After rallying for 9 consecutive sessions, markets started flat today with negative bias tracking weak global cues. Amid volatility, Nifty managed to sustain 5600 while Sensex ended just shy of 18500.

1. Choppy markets end down...Nifty sustains 5600
Market Summary
18-Sep-2012
After rallying for 9 consecutive sessions, markets started flat today with negative bias tracking weak global cues. Amid volatility, Nifty
managed to sustain 5600 while Sensex ended just shy of 18500.
Overnight U.S. markets, Asian markets and European markets were all exhibiting negative trends.
Driven by the rise in food inflation, August inflation, based on the consumer price index (CPI) in India, entered double digit figure of
10.03 percent as compared to 9.86 percent for the month of July 2012. Earlier wholesale price index (WPI), India's main inflation
gauge, shockingly rose at 7.55% for the month of August, as compared to 6.87% (Provisional) for the previous month. RBI,
maintaining its anti-inflationary stance kept the key policy rates unchanged and only cut the cash reserve ratio (CRR) by 25 basis
points. (News)
The market breadth on the BSE closed in positive. Advances and declining stocks were in a ratio of 1653:1218 while 128 scrips
remained unmoved.
The BSE Sensex ended at 18496.01, down 46.30 points or 0.25%. The 30 share index touched a high and a low of 18580.48 and
18469.51 respectively. 13 stocks advanced against 16 declining ones on the benchmark index.
The S&P CNX Nifty lost 9.95 points or 0.18% to settle at 5600.05. The index touched high and low of 5620.55 and 5586.45
respectively. 27 stocks advanced against 22 declining ones on the index.
Sensex Nifty
The BSE Mid-cap index moved up to 6371.71 and gained 0.88% while Small-cap index jumped up by 0.73% to 6746.66.
The broader BSE 500 index increased to 7029.41 (up 0.18%) and S&P CNX 500 index rose to 4390.85 (up 0.18%).
The volatility as denoted by INDIA VIX gained 0.28% at 17.83 from its previous close of 17.78 on Monday.
Sectors in action
On the BSE Sectorial front, Capital Goods (up 0.90%), Power (up 0.88%) and Banks (up 0.69%) were the top gainers.
Oil & Gas (down 1.13%), Information Technology (down 0.54%) and Healthcare (down 0.22%) were the top losers.
The Angels and the Devils
Bharat Heavy Electricals Limited (up 5.44%), State Bank of India (up 3.59%), Jindal Steel and Power Limited (up 2.64%), GAIL (India)
Limited (up 2.35%) and Infosys Limited (up 1.45%) were the top gainers on the Sensex.
Wipro Limited (down 3.79%), T Consultancy Services Limited (down 3.02%), Hindalco Industries Ltd. (down 2.13%), Reliance
ata
Industries Limited (down 2.11%) and NTPC Limited (down 1.51%) were the top losers on the Sensex.
Benchmark Drivers
Reliance Industries Limited (-39.15 points), T Consultancy Services Limited (-28.30 points), State Bank of India (26.77 points),
ata
Infosys Limited (21.52 points) and ICICI Bank (-16.05 points) were the major Sensex drivers today.
On the other end Reliance Industries Limited (-10.03 points), T Consultancy Services Limited (-7.70 points), State Bank of India
ata
(6.54 points), Infosys Limited (5.49 points) and ICICI Bank (-4.15 points) were the major Nifty movers today.
Going Forward
S&P CNX Nifty is now pivoted at 5602 for next session. The next support is at 5584 and on the upside it has a resistance at 5618
levels.
S3 S2 S1 PIVOT R1 R2 R3
5550 5568 5584 5602 5618 5636 5652
Similarly, the Sensex has a pivot at 18515 with the first level of support and resistance at 18450 and 18561 respectively.
S3 S2 S1 PIVOT R1 R2 R3
18339 18404 18450 18515 18561 18626 18672
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