Bears ride on Akhilesh remarks; markets end in red for seventh straight session

1. Bears ride on Akhilesh remarks; markets end in red for seventh straight
session
Market Summary
25-Mar-2013
Following a positive start tracking global cues, Indian equity indices gave up the intraday gains and closed in red for
seventh consecutive session on domestic political worries. The sentiments turned bearish after media reports
suggested that Samajwadi Party may withdraw support from ruling United Progressive Alliance (UPA) government. Key
benchmarks Nifty and Sensex ended down about 0.3% each.
Public Sector Oil marketing companies like Bharat Petroleum Corporation Ltd (BPCL), Oil and Natural Gas Corporation
Ltd (ONGC) and Oil India Ltd spurted 2.03%, 2.96% and 4.16% respectively on BSE on hike in Diesel retail price by
45 paise w.e.f. Saturday. Government will also provide additional subsidy of Rs 25000 crore to state owned fuel retail
companies. CNX Energy ended 0.56% up on the news. (News)
Deutsche Bank has downgraded major automobile companies like Hero Moto Corp (down 2.42%), Bajaj Auto (down
1.13%) and TVS Motor (down 1.08%) by cutting their target prices from Rs 1500 to 1450, from Rs 2150 to Rs 1850
and from Rs 40 to Rs 37 respectively.
Goldman Sachs lowered target price of Nestle India from Rs 4041 to Rs 3952 and continued a “sell” rating for it. The
stock closed 1.71% down on BSE.
Godrej Properties jumped 1.86% on BSE after getting approval for sub division of equity shares by Board. (News)
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1066 and 1920
respectively, while 128 scrips remained unmoved.
The S&P BSE Sensex ended at 18681.42, down 54.18 points or 0.29%. The 30 share index touched a high and a
low of 18950.22 and 18654.61 respectively. 9 stocks advanced against 20 declining ones on the benchmark index.
The CNX Nifty lost 17.50 points or 0.31% to settle at 5633.85. The index touched high and low of 5718.40 and
5624.40 respectively. 21 stocks advanced against 29 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 6060.15 and lost 0.32% while S&P BSE Small-cap index hammered
down by 0.80% to 5726.91.
The broader S&P BSE 500 index decreased to 7010.02 (down 0.31%) and CNX 500 index declined to 4390.30 (down
0.32%).
The volatility as denoted by INDIA VIX gained 5.28% at 16.36 from its previous close of 15.54 on Friday.
Sectors in action
On the BSE Sectorial front, Real Estate (up 0.79%), Power (up 0.56%) and Oil & Gas (up 0.49%) were the top
gainers.
Capital Goods (down 1.44%), Automobile (down 0.78%) and Metals (down 0.71%) were the top losers.
The Angels and the Devils
Oil and Natural Gas Corporation Ltd (up 2.96%), NTPC Ltd (up 2.04%), Housing Development Finance Corporation
Ltd (up 1.16%), Dr. Reddys Laboratories Ltd (up 0.77%) and Hindustan Unilever Ltd (up 0.72%) were the top gainers
on the Sensex.
Hero MotoCorp Ltd (down 2.42%), Tata Steel Ltd (down 2.28%), Larsen And Toubro Ltd (down 2.19%), Bharti Airtel
Ltd (down 1.95%) and GAIL (India) Ltd (down 1.94%) were the top losers on the Sensex.
Benchmark Drivers
ICICI Bank (-21.20 points), Larsen And Toubro Ltd (-20.19 points), ITC Ltd (-19.36 points), Oil and Natural Gas
Corporation Ltd (17.82 points) and Housing Development Finance Corporation Ltd (16.03 points) were the major

2. Corporation Ltd (17.82 points) and Housing Development Finance Corporation Ltd (16.03 points) were the major
Sensex drivers today.
On the other end ICICI Bank (-5.45 points), Larsen And Toubro Ltd (-5.43 points), ITC Ltd (-5.29 points), Housing
Development Finance Corporation Ltd (4.30 points) and Oil and Natural Gas Corporation Ltd (4.26 points) were the
major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5659 for next session. The next support is at 5599 and on upside it has a resistance at
5693 levels.
CNX Nifty
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
26-Mar-2013 5505 5565 5599 5659 5693 5753 5787 -
25-Mar-2013 5565 5599 5625 5658 5685 5718 5744 5633.85
22-Mar-2013 5509 5578 5619 5688 5728 5798 5838 5651.35
S&P BSE Sensex has a pivot at 18762 with first level of support and resistance at 18574 and 18870 respectively.
S&P BSE Sensex
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
26-Mar-2013 18278 18466 18574 18762 18870 19058 19165 -
25-Mar-2013 18459 18564 18650 18755 18841 18945 19031 18681.42
22-Mar-2013 18347 18552 18672 18877 18998 19203 19324 18735.60
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