Benchmarks at record closing high; IT tops sectorials

1. Benchmarks at record closing high; IT tops sectorials
Market Snapshot | 23-07-2014 04:20 PM
Benchmarks opened gap up to stretch the euphoric ride for seventh consecutive session tracking gains in global
peers. Nifty attained another record high milestone of 7809.2. In noon deals, markets pared some gains to trade below
the neutral line on profit booking. However, both frontline gauges soon recovered to settle at record closing highs of
26147 and 7795.75. On BSE sectorial front, IT index topped the charts.
Among global peers, US markets surged on better-than-expected inflation and housing reports as well as a flood of
second-quarter earnings reports. Asian and European markets too climbed on a positive handover from Wall-Street.
Back home, on currency front, Rupee was trading on a strong note against Dollar taking support from the gains in
local equities. In futures trades, INR hit an intra-day high of 60.15/USD and an intra-day low of 60.26/USD. In spot
trades, INR hit an intra-day high of 60.10/USD and an intra-day low of 60.20/USD. As per RBI reference rates, INR
stood at 60.18/USD.
On commodities front, the yellow metal was trading on firm note after recovering from the early losses. In futures
trades of August expiry, Gold marked an intra-day high at Rs 27978 per 10 grams and an intra-day low at Rs 27899
per 10 grams.
On stock specific front, IT bellwether, Tata Consultancy Services (TCS) gained 2.2% to hit fresh record high at Rs
2595 on BSE today and has crossed the market capitalization of Rs 5 lakh to be the highest among listed Indian
companies. The company got investors’ attention on entering into a new partnership with MapR Technologies, Inc.
(MapR) provider of the top-ranked distribution for Apache Hadoop.
Bank of Baroda jumped 2.66% on BSE after Reserve Bank of India (RBI) lifted the ban imposed on foreign institutional
investors (FIIs) to buy shares in the company as the foreign shareholding has gone below the prescribed limit.
JMT Auto locked at upper circuit of 5% on BSE after the company’s Board of Directors Board fixed 31 July 2014 as the
record date for 5:2 bonus issue.
Key Quarterly Results
Axis Bank marked fresh 52 week high at Rs 2042.95 on BSE after its Q1 Net climbed 18.3% to Rs 1666.7 crore as
compared to Rs 1408.9 in the same quarter of the previous year.
Yes Bank’s Q1FY15 Net grew 9.64% at Rs 439.48 crore as compared to Rs 400.84 crore for the same quarter of
previous year. Bank’s gross NPAfor quarter stood at 0.33%, as compared to 0.22% in the Q1FY14. The stock lowered
1.7% on BSE today.
Ceat Ltd tanked 7.42% on BSE after recording 20% steep fall in Q1FY15 Net at Rs 46.80 crore as compared to Rs
58.43 crore for the same quarter of the previous year. On the consolidated basis, company’s Net slipped 21% at Rs
51.66 crore for the quarter as compared to Rs 65.32 crore for Q1FY14.
JSW Energy ended 1.5% up on BSE after registering a jump of 42.68% in Q1FY15 Net at Rs 238.67 crore as
compared to Rs 167.28 crore for the same quarter of previous fiscal. On the consolidated basis, group’s Net spiked
52% at Rs 325.47 crore for the quarter as compared to Rs 214.26 crore for Q1FY14.
Polaris Financial Technology tumbled 7.4% on BSE after posting 28.7% fall in Q1FY15 Net at Rs 22.7 crore as against
Rs 31.9 crore in the same quarter of previous year.
KPIT Technologies crashed 11.5% on BSE after its Q1FY15 consolidated net fell 17.13% to Rs 50.80 crore on year on
year basis. However, standalone Net profit grew 16.8% to Rs 33.5 crore for the quarter as against Rs 28.6 crore in
Q1FY14.
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1398 and 1713
respectively, while 114 scrips remained unmoved.
The S&P BSE Sensex ended at 26147.33, up 121.53 points or 0.47%. The 30 share index touched a high and a low
of 26188.64 and 26000.40 respectively. 17 stocks advanced against 13 declining ones on the benchmark index.
The CNX Nifty gained 27.90 points or 0.36% to settle at 7795.75. The index touched high and low of 7809.20 and
7752.90 respectively. 24 stocks advanced against 26 declining ones on the index.

2. S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 9311.72 and gained 0.01% while S&P BSE Small-cap index hammered
down by 0.63% to 10204.18.
The broader S&P BSE 500 index increased to 9931.69 (up 0.15%) and CNX 500 index rose to 6261.10 (up 0.16%).
The volatility as denoted by INDIA VIX gained 0.34% at 14.69 from its previous close of 14.64 on Tuesday.
Sectors in action
On the BSE Sectorial front, Information Technology (up 2.24%), Consumer Durables (up 0.37%) and Banks (up
0.24%) were the top gainers.
Metals (down 0.39%), Healthcare (down 0.17%) and Power (down 0.14%) were the top losers.
The Angels and the Devils
Infosys Ltd (up 3.46%), Hindalco Industries Ltd (up 2.58%), Tata Consultancy Services Ltd (up 2.21%), Wipro Ltd (up
1.87%) and Mahindra and Mahindra Ltd (up 1.58%) were the top gainers on the Sensex.
Tata Steel Ltd (down 1.27%), Tata Power Company Ltd (down 1.25%), Maruti Suzuki India Ltd (down 0.94%), Oil and
Natural Gas Corporation Ltd (down 0.91%) and Axis Bank (down 0.82%) were the top losers on the Sensex.
Benchmark Drivers
Infosys Ltd (62.81 points), Tata Consultancy Services Ltd (37.74 points), ICICI Bank (30.04 points), Mahindra and
Mahindra Ltd (9.91 points) and HDFC Bank (-8.86 points) were the major Sensex drivers today.
On the other end Infosys Ltd (16.38 points), Tata Consultancy Services Ltd (9.16 points), ICICI Bank (7.63 points),
Hindalco Industries Ltd (2.31 points) and Ultratech Cement Ltd (-2.19 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7786 for next session. The next support is at 7763 and on upside it has a resistance at
7819 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
24-Jul-2014 7706 7730 7763 7786 7819 7842 7875 -
23-Jul-2014 7655 7680 7724 7749 7793 7818 7862 7795.75
22-Jul-2014 7617 7645 7665 7693 7713 7742 7761 7767.85
S&P BSE Sensex has a pivot at 26112 with first level of support and resistance at 26036 and 26224 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
24-Jul-2014 25847 25924 26036 26112 26224 26300 26412 -
23-Jul-2014 25584 25682 25854 25952 26124 26222 26394 26147.33
22-Jul-2014 25438 25558 25622 25741 25805 25925 25988 26025.80
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