The markets ended lower due to weak global cues and a warning from S&P about the possibility of a credit rating downgrade for India. The Sensex closed down 0.86% and the Nifty fell 0.92% led by losses in real estate, power and banking stocks. Accusations of corrupt practices against DLF and Indiabulls by activist Arvind Kejriwal also weighed on realty stocks. Automobile sales data showed a decline in September due to higher fuel prices.

1. Markets end in red on S&P scare; realty sector bears the brunt of IAC
allegations
Market Summary
10-Oct-2012
Markets dipped at open following the weak global cues. Nifty opened below 5700 milestone. During the mid afternoon
trade, markets slipped around 1% after global rating company Standard & Poor's (S&P) has warned that India still
faces a one-in-three chance of a credit rating downgrade within the next 24 months despite a new drive for economic
reform. Markets closed in red with about 0.9% losses.
State owned company BHEL fell around 2% as JP Morgan has put underweight rating on the stock.
Polaris Financial Technology dipped around 5.6% after SEBI barred CEO of the company from partcipating in the
securities markets for two years on account of insider trading.
Shares of DLF and Indiabulls group companies tanked on ongoing accusations by IAC activist turned politician Arvind
Kejriwal about corrupt practices followed by these realty giants. Kejriwal alleged that a nexus exists between these
companies and influential politicians & their relatives allowing them to gain undue favors. (What’s Hot!)
According to a data released by the Society of Indian Automobile Manufacturers (SIAM), the total domestic sale of
vehicles across categories registered a yoy dip of 9.43% in September 2012, out of which, domestic passenger car
sales witnessed a fall of 5.36% whereas two-wheeler sales decreased 12.92%. The degrowth is attributed to higher
petrol & diesel prices. (News)
The market breadth on the BSE closed in negative. Advancing and declining stocks were 961 and 1941 respectively,
while 138 scrips remained unmoved.
The BSE Sensex ended at 18631.10, down 162.26 points or 0.86%. The 30 share index touched a high and a low of
18740.63 and 18614.37 respectively. 3 stocks advanced against 27 declining ones on the benchmark index.
The S&P CNX Nifty lost 52.45 points or 0.92% to settle at 5652.15. The index touched high and low of 5686.50 and
5647.05 respectively. 7 stocks advanced against 43 declining ones on the index.
Sensex Nifty
The BSE Mid-cap index moved down to 6594.71 and lost 1.29% while Small-cap index hammered down by 1.53% to
7048.17.
The broader BSE 500 index decreased to 7168.19 (down 0.98%) and S&P CNX 500 index declined to 4477.30 (down
1.02%).
The volatility as denoted by INDIA VIX gained 0.18% at 16.83 from its previous close of 16.80 on Tuesday.
Sectors in action
On the BSE Sectorial front, FMCG (up 0.04%) was the top gainer.
Real Estate (down 4.61%), Power (down 2.17%) and Banks (down 1.31%) were the top losers.
The Angels and the Devils
ITC Limited (up 0.36%), Hero MotoCorp Ltd. (up 0.33%) and Reliance Industries Limited (up 0.09%) were the top
gainers on the Sensex.
State Bank of India (down 2.32%), Tata Power Company Limited (down 2.25%), Hindalco Industries Ltd. (down
2.11%), Bharat Heavy Electricals Limited (down 2.04%) and NTPC Limited (down 1.82%) were the top losers on the
Sensex.
Benchmark Drivers
State Bank of India (-19.05 points), Infosys Limited (-18.99 points), HDFC Bank (-16.86 points), ICICI Bank (-14.20
points) and Housing Development Finance Corporation Limited (-12.61 points) were the major Sensex drivers today.

2. On the other end State Bank of India (-5.52 points), Infosys Limited (-4.86 points), HDFC Bank (-4.57 points), ICICI
Bank (-3.56 points) and Housing Development Finance Corporation Limited (-3.06 points) were the major Nifty movers
today.
Pivot, Supports and Resistance Levels
S&P CNX Nifty is now pivoted at 5667 for next session. The next support is at 5637 and on upside it has a resistance
at 5677 levels.
S&P CNX Nifty
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
11-Oct-2012 5598 5622 5637 5667 5677 5701 5716 -
10-Oct-2012 5628 5653 5679 5704 5730 5754 5780 5652.15
09-Oct-2012 5559 5612 5644 5698 5730 5784 5815 5704.60
Sensex has a pivot at 18662 with first level of support and resistance at 18583 and 18710 respectively.
Sensex
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
11-Oct-2012 18457 18536 18583 18662 18710 18788 18835 -
10-Oct-2012 18551 18637 18715 18800 18879 18964 19043 18631.10
09-Oct-2012 18551 18669 18734 18851 18917 19034 19099 18793.36
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