Markets end lower on weak WPI and Iraq concerns; INR@60

1. Markets end lower on weak WPI and Iraq concerns; INR@60
Market Snapshot | 16-06-2014 04:20 PM
Following a green start, Indian indices slumped instantly in red zone on weak global cues. Disappointing WPI data
added to the pressure on stocks. Towards the closing, both barometer gauges trimmed losses to settle marginally
down with Nifty above 7530. On BSE sectorial front, Capital Goods topped the laggards whereas Realty was the top
gainer.
Among global peers, US markets gained shrugging off the worsening situations in Iraq. However, Asian and
European markets were seen trading mostly weak on escalating violence in Iraq.
Back home, on currency front, Rupee slumped to one-month low levels amidst surge in crude oil prices that may
impact the economic situation of the country. In futures trades, INR hit an intra-day high of 59.94/USD and an intra-day
low of 60.40/USD. As per RBI reference rates, INR stood at 60/USD.
On commodities front, the yellow metal climbed higher amidst weakness in global markets. In futures trades of
August expiry, Gold marked intra-day high at Rs 27035 per 10 grams and an intra-day low at Rs 26650 per 10 grams.
On macro-economic front, in contrary to the good numbers of retail inflation and factory output, the headline inflation
has shockingly accelerated to six months high in May. India’s headline inflation gauged by Wholesale Price Index
(WPI) climbed to highest level since December 2013 at 6.01% in May 2014 as compared to 5.20% in April 2014 and
4.58% during corresponding month in May 2013. The sharp rise in fuel and food price pushed the inflation above 6%
mark.
On stock-specific front, Nitesh Estates spurted 4.9% on BSE after signing a Joint Development Agreement (JDA) for
development of a gated community in an area of 12 acres to accommodate 440 units.
GAIL India spiked 4% on BSE as the company is planning to reduce its equity stake in Oil and Natural Gas
Corporation’s (ONGC) mega petrochem project at Dahej to 11.6% from 19%.
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1457 and 1654
respectively, while 135 scrips remained unmoved.
The S&P BSE Sensex ended at 25190.48, down 37.69 points or 0.15%. The 30 share index touched a high and a
low of 25268.41 and 25063.93 respectively. 15 stocks advanced against 15 declining ones on the benchmark index.
The CNX Nifty lost 8.55 points or 0.11% to settle at 7533.55. The index touched high and low of 7548.60 and 7487.55
respectively. 24 stocks advanced against 25 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 8966.88 and gained 0.35% while S&P BSE Small-cap index jumped up by
0.31% to 9704.39.
The broader S&P BSE 500 index increased to 9610.51 (up 0.04%) and CNX 500 index declined to 6056.70 (down
0.01%).
The volatility as denoted by INDIA VIX gained 1.24% at 17.98 from its previous close of 17.76 on Friday.
Sectors in action
On the BSE Sectorial front, Real Estate (up 1.70%), Information Technology (up 1.54%) and Consumer Durables (up
0.86%) were the top gainers.
Capital Goods (down 1.16%), Automobile (down 1.07%) and Banks (down 0.52%) were the top losers.
The Angels and the Devils
GAIL (India) Ltd (up 3.95%), Sun Pharmaceutical Industries Ltd (up 2.49%), Tata Consultancy Services Ltd (up
2.43%), Infosys Ltd (up 1.90%) and Tata Power Company Ltd (up 1.69%) were the top gainers on the Sensex.
Axis Bank (down 2.58%), Mahindra and Mahindra Ltd (down 2.34%), Larsen And Toubro Ltd (down 2.08%), Reliance
Industries Ltd (down 1.61%) and Tata Motors Ltd (down 1.58%) were the top losers on the Sensex.

2. Benchmark Drivers
Tata Consultancy Services Ltd (36.71 points), Reliance Industries Ltd (-35.98 points), Infosys Ltd (34.28 points),
Larsen And Toubro Ltd (-33.92 points) and Housing Development Finance Corporation Ltd (-24.94 points) were the
major Sensex drivers today.
On the other end Tata Consultancy Services Ltd (9.91 points), Larsen And Toubro Ltd (-8.87 points), Reliance
Industries Ltd (-8.77 points), Infosys Ltd (8.37 points) and Housing Development Finance Corporation Ltd (-8.03
points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7523 for next session. The next support is at 7498 and on upside it has a resistance at
7559 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
17-Jun-2014 7437 7462 7498 7523 7559 7584 7620 -
16-Jun-2014 7332 7429 7485 7582 7639 7735 7792 7533.55
13-Jun-2014 7546 7570 7610 7634 7674 7698 7738 7542.10
S&P BSE Sensex has a pivot at 25174 with first level of support and resistance at 25080 and 25285 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
17-Jun-2014 24876 24970 25080 25174 25285 25379 25489 -
16-Jun-2014 24520 24846 25037 25363 25554 25879 26070 25190.48
13-Jun-2014 25252 25331 25454 25532 25655 25734 25857 25228.17
Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.