Indian markets fell 0.8% due to political concerns as an ally of the ruling government withdrew support over fuel price hikes and foreign direct investment in retail. Shares in retail companies declined sharply from the uncertainty around FDI policy. The BSE Sensex closed at 18,349.25, down 146 points, and the Nifty fell 45 points to close at 5,554.25. Metals, capital goods, and power sectors witnessed the largest losses while IT and FMCG gained.

1. Markets end 0.8% down on political worries
Market Summary
20-Sep-2012
Markets had a gap down start on political worries as one of the allies of the government, Trinamool Congress had withdrawn its
support from the government on issue of fuel hikes and FDI in retail. Retail shares like Provogue (India), Pantaloon Retail and Trent
have plunged today owing to uncertainty about FDI issue. Markets closed the day with about 0.80% losses.
The market breadth on the BSE closed in negative. Advances and declining stocks were in a ratio of 1194:1612 while 109 scrips
remained unmoved.
The BSE Sensex ended at 18349.25, down 146.76 points or 0.79%. The 30 share index touched a high and a low of 18443.92 and
18291.93 respectively. 10 stocks advanced against 20 declining ones on the benchmark index.
The S&P CNX Nifty lost 45.80 points or 0.82% to settle at 5554.25. The index touched high and low of 5581.35 and 5534.90
respectively. 16 stocks advanced against 34 declining ones on the index.
Sensex Nifty
The BSE Mid-cap index moved down to 6330.28 and lost 0.65% while Small-cap index hammered down by 0.53% to 6710.97.
The broader BSE 500 index decreased to 6979.94 (down 0.70%) and S&P CNX 500 index declined to 4358.95 (down 0.73%).
The volatility as denoted by INDIA VIX gained 4.43% at 18.62 from its previous close of 17.83 on Tuesday.
Sectors in action
On the BSE Sectorial front, Information Technology (up 0.84%) and FMCG (up 0.15%) were the top gainers.
Metals (down 2.28%), Capital Goods (down 1.94%) and Power (down 1.63%) were the top losers.
The Angels and the Devils
Bajaj Auto Limited (up 2.31%), T Consultancy Services Limited (up 1.62%), Oil and Natural Gas Corporation Limited (up 1.21%),
ata
Wipro Limited (up 0.93%) and ITC Limited (up 0.92%) were the top gainers on the Sensex.
Bharat Heavy Electricals Limited (down 3.62%), GAIL (India) Limited (down 3.58%), Coal India Ltd. (down 2.99%), Sterlite Industries
(India) Limited (down 2.80%) and Tata Steel Limited (down 2.73%) were the top losers on the Sensex.
Benchmark Drivers
Reliance Industries Limited (-48.92 points), ICICI Bank (-36.28 points), Housing Development Finance Corporation Limited (-24.40
points), Larsen And Toubro Limited (-20.05 points) and ITC Limited (15.31 points) were the major Sensex drivers today.
On the other end Reliance Industries Limited (-12.77 points), ICICI Bank (-9.47 points), Housing Development Finance Corporation
Limited (-6.01 points), Larsen And Toubro Limited (-5.48 points) and T Consultancy Services Limited (4.04 points) were the major
ata
Nifty movers today.
Going Forward
S&P CNX Nifty is now pivoted at 5556 for next session. The next support is at 5531 and on upside it has a resistance at 5578 levels.
S3 S2 S1 PIVOT R1 R2 R3
5484 5509 5531 5556 5578 5603 5625
Similarly, Sensex has a pivot at 18361 with first level of support and resistance at 18279 and 18431 respectively.
S3 S2 S1 PIVOT R1 R2 R3
18127 18209 18279 18361 18431 18513 18672
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