The Indian equity markets slumped heavily due to weak global cues and a widened trade deficit. The Sensex fell over 400 points and closed below 20k, while the Nifty fell over 126 points and closed below 6k. Several companies reported declines in their quarterly profits, including Reliance Communications, Bank of Baroda, and Dena Bank. FMCG was the worst performing sector.

1. Carnage on Dalal Street...Nifty crashes to sub 6K level
Market Summary
13-May-2013
Tracking weak global cues and widened trade deficit numbers for the month of April, Indian Equity markets slumped
heavily today. Sensex fell more than 400 points whereas Nifty shed more than 2%. On sectorial front, FMCG was the
laggard, down 3.17% on BSE. Markets closed near days low with Sensex below 20k mark and Nifty at 5980.
Consumer prices index (CPI) declined for second straight month finally to single digit at 9.39% in April as against
10.39% in the month of March. (News)
India's April trade deficit jumped to $17.8 billion due to huge imports of gold and silvers, which were up by 138% to
$7.5 billion. (News)
Lupin touched 52 week high at Rs 772.05 on BSE as the company is planning to acquire brands in the US markets.
However the stock closed 1.90% down due to negative sentiments in the market. (News)
Elder Pharma had hit lower circuit of 10% after making new 52 week low at Rs 224.60 on BSE, continuing the three
day fall amid selling of pledged shares by lenders.
Essar Oil sank 5.46% on BSE after Credit Suisse downgraded the company to "underperform" from "neutral" and cut
its target price to Rs 65.
Key Quarterly Results
Reliance Communications dipped 4.82% on BSE after the company reported a fall of 5.84% in its net profit at Rs 757
crore in Q4FY13. (News)
Bank of Baroda dived 1.82% on BSE after the company’s Net Profit dipped 32.23% at Rs 1028.85 crore on y-o-y
basis. (Featured result)
Another state owned, Dena Bank reported 50.68% fall in Q4 Net Profit at Rs 125.67 crore. The stock closed 3.57%
down on BSE. (Result)
Reliance Power’s Q4 consolidated net profit stood at Rs 266 crore in comparison to Rs 265.7 crore in the previous
quarter. The stock closed 3.06% down on BSE.
Reliance MediaWorks tanked 8.55% on BSE on posting a net loss of Rs 219.2 Cr from Rs 119.6 crore in Q4 on
consolidated basis.
Punj Lloyd has reported a net profit of Rs 15.31 crore for March Quarter. The stock closed 0.37% down on BSE.
Ashoka Buildcon registered a net profit of Rs 6.43 crore in March Quarter. The stock closed 4.49% down on BSE.
The market breadth on the BSE closed in negative. Advancing and declining stocks were 839 and 1569 respectively,
while 107 scrips remained unmoved.
The S&P BSE Sensex ended at 19691.67, down 430.65 points or 2.14%. The 30 share index touched a high and a
low of 20109.08 and 19667.39 respectively. 0 stocks advanced against 30 declining ones on the benchmark index.
The CNX Nifty lost 126.80 points or 2.08% to settle at 5980.45. The index touched high and low of 6104.95 and
5972.90 respectively. 0 stocks advanced against 49 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 6444.69 and lost 1.45% while S&P BSE Small-cap index hammered
down by 1.17% to 6114.25.
The broader S&P BSE 500 index decreased to 7458.16 (down 1.88%) and CNX 500 index declined to 4689.75 (down
1.88%).
The volatility as denoted by INDIA VIX gained 3.98% at 17.51 from its previous close of 16.84 on Saturday.

2. Sectors in action
FMCG (down 3.17%), Capital Goods (down 2.61%) and Metals (down 2.54%) were the top losers. There was no
gainer among BSE sectorial indices.
The Angels and the Devils
ITC Ltd (down 5.31%), Tata Steel Ltd (down 4.22%), Bharti Airtel Ltd (down 4.14%), Tata Motors Ltd (down 3.27%)
and Larsen And Toubro Ltd (down 2.96%) were the top losers on the Sensex. There were no gainer on the index
today.
Benchmark Drivers
ITC Ltd (-123.71 points), Larsen And Toubro Ltd (-30.49 points), Tata Consultancy Services Ltd (-25.15 points), ICICI
Bank (-25.05 points) and Reliance Industries Ltd (-21.81 points) were the major Sensex drivers today.
On the other end ITC Ltd (-30.36 points), Larsen And Toubro Ltd (-7.66 points), Tata Consultancy Services Ltd (-6.70
points), ICICI Bank (-6.63 points) and Reliance Industries Ltd (-5.93 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6019 for next session. The next support is at 5934 and on upside it has a resistance at
6066 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
14-May-2013 5802 5887 5934 6019 6066 6151 6198 -
13-May-2013 6059 6072 6089 6102 6120 6132 6150 5980.45
11-May-2013 5999 6022 6058 6082 6118 6142 6178 6107.25
S&P BSE Sensex has a pivot at 19823 with first level of support and resistance at 19536 and 19978 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
14-May-2013 19095 19381 19536 19823 19978 20264 20420 -
13-May-2013 19978 20016 20069 20108 20161 20200 20253 19691.67
11-May-2013 19744 19827 19955 20037 20165 20247 20375 20122.32
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