Indian stock indices reached record highs as the Nifty breached 7,000 points and Sensex hit 23,550 on optimism over exit poll results for the national election. The markets gained 2.3-2.4% and were led higher by oil and gas stocks. The rupee also strengthened against the dollar, while trade deficit contracted in April. Key stock indexes closed near their highs for the day on gains across most sectors.

1. Anticipating NDA win, Nifty tickled pink to surpass 7K
Market Snapshot | 12-05-2014 04:23 PM
Continuing the ecstatic ride further, Indian indices cloaked new heights yet again ahead of the exit poll results to be
declared later today. Barometer gauges traded jubilantly to flag new record highs with Nifty breaching 7000 and
Sensex hitting 23550 milestone without much bothering. Sensex and Nifty marked record highs at 23572.88 and 7020
respectively. Slump in trade deficit for April added to the joy and markets settled near record highs, taking the steep
jump of 2.3-2.4%. On BSE sectorial front, led by RIL, Oil and Gas soared 3% to top the gainers whereas Healthcare
was the lone loser.
Among global peers, US markets edged up on the technology shares rally and encouraging rise in US wholesale
inventories for March. Additionally, European indices too traded in green whereas Asian indices exhibited mixed
trades.
Back home, on currency front, Rupee soared to strongest level since July 2013 against Dollar tracking the rally in
local equities and eased trade deficit in April. In futures trades, INR hit an intra-day high of 59.61/USD and an intra-day
low of 60.11/USD. In spot trades, INR hit an intra-day high of 59.51/USD and an intra-day low of 60.03/USD. As per
RBI reference rates, INR stood at 59.72/USD.
On political front, today was the last polling day marking its 9th phase of voting for Lok Sabha Elections. 41 seats
from 3 states were in fray to decide the next Government for the country. As per the reports, 44.75% voter turnout was
seen in Varanasi till 3 pm. With this, a long but truly remarkable, voting process of India's general election 2014 has
concluded. The results would be announced on 16th May 2014.
On macro-economic front, adding cherry to the cake, trade deficit for the month of April 2014 contracted to $10.01
billion in April as compared to $10.51 billion in the previous month and $17.67 billion reported in the corresponding
month of the previous year. The contraction in trade deficit is attributed to high exports that rose by 5.26% to $25.63
billion in the reported month from $24.35 in April 2013. Additionally, Indian imports too contracted 15% to $35.72 billion
in April from $42.02 billion in the same month of previous year.
On stock specific front, private sector giant, Reliance Industries Ltd (RIL) rallied 3.17% to hit new 52 week high at
1048 on BSE after the company, as BP and NIKO issued a Notice of Arbitration on Friday to the Government of India
(GoI) for seeking the implementation of the ‘Domestic Natural Gas Pricing Guideline 2014’ notified on January 10,
2014.
Key Quarterly Results
Indian Bank ended in red in the otherwise rally in market on posting 7.13% fall in Q4 Net at Rs 271.28 crore as
compared to Rs 292.12 crore for the same quarter in the previous year.
Central Bank of India slipped 1% on BSE after registering 4% decline in Q4 Net at Rs 162.44 crore as compared to Rs
169.15 crore for the same quarter in the previous year.
Dena Bank ended marginally in green after recording a rise of 49% in Q4 Net at Rs 187.28 crore as compared to Rs
125.67 crore for the same quarter in the previous year.
Torrent Pharmaceuticals shot up by 2.8% to make new 52 week high at Rs 688.7 on BSE after its Q4 net spiked
64.7% to Rs 252 crore as compared to Rs 153 crore in the same quarter of the previous year.
Corporation Bank tanked 5% on BSE after registering steep fall in Q4 Net at Rs 41.5 crore as compared to Rs 355.5
crore in the same quarter of the previous year.
GlaxoSmithKline Consumer Healthcare Ltd ended 1% down despite reporting 9.8% jump in Q4 Net at Rs 171 crore as
compared to Rs 156 crore in the same quarter of the previous year.
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1482 and 1486
respectively, while 179 scrips remained unmoved.
The S&P BSE Sensex ended at 23551.00, up 556.77 points or 2.42%. The 30 share index touched a high and a low
of 23572.88 and 23008.65 respectively. 25 stocks advanced against 5 declining ones on the benchmark index.
The CNX Nifty gained 155.45 points or 2.27% to settle at 7014.25. The index touched high and low of 7020.05 and
6862.90 respectively. 41 stocks advanced against 9 declining ones on the index.

2. S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 7510.73 and gained 0.73% while S&P BSE Small-cap index jumped up by
0.51% to 7632.29.
The broader S&P BSE 500 index increased to 8693.55 (up 1.91%) and CNX 500 index rose to 5479.70 (up 1.93%).
The volatility as denoted by INDIA VIX lost 1.59% at 37.11 from its previous close of 37.71 on Friday.
Sectors in action
On the BSE Sectorial front, Oil & Gas (up 3.07%), Power (up 2.98%) and Automobile (up 2.88%) were the top gainers.
Healthcare (down 0.81%) was the sole loser.
The Angels and the Devils
Coal India Ltd (up 7.04%), HDFC Bank (up 4.59%), Tata Motors Ltd (up 4.09%), Hero MotoCorp Ltd (up 4.01%) and
Maruti Suzuki India Ltd (up 3.99%) were the top gainers on the Sensex.
Sun Pharmaceutical Industries Ltd (down 1.73%), Cipla Ltd (down 1.26%), Hindalco Industries Ltd (down 0.52%),
Wipro Ltd (down 0.14%) and Tata Consultancy Services Ltd (down 0.07%) were the top losers on the Sensex.
Benchmark Drivers
ITC Ltd (85.47 points), HDFC Bank (76.70 points), Reliance Industries Ltd (64.60 points), Larsen And Toubro Ltd
(42.16 points) and Infosys Ltd (40.70 points) were the major Sensex drivers today.
On the other end ITC Ltd (22.71 points), HDFC Bank (20.35 points), Reliance Industries Ltd (16.58 points), Larsen And
Toubro Ltd (11.15 points) and Tata Motors Ltd (9.45 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6966 for next session. The next support is at 6911 and on upside it has a resistance at
7069 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
13-May-2014 6754 6809 6911 6966 7069 7123 7226 -
12-May-2014 6498 6575 6717 6794 6936 7013 7155 7014.25
09-May-2014 6586 6612 6636 6662 6686 6712 6736 6858.80
S&P BSE Sensex has a pivot at 23378 with first level of support and resistance at 23182 and 23746 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
13-May-2014 22618 22813 23182 23378 23746 23942 24311 -
12-May-2014 21793 22055 22525 22787 23256 23518 23987 23551.00
09-May-2014 22100 22189 22266 22355 22432 22521 22599 22994.23
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