1. Snapping 4-day rally, markets slip over 1% ahead of RBI's policy next week
Market Snapshot | 24-01-2014 04:20 PM
After hitting record closing high yesterday, Indian indices plunged at open tailing sluggish global cues. Markets
extended southward journey on RBI Governor’s aggressive comments over inflation. Further magnifying their losses
amidst selling pressure, benchmarks tumbled over 1% to end near intra-day low levels. On BSE sectorial front, Capital
Goods was the top laggard.
Among global peers, US, Asian and European indices tanked on disappointing Chinese PMI numbers and corporate
earnings across the globe.
Back home, Raghuram Rajan today gave hawkish comments over inflation. He described inflation as a ‘destructive
disease’ and added that it has become important to bring down the prices as the rising inflation harms the country’s
growth. Citing the fact that high demand against the supply is responsible for inflation, the governor expressed the
need to reduce demand without affecting investment and supply. (Read More)
On stock specific front, Ranbaxy slumped 19.3% on BSE after US Food and Drug Administration (USFDA) prohibited
the company from manufacturing and distributing active pharmaceutical ingredients (APIs) from its facility in Toansa,
India. (Read More)
Key Quarterly Results
Cairn India ended marginally down on posting steep fall of 88.88% in Q3FY14 Net at Rs 1473.4 crore as compared to
Rs 13251.12 crore for the same quarter in the previous year. On consolidated basis, the group’s Net dropped 13.8% at
Rs 2884 crore for the quarter as compared to Rs 3344.9 crore for Q3FY13. (Featured Result)
L&T Finance Holdings reported 73.48% plunge in Q3FY14 Net at Rs 50.18 crore as compared to Rs 189.22 crore for
the same quarter in the previous year. On the consolidated basis, the group’s Net tanked 62.8% to Rs 109.68 crore for
the quarter as compared to Rs 294.62 crore in Q3FY13. (Read More)
Bharat Electronics slipped 2% on BSE after posting a fall of nearly 3% in Q3FY14 Net at Rs 191.74 crore as
compared to Rs 197.6 crore in the corresponding quarter previous year. (Result)
UPL Ltd registered 52.22% jump in Q3FY14 Net at Rs 72.44 crore as compared to Rs 47.6 crore in the corresponding
quarter previous year. On the consolidated basis, the group’s Net grew 28.10% at Rs 222.24 crore for the quarter as
compared to Rs 173.49 crore for Q3FY13. (Result)
The market breadth on the BSE closed in negative. Advancing and declining stocks were 948 and 1792 respectively,
while 157 scrips remained unmoved.
The S&P BSE Sensex ended at 21133.56, down 240.10 points or 1.12%. The 30 share index touched a high and a
low of 21333.66 and 21123.99 respectively. 3 stocks advanced against 27 declining ones on the benchmark index.
The CNX Nifty lost 78.90 points or 1.24% to settle at 6266.75. The index touched high and low of 6331.45 and
6263.90 respectively. 8 stocks advanced against 42 declining ones on the index.
S&P BSE Sensex
CNX Nifty
The S&P BSE Mid-cap index moved down to 6455.26 and lost 1.66% while S&P BSE Small-cap index hammered
down by 1.81% to 6444.46.
The broader S&P BSE 500 index decreased to 7701.92 (down 1.35%) and CNX 500 index declined to 4836.70 (down
1.36%).
The volatility as denoted by INDIA VIX gained 1.60% at 15.83 from its previous close of 15.58 on Thursday.
Sectors in action
Real Estate (down 3.19%), Capital Goods (down 2.68%) and Consumer Durables (down 2.65%) were the top losers.
There was no gainer among BSE sectorals.

2. The Angels and the Devils
NTPC Ltd (up 0.38%), Bajaj Auto Ltd (up 0.20%) and Reliance Industries Ltd (up 0.11%) were the top gainers on the
Sensex.
Bharat Heavy Electricals Ltd (down 3.39%), Tata Motors Ltd (down 3.26%), Tata Steel Ltd (down 3.26%), Sesa
Sterlite Ltd (down 2.92%) and Larsen And Toubro Ltd (down 2.63%) were the top losers on the Sensex.
Benchmark Drivers
ITC Ltd (-30.61 points), ICICI Bank (-28.33 points), Larsen And Toubro Ltd (-26.25 points), Tata Motors Ltd (-25.79
points) and Housing Development Finance Corporation Ltd (-19.33 points) were the major Sensex drivers today.
On the other end ITC Ltd (-7.57 points), ICICI Bank (-7.11 points), Tata Motors Ltd (-6.81 points), Larsen And Toubro
Ltd (-6.43 points) and Housing Development Finance Corporation Ltd (-4.92 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6287 for next session. The next support is at 6243 and on upside it has a resistance at
6311 levels.
CNX Nifty
Eff. Date
27-Jan-2014
24-Jan-2014
23-Jan-2014
S3
6176
6284
6238
S2
6220
6300
6263
S1
6243
6323
6301
PIVOT
6287
6339
6325
R1
6311
6362
6363
R2
6355
6378
6388
R3
6378
6401
6426
Actual Close
6266.75
6345.65
S&P BSE Sensex has a pivot at 21197 with first level of support and resistance at 21060 and 21270 respectively.
S&P BSE Sensex
Eff. Date
27-Jan-2014
24-Jan-2014
23-Jan-2014
S3
20851
21144
21002
Follow us on
S2
20987
21204
21085
S1
21060
21289
21211
PIVOT
21197
21349
21295
R1
21270
21434
21421
R2
21407
21494
21504
R3
21480
21579
21630
Actual Close
21133.56
21373.66
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