- The Indian stock market crashed with the Sensex falling 1.5% and Nifty below 5800 due to a plummeting rupee that breached 59 against the USD at a lifetime low, and weak global cues. - The rupee has fallen over 10% in the past six weeks on worries about the scaling back of US stimulus packages. Banking stocks such as Axis Bank, HDFC Bank, and ICICI Bank fell after penalties for violating KYC rules. - Oil and gas companies ONGC and Oil India acquired a 10% stake in a Mozambique gas field but their stocks fell over 1% and 4% respectively.

1. Rupee sinking to 59/USD triggers market crash; Nifty below 5800
Market Summary
11-Jun-2013
Indian benchmarks were brutally hammered amid plummeting Rupee against Dollar and weak global cues. Both the
front-line gauges tumbled 1.5% at the close. Sensex shed around 300 points whereas Nifty tested 200 DMA and
ended below 5800. On sectorial front, Consumer Durables continued to be the laggard for second consecutive session
with a steep fall of 6.36%.
Globally, US markets ended flat, after Standard & Poor’s Ratings Services revised its credit-rating outlook to "stable"
from "negative". Asian and European indices were in red zone.
Back home, INR weakened further against USD breaching the 59 mark today to hit a lifetime low of 59.13/USD in June
futures. In spot trades, INR made a low of 58.98 against USD. Rupee sank over 2.5 per cent in last two trading days
and nearly 10 per cent in the past six weeks and is heading towards 60 mark on worries of scaling down of stimulus
packages by the US.
Banking regulator, Reserve Bank of India (RBI) has imposed penalties of Rs 5 crore, Rs 4.50 crore and Rs 1 crore on
Axis Bank (down 2.65%), HDFC Bank (down 1.73%) and ICICI Bank (down 3.75%) respectively for violating guidelines
related 'know your customer' (KYC) rules. (News)
Oil India (OIL) and Oil and Natural Gas Corporation’s (ONGC) overseas arm, ONGC Videsh (OVL) will acquire 10%
stake in Videocon Industries’ huge gas field in Mozambique for about $2.50 billion. Oil India and ONGC plunged 1.51%
and 3.91% respectively on BSE. (News)
Mahindra Satyam and Tech Mahindra surged 4.17% and 2.91% respectively on BSE as AP High Court has reportedly
approved the merger of companies.
Jindal Steel & Power (JSPL) tanked 15.18% to hit fresh 52 week low at Rs 202 on BSE after the Central Bureau of
Investigation (CBI) registered FIR against 4 companies and 2 individuals including JSPL in coal gate scam. The two
individuals include JSPL’s Chief Naveen Jindal and former minister of state coal Dasari Rao.
The market breadth on the BSE closed in negative. Advancing and declining stocks were 705 and 1725 respectively,
while 129 scrips remained unmoved.
The S&P BSE Sensex ended at 19143.00, down 298.07 points or 1.53%. The 30 share index touched a high and a
low of 19418.74 and 19121.18 respectively. 5 stocks advanced against 24 declining ones on the benchmark index.
The CNX Nifty lost 89.20 points or 1.52% to settle at 5788.80. The index touched high and low of 5868.05 and
5780.35 respectively. 11 stocks advanced against 39 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 6230.49 and lost 1.60% while S&P BSE Small-cap index hammered
down by 1.82% to 5807.46.
The broader S&P BSE 500 index decreased to 7207.09 (down 1.59%) and CNX 500 index declined to 4529.85 (down
1.62%).
The volatility as denoted by INDIA VIX gained 7.62% at 19.49 from its previous close of 18.11 on Monday.
Sectors in action
Consumer Durables (down 6.36%), Metals (down 4.13%) and Real Estate (down 3.68%) were the top losers.
The Angels and the Devils
Cipla Ltd (up 1.90%), Bajaj Auto Ltd (up 0.83%), Wipro Ltd (up 0.69%), GAIL (India) Ltd (up 0.39%) and Hindustan
Unilever Ltd (up 0.05%) were the top gainers on the Sensex.
Jindal Steel and Power Ltd (down 15.18%), Hindalco Industries Ltd (down 5.97%), Tata Power Company Ltd (down
5.87%), Oil and Natural Gas Corporation Ltd (down 3.91%) and ICICI Bank (down 3.75%) were the top losers on the
Sensex.

2. Benchmark Drivers
ICICI Bank (-57.52 points), Housing Development Finance Corporation Ltd (-37.02 points), HDFC Bank (-26.50 points),
Oil and Natural Gas Corporation Ltd (-25.55 points) and Jindal Steel and Power Ltd (-20.27 points) were the major
Sensex drivers today.
On the other end ICICI Bank (-14.29 points), Housing Development Finance Corporation Ltd (-9.42 points), Oil and
Natural Gas Corporation Ltd (-6.60 points), HDFC Bank (-6.54 points) and Jindal Steel and Power Ltd (-5.19 points)
were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5812 for next session. The next support is at 5757 and on upside it has a resistance at
5844 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
12-Jun-2013 5669 5725 5757 5812 5844 5900 5932 -
11-Jun-2013 5772 5815 5846 5889 5921 5963 5995 5788.80
10-Jun-2013 5743 5807 5844 5908 5945 6010 6047 5878.00
S&P BSE Sensex has a pivot at 19228 with first level of support and resistance at 19037 and 19334 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
12-Jun-2013 18739 18930 19037 19228 19334 19525 19632 -
11-Jun-2013 19124 19246 19343 19465 19562 19683 19781 19143.00
10-Jun-2013 19000 19199 19314 19513 19628 19827 19942 19441.07
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