside it has a resistance at
6094 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
09-May-2013 5976 6001 6035 6059 6094 6118 6152 -
08-May-2013 5933 5958 6001 6026 6068 6093 6136 6069.30
07-May-2013 5893 5911 5941 5959 5989 6007 6037 6043.55
S&P BSE Sensex has a pivot at 19960 with first level of support and resistance at 19882 and 20068 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
09-May-2013 19696 19774 19882 19960 20068 20146 20254 -
08-May-2013 19531 19614 19752 19835 19972 20055 20193 19990.18
07-May-2013 19447 19501 19587 19641 19727 19781 19867 19888.95
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