1. Markets end flat ahead of CPI, IIP data; Reliance suffers Kejriwal blow
Market Snapshot | 11-02-2014 04:21 PM
After yesterday’s range bound trades, Indian indices made a firm start propped up by optimistic global cues. Markets
managed to keep their heads above water ahead of new Fed Chairwoman’s testimony. However, subsequently
benchmarks pared a part of their gains on profit booking despite narrowed trade deficit data for January. Both
barometer gauges settled marginally in green ahead of CPI and IIP data release on Wednesday with Nifty at 6063.
Among BSE sectorials, IT index was the top gainer.
On global front, US indices shined ahead of Janet Yellen’s first testimony after she sworn in as central-bank chief on
February 3. Additionally, Asian and European markets too traded in positive terrain.
Back home, on macro-economic front, India's trade deficit in January 2014 narrowed to $9.92 billion as compared to
$10.14 billion in December 2013. The main reason behind the plunge is a sharp 77% fall in Gold and Silver imports
that pulled overall merchandise imports to $36.57 billion, a y-o-y drop of 18.07%. Additionally the overall merchandise
exports grew 3.79% to $26.75 billion on y-o-y basis as against 3.5% annual growth in December. India pegged the
current account deficit (CAD) to be under $50 billion in the current fiscal year. Citing the fall in January trade deficit,
new commerce secretary Rajeev Kher said that CAD target for the full year is tough but achievable.
On currency front, resuming the gains of a day before yesterday, Rupee traded modest against Dollar. In future trades,
INR touched intra-day high of 62.36/USD and intra-day low of 62.65/USD. In spot trades, INR made an intra-day high
of 62.23/USD and an intra-day low of 62.45/USD. As per RBI reference rate, INR stood at 62.43/USD. (Read More)
On stock specific front, country’s private sector giant, Reliance industries plunged 2% to hit 5-month low levels on NSE
after Delhi Chief Minister Arvind Kejriwal’s allegations that the company is charging double for gas from the KG-D6 gas
block. Kejriwal stated that the cases will be filed against Mukesh Ambani, Reliance Industries Ltd, Union Oil Minister
Veerappa Moily, former Minister Murli Deora, former DG of Hydrocarbons V K Sibal and other policy-makers for
colluding to inflate the prices of gas.
PSU bellwethers, Oil and Natural gas Corporation (ONGC) (1.4% up) and Oil India (0.7% up) proposed to purchase
5% stake in Indian Oil Corporation (3.75% up) from the Government at the average traded price of six months instead
of current market price. Empowered Group of Ministers (EGoM) will meet soon to consider the said proposal.
Manappuram Finance rallied 12% on BSE after credit rating firm CRISIL revised the company’s long-term debt
instruments and bank facilities to “Stable” from “Negative”.
Bharat Forge soared 6% to touch 52 week high at Rs 370 on NSE as the company announced merger of two
subsidiary companies i.e. Kalyani ALSTOM Power Limited and ALSTOM Power Holdings yesterday after market
hours.
State owned, Indian Overseas Bank is planning to raise Rs 400 crore by selling shares to Life Insurance Corporation
(LIC) on preferential basis. For getting shareholder’s approval, the bank is holding an extraordinary general meeting on
February 26, 2014. IOB ended 0.88% down on BSE. (Read More)
Tech Mahindra gained 1.75% on BSE on entering into partnership with AIMS Software. (Read More)
Key Quarterly Results
Dr. Reddy’s Laboratories registered a spike of 80% in Q3 Net at Rs 623.17 crore as compared to Rs 346.64 crore in
the corresponding quarter of the previous year. The stock ended marginally down on BSE. (Featured Result)
Automobile bellwether, Tata Motors climbed 2.8% on BSE after recording a steep hike of 373% in Q3FY14 Net at Rs
1251.4 crore as compared to a net loss of Rs 458.5 crore in the same quarter of the previous year. On consolidated
basis, the Group’s net rose close to three folds at Rs 4804.8 crore as compared to Rs 1627.50 crore for Q3FY13.
Company's British arm JLR boosted company's earnings with a jump to 619 million pounds in Q3 Net as against an
expectation of 433 million pounds. (Result)
National Mineral Development Corporation (NMDC) ended marginally in green after posting a rise of 21% in Q3 Net
at Rs 1567.3 crore as against Rs 1292.8 crore in same quarter of the previous year. (Result)
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1319 and 1404
respectively, while 151 scrips remained unmoved.
The S&P BSE Sensex ended at 20363.37, up 29.10 points or 0.14%. The 30 share index touched a high and a low of
20443.35 and 20349.51 respectively. 15 stocks advanced against 15 declining ones on the benchmark index.
The CNX Nifty gained 9.25 points or 0.15% to settle at 6062.70. The index touched high and low of 6081.85 and
6053.25 respectively. 25 stocks advanced against 23 declining ones on the index.

2. S&P BSE Sensex
CNX Nifty
The S&P BSE Mid-cap index moved up to 6357.57 and gained 0.28% while S&P BSE Small-cap index jumped up by
0.10% to 6346.53.
The broader S&P BSE 500 index increased to 7486.04 (up 0.17%) and CNX 500 index rose to 4699.60 (up 0.15%).
The volatility as denoted by INDIA VIX lost 2.20% at 18.63 from its previous close of 19.05 on Monday.
Sectors in action
On the BSE Sectorial front, Information Technology (up 0.99%), Automobile (up 0.77%) and Consumer Durables (up
0.58%) were the top gainers.
Power (down 1.02%), Real Estate (down 0.90%) and Oil & Gas (down 0.58%) were the top losers.
The Angels and the Devils
Tata Motors Ltd (up 2.83%), Tata Steel Ltd (up 2.00%), Oil and Natural Gas Corporation Ltd (up 1.40%), Housing
Development Finance Corporation Ltd (up 1.17%) and ICICI Bank (up 1.00%) were the top gainers on the Sensex.
NTPC Ltd (down 2.21%), Hindalco Industries Ltd (down 2.01%), Reliance Industries Ltd (down 1.96%), Hero
MotoCorp Ltd (down 1.83%) and Maruti Suzuki India Ltd (down 0.82%) were the top losers on the Sensex.
Benchmark Drivers
Reliance Industries Ltd (-33.19 points), Tata Motors Ltd (21.25 points), Housing Development Finance Corporation Ltd
(15.46 points), Infosys Ltd (15.46 points) and ICICI Bank (12.79 points) were the major Sensex drivers today.
On the other end Reliance Industries Ltd (-8.61 points), Tata Motors Ltd (5.39 points), HCL Technologies Ltd (4.62
points), Housing Development Finance Corporation Ltd (4.04 points) and Infosys Ltd (3.18 points) were the major Nifty
movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6066 for next session. The next support is at 6050 and on upside it has a resistance at
6079 levels.
CNX Nifty
Eff. Date
12-Feb-2014
11-Feb-2014
10-Feb-2014
S3
6021
6002
5987
S2
6037
6024
6009
S1
6050
6039
6036
PIVOT
6066
6061
6058
R1
6079
6076
6085
R2
6095
6098
6107
R3
6107
6112
6134
Actual Close
6062.70
6053.45
S&P BSE Sensex has a pivot at 20385 with first level of support and resistance at 20327 and 20421 respectively.
S&P BSE Sensex
Eff. Date
12-Feb-2014
11-Feb-2014
10-Feb-2014
S3
20234
20164
20121
S2
20292
20238
20202
S1
20327
20286
20289
PIVOT
20385
20360
20370
R1
20421
20408
20457
R2
20479
20483
20538
R3
20515
20531
20625
Actual Close
20363.37
20334.27

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