Despite pessimistic global cues, Indian indices spurted at open on reform bonanza. Government has opened the foreign direct investment (FDI) gates further in over a dozen sectors paving way to boost the ill economy. Benchmarks once tanked in late afternoon amid fall in European peers but soon recovered to end in positive zone.

1. Markets manage 'green' closing on FDI push
Market Summary
17-Jul-2013
Despite pessimistic global cues, Indian indices spurted at open on reform bonanza. Government has opened the
foreign direct investment (FDI) gates further in over a dozen sectors paving way to boost the ill economy. Benchmarks
once tanked in late afternoon amid fall in European peers but soon recovered to end in positive zone.
On global front, US markets fell snapping an 8-day winning streak as a Federal Reserve member hinted against
stimulus. European markets also dipped in red whereas Asian indices traded on a mixed note.
Back home, giving an attempt to reconcile the economy, Government has raised FDI caps in over a dozen sectors
subject to some terms & conditions. FDI has been eased to 100% in Telecom sector, asset reconstruction companies
and courier services. In Insurance, petroleum refining, tea plantation, defense and power exchanges sector limit has
been raised to 49%. FDI limit in credit information companies has been increased to 74% from 49%. In single brand
retail, Government has allowed 100% FDI with 49% through automatic route and above 49% through FIPB.
Hindustan Unilever was the star performer of day, spiked 9.86% to make a fresh yearly high at Rs 698.95 on BSE after
the company hiked some of its product prices. It persuaded the FMCG sector to hit a new high at 7437.17 and close up
by 3.39% on BSE. (What’s Hot)
PSU major, State Bank of India has hit fresh 52 week low at Rs 1790.25 and ended 1.17% down on BSE after the
bank decided against increasing its lending rates. (Read More)
Network 18 Media and Investments and PVR cinemas soared 3.16% and 4.16% on BSE after the companies entered
into strategic partnership. (Read More)
Key Quarterly Results
Banking major, HDFC bank tanked 2.36% on BSE despite the company’s Q1 Net grew 30% to Rs 1843.86 crore as
against Rs 1417.39 crore on YoY basis. (Featured Result)
CMC jumped 1.62% on BSE after the company has reported 116.86% rise in its Q1 Net profit at Rs 94.53 crore as
compared to Rs 43.59 crore for the same quarter in the previous year. (Result)
Development Credit Bank (DCB) shined 0.40% on BSE on registering a jump of 126.46% in Q1 Net at Rs 42.83 crore
against Rs 18.91 crore for the same quarter in the previous year. (Read More)
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1056 and 1322
respectively, while 153 scrips remained unmoved.
The S&P BSE Sensex ended at 19948.73, up 97.50 points or 0.49%. The 30 share index touched a high and a low of
19983.22 and 19778.54 respectively. 15 stocks advanced against 15 declining ones on the benchmark index.
The CNX Nifty gained 18.05 points or 0.30% to settle at 5973.30. The index touched high and low of 5989.80 and
5926.75 respectively. 20 stocks advanced against 30 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 5984.46 and lost 0.50% while S&P BSE Small-cap index hammered
down by 0.22% to 5725.02.
The broader S&P BSE 500 index increased to 7326.64 (up 0.07%) and CNX 500 index rose to 4597.70 (up 0.03%).
The volatility as denoted by INDIA VIX gained 1.95% at 19.36 from its previous close of 18.99 on Tuesday.
Sectors in action
On the BSE Sectorial front, FMCG (up 3.39%), Consumer Durables (up 1.10%) and Information Technology (up
1.00%) were the top gainers.
Banks (down 2.32%), Metals (down 1.82%) and Automobile (down 0.77%) were the top losers.

2. The Angels and the Devils
Hindustan Unilever Ltd (up 9.86%), NTPC Ltd (up 3.18%), Wipro Ltd (up 2.96%), ITC Ltd (up 2.28%) and Tata Power
Company Ltd (up 1.96%) were the top gainers on the Sensex.
Tata Steel Ltd (down 3.26%), HDFC Bank (down 2.36%), ICICI Bank (down 2.29%), Mahindra and Mahindra Ltd
(down 2.23%) and Jindal Steel and Power Ltd (down 2.03%) were the top losers on the Sensex.
Benchmark Drivers
Hindustan Unilever Ltd (78.40 points), ITC Ltd (53.52 points), HDFC Bank (-36.08 points), ICICI Bank (-31.31 points)
and Reliance Industries Ltd (29.87 points) were the major Sensex drivers today.
On the other end Hindustan Unilever Ltd (20.09 points), ITC Ltd (13.77 points), HDFC Bank (-9.06 points), ICICI Bank
(-8.03 points) and Reliance Industries Ltd (7.65 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5963 for next session. The next support is at 5937 and on upside it has a resistance at
6000 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
18-Jul-2013 5874 5900 5937 5963 6000 6026 6063 -
17-Jul-2013 5867 5889 5922 5944 5977 5999 6032 5973.30
16-Jul-2013 5938 5959 5995 6017 6052 6074 6110 5955.25
S&P BSE Sensex has a pivot at 19904 with first level of support and resistance at 19824 and 20028 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
18-Jul-2013 19619 19699 19824 19904 20028 20108 20233 -
17-Jul-2013 19463 19556 19704 19797 19945 20038 20186 19948.73
16-Jul-2013 19732 19807 19921 19997 20110 20186 20299 19851.23
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