Day gone by: Markets end in red for third straight session as L&T Q4 losses disappoints street. Nifty ends below 6100. Oil& Gas stocks tank on proposed pricing policy. Global markets in green as US & Japan hinted for continuing stimulus

1. Markets suffer on L&T Q4 show....Nifty closes below 6100
Market Summary
22-May-2013
Benchmarks started jubilantly amid positive global cues. Later in afternoon session, markets dived below previous
close dragged by Capital Goods and Realty stocks. Index heavyweight L&T alone costed 59 points to Sensex on
worse than expected Q4 numbers. Sensex lost 49 points at the close whereas Nifty ended below 6100.
Globally, US markets rose with Dow industrials and S&P 500 ending at record highs as Federal Reserve officials
suggested that the central bank is not close to tapering its bond-buying program. On the other hand, Asian markets
edged higher with Nikkei touching fresh five and a half year high, after the Bank of Japan (BOJ) concluded its two
days meet and maintained its easing plan.
Back home, IPO of Just Dial is subscribed 10 times so far supported by Qualified Institutional Buyers (QIBs) and High
Net worth Individuals (HNIs). The issue was open for subscription from May 20 to May 22. The price band for the issue
is at Rs 470-543 per share. Retail Investors will get 10% discount on the issue price.
Oil marketing companies, HPCL, IOC, BPCL, Cairn India and GAIL sank 4.62%, 3.32%, 2.43% and 1.34% over the
concerns of new fuel pricing policy which the Government has proposed. Under the new policy, the pricing will shift
from the current trade parity basis to export parity basis which will increase losses to OMCs.
Sun Pharmaceutical soared 2.90% to make a fresh all time high at Rs 1013.10 on BSE. The stock surpassed the Rs
1000 level for the first time since listing.
United Spirits surged 3.08% and made fresh all time high at Rs 2520 on BSE after Morgan Stanley continued with an
"overweight" rating on the stock.
Puravankara Projects dipped 7.76% on BSE after setting a price band of Rs 80 -85 for the proposed issuance of
equity shares through the Institutional Placement Programme (IPP). (News)
FMCG major, ITC gained 1.28% on BSE after the company expanded its deodorant portfolio by launching three pairs
of deodorants under a new brand Engage. (News)
Key Quarterly Results
Larsen and Toubro slumped 5.57% on BSE after its Net Profit dipped by 6.90% in Q4 to Rs 1787.94 crore. However,
on consolidated basis, the company has registered 10.91% rise y-o-y.(Featured Result)
Zee Entertainment Enterprises dipped 1.45% on BSE despite its Q4 grew 36.56% to Rs 183.72 crore. (Result)
Prestige Estates Projects dived 2.49% on BSE despite registering over 2 fold jump in its net profit at Rs 89.03 crore in
Q4. (News)
AstraZeneca Pharma tanked 4.21% on BSE on posting a Net loss of Rs 19 crore in Q4FY13.
The market breadth on the BSE closed in negative. Advancing and declining stocks were 902 and 1474 respectively,
while 140 scrips remained unmoved.
The S&P BSE Sensex ended at 20062.24, down 49.37 points or 0.25%. The 30 share index touched a high and a
low of 20220.35 and 20000.86 respectively. 14 stocks advanced against 16 declining ones on the benchmark index.
The CNX Nifty lost 19.60 points or 0.32% to settle at 6094.50. The index touched high and low of 6147.60 and
6074.45 respectively. 17 stocks advanced against 33 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 6492.77 and lost 0.83% while S&P BSE Small-cap index hammered
down by 0.82% to 6109.07.
The broader S&P BSE 500 index decreased to 7575.63 (down 0.45%) and CNX 500 index declined to 4766.85 (down
0.45%).
The volatility as denoted by INDIA VIX lost 0.89% at 17.72 from its previous close of 17.88 on Tuesday.

2. Sectors in action
On the BSE Sectorial front, FMCG (up 0.83%), Healthcare (up 0.41%) and Information Technology (up 0.13%) were
the top gainers.
Capital Goods (down 3.67%), Real Estate (down 3.47%) and Oil & Gas (down 0.98%) were the top losers.
The Angels and the Devils
Sun Pharmaceutical Industries Ltd (up 2.90%), Bharti Airtel Ltd (up 2.25%), Dr. Reddys Laboratories Ltd (up 1.84%),
NTPC Ltd (up 1.48%) and ITC Ltd (up 1.28%) were the top gainers on the Sensex.
Larsen And Toubro Ltd (down 5.57%), Tata Power Company Ltd (down 2.16%), Hero MotoCorp Ltd (down 2.04%),
GAIL (India) Ltd (down 1.34%) and Sterlite Industries (India) Ltd (down 1.25%) were the top losers on the Sensex.
Benchmark Drivers
Larsen And Toubro Ltd (-59.02 points), ITC Ltd (27.97 points), Reliance Industries Ltd (-20.33 points), Sun
Pharmaceutical Industries Ltd (13.93 points) and Bharti Airtel Ltd (10.83 points) were the major Sensex drivers today.
On the other end Larsen And Toubro Ltd (-15.23 points), ITC Ltd (7.55 points), Reliance Industries Ltd (-5.26 points),
Sun Pharmaceutical Industries Ltd (3.47 points) and Bharti Airtel Ltd (3.03 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6106 for next session. The next support is at 6063 and on upside it has a resistance at
6137 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
23-May-2013 5990 6032 6063 6106 6137 6179 6210 -
22-May-2013 6006 6054 6084 6132 6162 6210 6240 6094.50
21-May-2013 6042 6094 6125 6177 6209 6261 6292 6114.10
S&P BSE Sensex has a pivot at 20094 with first level of support and resistance at 19969 and 20188 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
23-May-2013 19749 19875 19969 20094 20188 20314 20408 -
22-May-2013 19785 19929 20020 20164 20256 20399 20491 20062.24
21-May-2013 19869 20028 20126 20285 20383 20542 20640 20111.61
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