Carnage again on D-street on Eurozone concerns. Sensex crashes by over 300 points amid railway stocks heavy fall. Midcaps continue to plunge

1. Eurozone concerns derail Indian indices; Sensex crashes by over 300
points amid railway stocks heavy fall
Market Summary
26-Feb-2013
Markets opened below the previous close and stretched the fall as the session progressed on concerns that Italy
election results can potentially accentuate the eurozone’s debt woes. The key Indian benchmarks Nifty as well as
Sensex were thrashed by over 1.6% each. Sensex crashed by over 300 points barely managing to close above 19K.
Railway Minister Pawan Kumar Bansal’s maiden could not prevent the fall of railway related stocks. Oil & Gas sector
suffered the most as the index slipped more than 3%.
Globally, U.S., Asian and European markets are all showing the signs of weakness and are tumbling heavily.
Back home, the key highlights of Railway Budget 2013-14 are:
• Increased focus on safety & cleanliness.
• Introduction of 67 new Express Trains, 26 Passenger trains, 8 DEMUs, 5 MEMUs.
• No fare hikes.
• Free Wi-Fi in selected trains.
• Loss increased to Rs 24600 crore in 2012-13 vs Rs 22,500 crore in 2011-12.
• Gross traffic receipts at Rs 1.26 lakh crore in 2013-14.
• Estimation of Rs 42000 crore from passenger earnings.
• 8 New women Railway Protection Force (RPF) companies for Women’s safety.
• Target of 500 km for new railway line, 750 km doubling, 1200 KM electrification and 450 kms of meter gauge to
broad guage conversion.
• Indian Railways Institute of Financial Management (IRIFM) to be set up at Secunderabad for Officers training in
railway finance.
Railway Stocks like Hind rectifiers (down 8.82%), Kalindee Rail (down 11.62%), Kernex Microsystems (down 15.13%),
Stone India (down 16.21%), Texmaco Rail & Engineering (down 11.36%), Titagarh Wagons (down 8.14%) dropped
heavily after the budget. (What’s Hot)
Indian Railways inked MOU (Memorandum of Understanding) with Bharat Heavy Electricals (BHEL) for introducing
latest Mainline Electric Multiple Unit (MEMU) coach factory. The BHEL stock closed 2.63% down on BSE.
Midcaps continued the fall for second consecutive day and plunged more than a ton. Educomp Solutions (down
11.47%) was the top loser whereas ABG Shipyard recovered 8.42% after the steep decline yesterday. Some stocks
like Jet Airways (down 11.12%), Welspun Corp (down 8.11%) and DB Reality (down7.62%) continued the downfall.
Bharti Airtel and IDEA jumped 1.38% and 3.69% respectively on BSE after the companies decided not to participate in
spectrum auction.
Investment by FII’s in Maruti Suzuki’s has crossed overall limit 24% of its paid up capital, due to which further FII
investment would not be allowed in the stock. The stock closed 2.52% down on BSE.
Suzlon closed 4.27% down on BSE despite of receiving order from Oil & Natural Gas Corporation (ONGC) for 102.9
MW project. (News)
Ranbaxy reported 77% rise in its Q4 Net at Net Loss of Rs 616.09 crore. The stock closed 3.66% down on BSE.
(Featured Result)
The market breadth on the BSE closed in negative. Advancing and declining stocks were 803 and 2107 respectively,
while 124 scrips remained unmoved.
The BSE Sensex ended at 19015.14, down 316.55 points or 1.64%. The 30 share index touched a high and a low of
19293.49 and 18976.94 respectively. 5 stocks advanced against 25 declining ones on the benchmark index.
The S&P CNX Nifty lost 93.40 points or 1.60% to settle at 5761.35. The index touched high and low of 5838.85 and
5748.60 respectively. 8 stocks advanced against 42 declining ones on the index.
Sensex Nifty

2. The BSE Mid-cap index moved down to 6414.32 and lost 1.76% while Small-cap index hammered down by 2.43% to
6318.36.
The broader BSE 500 index decreased to 7248.08 (down 1.60%) and S&P CNX 500 index declined to 4537.10 (down
1.62%).
The volatility as denoted by INDIA VIX gained 3.77% at 17.36 from its previous close of 16.73 on Monday.
Sectors in action
On the BSE Sectorial front, Information Technology (up 0.89%) was the top gainer.
Oil & Gas (down 3.07%), Automobile (down 2.76%) and Capital Goods (down 2.44%) were the top losers.
The Angels and the Devils
Tata Consultancy Services Ltd (up 1.56%), Infosys Ltd (up 1.47%), Bharti Airtel Ltd (up 1.38%), NTPC Ltd (up 0.73%)
and Hindustan Unilever Ltd (up 0.22%) were the top gainers on the Sensex.
Hindalco Industries Ltd (down 4.49%), Bajaj Auto Ltd (down 4.20%), Housing Development Finance Corporation Ltd
(down 3.74%), Oil and Natural Gas Corporation Ltd (down 3.74%) and Reliance Industries Ltd (down 3.51%) were the
top losers on the Sensex.
Benchmark Drivers
Reliance Industries Ltd (-63.53 points), Housing Development Finance Corporation Ltd (-52.26 points), ICICI Bank (-
41.58 points), Infosys Ltd (24.92 points) and Oil and Natural Gas Corporation Ltd (-24.23 points) were the major
Sensex drivers today.
On the other end Reliance Industries Ltd (-15.80 points), Housing Development Finance Corporation Ltd (-11.37
points), ICICI Bank (-10.31 points), Infosys Ltd (6.57 points) and Oil and Natural Gas Corporation Ltd (-6.47 points)
were the major Nifty movers today.
Pivot, Supports and Resistance Levels
S&P CNX Nifty is now pivoted at 5783 for next session. The next support is at 5727 and on upside it has a resistance
at 5817 levels.
S&P CNX Nifty
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
27-Feb-2013 5637 5693 5727 5783 5817 5873 5908 -
26-Feb-2013 5774 5799 5827 5853 5880 5906 5934 5761.35
25-Feb-2013 5794 5815 5832 5853 5870 5891 5908 5854.75
Sensex has a pivot at 19095 with first level of support and resistance at 18897 and 19213 respectively.
Sensex
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
27-Feb-2013 18580 18779 18897 19095 19213 19412 19530 -
26-Feb-2013 19070 19154 19243 19327 19416 19500 19589 19015.14
25-Feb-2013 19159 19224 19271 19336 19383 19448 19494 19331.69
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