1. Riding on Financials, benchmarks scale new heights; Sensex knocks down
22K hurdle
Market Snapshot | 24-03-2014 04:21 PM
Indian indices started the F&O expiry week on a jubilant note amidst firm trades in Asian peers. Markets extended the
winning spree to hit fresh all-time highs as aggressive FII pumping is turned into a buying catalyst. Sensex and Nifty
marked lifetime highs of 22074.34 and 6591.5 respectively. Benchmarks settled near the record levels with Sensex
soaring triple ton at the close. Among BSE sectorials, Bankex topped the charts by soaring 2.73%.
On global front, US markets edged lower on Friday as concerns over Ukraine crisis renewed. On the other hand Asian
indices traded firm shrugging off the drop in March Chinese HSBC PMI to 8 month low levels. Tracking U.S. peers,
European indices traded in negative terrain.
Back home, on currency front, Rupee stood strong against the foreign currencies on the back of rally in local equities.
In futures trades, INR hit an intra-day high of 60.68/USD and an intra-day low of 60.98/USD. In spot trades, INR hit an
intra-day high of 60.64/USD and an intra-day low of 60.85/USD. As per RBI reference rate, INR stood at 60.7/USD.
(Read More)
On stock-specific front, Techno Electric and Engineering Company rallied 8.2% on BSE as promoters hiked their stake
in the company by over 4% to 59.28% via indirect acquisition. (Read More)
State owned, Oil and natural Gas Corporation Ltd (ONGC) spiked 4.3% on BSE ahead of Board meeting to consider
interim dividend. Earlier, In December 2013, the company paid first interim dividend of Rs 5 per share for the current
fiscal.
Cement major, ACC Ltd touched fresh 52 week high at Rs 1294 and ended 1.24% up as the company is likely to buy
Jaiprakash Associates (up 1.34%) 74% stake in two separate cement joint ventures (JV) with state-owned Steel
Authority of India (up 1.46%). (Read More)
FTSE global index will shuffle some stocks in large cap, midcap and small cap space. Stocks moved from Midcap
Index to Large cap Index are -Tech Mahindra, United Spirits and Dabur. Stocks moved from Large cap Index to Midcap
Index are – PNB, PFC, Tata Power and Reliance Power. Whereas stock moved from Smallcap Index to Midcap Index
is - Mahindra & Mahindra Financial Services. (What’s Hot)
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1315 and 1542
respectively, while 157 scrips remained unmoved.
The S&P BSE Sensex ended at 22055.48, up 300.16 points or 1.38%. The 30 share index touched a high and a low
of 22074.34 and 21827.50 respectively. 24 stocks advanced against 6 declining ones on the benchmark index.
The CNX Nifty gained 88.60 points or 1.36% to settle at 6583.50. The index touched high and low of 6591.50 and
6510.50 respectively. 42 stocks advanced against 8 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 6800.92 and gained 0.13% while S&P BSE Small-cap index jumped up by
0.15% to 6841.91.
The broader S&P BSE 500 index increased to 8085.11 (up 1.02%) and CNX 500 index rose to 5091.20 (up 1.07%).
The volatility as denoted by INDIA VIX gained 4.16% at 16.54 from its previous close of 15.88 on Saturday.
Sectors in action
On the BSE Sectorial front, Banks (up 2.73%), Oil & Gas (up 2.46%) and Metals (up 0.97%) were the top gainers.
Healthcare (down 0.61%), Consumer Durables (down 0.33%) and Information Technology (down 0.02%) were the top
losers.
The Angels and the Devils
GAIL (India) Ltd (up 4.81%), Oil and Natural Gas Corporation Ltd (up 4.27%), ICICI Bank (up 3.71%), Coal India Ltd

2. GAIL (India) Ltd (up 4.81%), Oil and Natural Gas Corporation Ltd (up 4.27%), ICICI Bank (up 3.71%), Coal India Ltd
(up 2.81%) and Hero MotoCorp Ltd (up 2.60%) were the top gainers on the Sensex.
Dr. Reddys Laboratories Ltd (down 1.34%), Wipro Ltd (down 0.98%), Cipla Ltd (down 0.80%), Sun Pharmaceutical
Industries Ltd (down 0.64%) and Infosys Ltd (down 0.60%) were the top losers on the Sensex.
Benchmark Drivers
ICICI Bank (59.53 points), HDFC Bank (41.11 points), Reliance Industries Ltd (33.60 points), Housing Development
Finance Corporation Ltd (31.36 points) and Oil and Natural Gas Corporation Ltd (26.10 points) were the major Sensex
drivers today.
On the other end ICICI Bank (14.77 points), HDFC Bank (10.14 points), Reliance Industries Ltd (8.89 points), Housing
Development Finance Corporation Ltd (7.88 points) and Oil and Natural Gas Corporation Ltd (6.55 points) were the
major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6562 for next session. The next support is at 6532 and on upside it has a resistance at
6613 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
25-Mar-2014 6451 6481 6532 6562 6613 6643 6694 -
24-Mar-2014 6462 6472 6483 6493 6505 6514 6526 6583.50
22-Mar-2014 6441 6463 6478 6501 6516 6538 6553 6494.90
S&P BSE Sensex has a pivot at 21986 with first level of support and resistance at 21897 and 22144 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
25-Mar-2014 21650 21739 21897 21986 22144 22233 22391 -
24-Mar-2014 21674 21700 21728 21753 21781 21807 21834 22055.48
22-Mar-2014 21559 21644 21699 21785 21839 21925 21979 21755.32
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