- The Indian markets opened lower due to weak Asian cues but recovered to close flat, with the Nifty ending at 7904.75. - Key factors influencing the market were the Supreme Court's ruling on illegal coal block allocations from 1993-2010 and weaker Asian/European markets. - Certain sectors such as healthcare and FMCG gained while power and capital goods declined. Select companies such as Hindalco and Tata Steel rose while ONGC and Larsen fell.

1. Markets recover from losses to end flat; Nifty @7905
Market Snapshot | 26-08-2014 06:26 PM
Snapping the record making spree, Indian indices plunged at open with Nifty at 7875. Bulls attempted revival but failed
to retain their hold amidst weak Asian cues. Additionally, Supreme Court’s declaration on coal block allocation too
weighed on the sentiments. In late trades, benchmarks recovered from day’s low to settle flat.
Among the global counterparts, US markets mounted higher with the S&P 500 climbing to a record close on hopes
from European Central Bank to boost liquidity. However, most of the Asian and European markets were trading lower.
Back home, on currency turf, Rupee appreciated against Dollar amidst the strengthened Asian currencies against the
greenback on hopes of ECB infusing liquidity. In future trades, Rupee marked an intraday high and low of Rs 60.46
and Rs 60.59 per USD respectively.
Among major macro-economic developments, in a nasty surprise, Supreme Court declared coal mines allocated
between the year 1993 and 2010 as illegal and arbitrary. The apex court has considered it as an unfair distribution of
the national wealth as no fair and transparent procedure was followed while making allocation. Metal stocks suffered a
cut of up to 6%.
Muthoot Finance spiked 1% on BSE on acquiring 30% stake or 167785600 shares in Sri Lanka-based Asia Asset
Finance for $2.1 million.
Shree Cement ended 0.81% up on BSE on receiving an approval to acquire 1.50 MTPA cement grinding unit of
Jaiprakash Associates situated at Panipat for Rs 360 crore.
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1212 and 1884
respectively, while 130 scrips remained unmoved.
The S&P BSE Sensex ended at 26442.81, up 5.79 points or 0.02%. The 30 share index touched a high and a low of
26481.97 and 26314.89 respectively. 15 stocks advanced against 15 declining ones on the benchmark index.
The CNX Nifty lost 1.55 points or 0.02% to settle at 7904.75. The index touched high and low of 7915.45 and 7862.45
respectively. 23 stocks advanced against 26 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 9258.82 and lost 0.24% while S&P BSE Small-cap index hammered
down by 0.80% to 10173.38.
The broader S&P BSE 500 index decreased to 10044.31 (down 0.07%) and CNX 500 index declined to 6328.45 (down
0.06%).
The volatility as denoted by INDIA VIX gained 0.80% at 13.90 from its previous close of 13.79 on Monday.
Sectors in action
On the BSE Sectorial front, Healthcare (up 1.12%), FMCG (up 0.90%) and Metals (up 0.75%) were the top gainers.
Power (down 1.32%), Capital Goods (down 0.84%) and Oil & Gas (down 0.70%) were the top losers.
The Angels and the Devils
Hindalco Industries Ltd (up 3.64%), Tata Steel Ltd (up 2.57%), GAIL (India) Ltd (up 1.49%), Hindustan Unilever Ltd (up
1.40%) and Sun Pharmaceutical Industries Ltd (up 1.35%) were the top gainers on the Sensex.
Tata Power Company Ltd (down 2.77%), Oil and Natural Gas Corporation Ltd (down 2.48%), Larsen And Toubro Ltd
(down 1.33%), Maruti Suzuki India Ltd (down 0.96%) and Wipro Ltd (down 0.78%) were the top losers on the Sensex.
Benchmark Drivers
Oil and Natural Gas Corporation Ltd (-20.96 points), Larsen And Toubro Ltd (-19.49 points), ITC Ltd (16.33 points),
Hindustan Unilever Ltd (12.50 points) and Sun Pharmaceutical Industries Ltd (10.96 points) were the major Sensex
drivers today.

2. On the other end Oil and Natural Gas Corporation Ltd (-5.33 points), Larsen And Toubro Ltd (-5.15 points), ITC Ltd
(5.09 points), Hindustan Unilever Ltd (3.34 points) and Sun Pharmaceutical Industries Ltd (2.74 points) were the major
Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7894 for next session. The next support is at 7873 and on upside it has a resistance at
7926 levels.
CCNNXX NNiiffttyy
EEffff.. DDaattee SS 33 SS 22 SS 11 PPIIVVOOTT RR 11 RR 22 RR 33 AAccttuuaall CClloossee
27-Aug-2014 7820 7841 7873 7894 7926 7947 7979 -
26-Aug-2014 7810 7854 7880 7924 7950 7994 8021 7904.75
25-Aug-2014 7870 7885 7899 7914 7928 7943 7957 7906.30
S&P BSE Sensex has a pivot at 26413 with first level of support and resistance at 26344 and 26512 respectively.
SS&&PP BBSSEE SSeennsseexx
EEffff.. DDaattee SS 33 SS 22 SS 11 PPIIVVOOTT RR 11 RR 22 RR 33 AAccttuuaall CClloossee
27-Aug-2014 26177 26246 26344 26413 26512 26580 26679 -
26-Aug-2014 26120 26261 26349 26490 26578 26719 26807 26442.81
25-Aug-2014 26241 26312 26366 26437 26491 26562 26616 26437.02
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