Following a gap up start on firm global cues, markets dipped in late morning session and again took off since then to close in green with handsome gains. Positive U.S. economic data & Fed chairman Ben Bernanke’s statement evincing support to stimulus program buoyed sentiments globally including India. Additionally, sentiments got further boost after Economic Survey 2013 projected a higher growth and lower inflation for fiscal 2013-14. Nifty closed just below 5800.

1. Benchmarks rally smartly on global cues, growth optimism
Market Summary
27-Feb-2013
Following a gap up start on firm global cues, markets dipped in late morning session and again took off since then to
close in green with handsome gains. Positive U.S. economic data & Fed chairman Ben Bernanke’s statement evincing
support to stimulus program buoyed sentiments globally including India. Additionally, sentiments got further boost after
Economic Survey 2013 projected a higher growth and lower inflation for fiscal 2013-14. Nifty closed just below 5800.
Raghuram Rajan, Chief Economic Advisor presented Economic Survey 2013 in Parliament today. The highlights are:
FY14 projections - GDP growth 6.1-6.7%, Fiscal Deficit 4.8%, Current Account Deficit (CAD) 4.6%, WPI at
6.2-6.7%
FY13 - India likely to meet fiscal deficit target of 5.3% despite shortfall in tax revenues, FDI inflows plunged
by 43%, Forex Reserves steady at $295.6 billion (as on Dec’12), Services growth at 6.6%
Stressed on - need to hike Diesel & LPG prices in line with global prices to reduce subsidy bill, curb imports
specially gold and oil) to contain CAD, widening of tax base and prioritising expenditure to contain fiscal
deficit.
Tight RBI policy caused sharper than expected slowdown; rate cut already released a lot of pressure; core
inflation down on RBI stance and global price fall
Stressed on - improved access to credit at lower rates; FII flows should be targeted
Food subsidy needs priority; Food security bill may put further pressure on subsidy bill.
Easy money polcies by developed nations could fuel inflation; IIP growth may remain slow
Challenges to make India a preferred investment decision remain.
India relinquished 10% shares in global BPO market to China & Brazil in 5 years
Continuing with sharp plunging, Small-cap and Mid-cap stocks plunged in the early trades, but recovered before close.
However among Small Cap stocks, top 4 laggards named Plethico Pharmaceuticals, Rushil décor, Gravita India and
Jindal Cotex smashed around 20% each.
Among Mid-Caps, Core Education continued to be slaughtered for third consecutive day. The stock was down 46.09%
on BSE. The stock touched lowest intraday level at Rs 56.30 since April 2009. Educomp (down 8.32%) and Opto
Circuits (down 6.74%) also continued the downfall. Jet Airways recovered 19.27% on hopes on Etihad deal and
Spicejet gained 10.40% before close.
Most of the Railway stocks like Titagarh Wagons (down 14%), Kernex Microsystem (down 9%), Kalindee Rail Nirman
(down 11%), BEML (down 2%) Ltd touched their fresh 52 week low today at Rs 206.60, Rs 38.10, Rs 60 and Rs 235
respectively, a day after the announcement of Railway Budget. (What’s Hot)
Bharat Heavy Electrical Limited (BHEL) closed 2.15% up on BSE after receiving Gold Award under the National
Awards for e-Governance 2012-13. (News)
SBI shined 0.68% on BSE after the company sanctioned a loan to Rashtriya Ispat Nigam Ltd (RINL) worth Rs 2650
crore. (News)
Ranbaxy plunged 4.25% on BSE after it reported disappointing Dec Quarter numbers yesterday.
Key Quarterly results
Bata India registered 13% rise in December Quarter’s Net profit at Rs 50.91 crore on YoY basis. The stock closed
1.96% up on BSE. (Featured Result)
Bosch LTD reported 39% fall in Net profit of Q4 at Rs 172.05 crore. The stock closed 0.34% down on BSE. (Result)
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1468 and 1395 respectively,
while 142 scrips remained unmoved.
The BSE Sensex ended at 19152.41, up 137.27 points or 0.72%. The 30 share index touched a high and a low of
19213.02 and 18997.82 respectively. 22 stocks advanced against 8 declining ones on the benchmark index.
The S&P CNX Nifty gained 35.55 points or 0.62% to settle at 5796.90. The index touched high and low of 5818.20
and 5749.70 respectively. 33 stocks advanced against 17 declining ones on the index.

2. Sensex Nifty
The BSE Mid-cap index moved up to 6461.73 and gained 0.74% while Small-cap index jumped up by 0.20% to
6331.05.
The broader BSE 500 index increased to 7300.19 (up 0.72%) and S&P CNX 500 index rose to 4568.20 (up 0.69%).
The volatility as denoted by INDIA VIX lost 6.51% at 16.23 from its previous close of 17.36 on Tuesday.
Sectors in action
On the BSE Sectorial front, Capital Goods (up 2.41%), Real Estate (up 2.12%) and Oil & Gas (up 1.17%) were the top
gainers.
Information Technology (down 0.96%) and Healthcare (down 0.04%) were the top losers.
The Angels and the Devils
Bharti Airtel Ltd (up 3.29%), Larsen And Toubro Ltd (up 3.16%), Mahindra and Mahindra Ltd (up 3.03%), Oil and
Natural Gas Corporation Ltd (up 2.91%) and Bajaj Auto Ltd (up 2.23%) were the top gainers on the Sensex.
GAIL (India) Ltd (down 1.72%), Infosys Ltd (down 1.56%), Tata Motors Ltd (down 1.11%), Coal India Ltd (down 1.08%)
and Hero MotoCorp Ltd (down 1.01%) were the top losers on the Sensex.
Benchmark Drivers
ITC Ltd (29.86 points), Larsen And Toubro Ltd (28.42 points), Infosys Ltd (-26.89 points), ICICI Bank (25.53 points)
and Oil and Natural Gas Corporation Ltd (18.12 points) were the major Sensex drivers today.
On the other end ICICI Bank (7.96 points), Reliance Industries Ltd (6.89 points), Larsen And Toubro Ltd (6.61 points),
Infosys Ltd (-5.62 points) and ITC Ltd (5.21 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
S&P CNX Nifty is now pivoted at 5788 for next session. The next support is at 5758 and on upside it has a resistance
at 5827 levels.
S&P CNX Nifty
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
28-Feb-2013 5690 5720 5758 5788 5827 5857 5895 -
27-Feb-2013 5637 5693 5727 5783 5817 5873 5908 5796.90
26-Feb-2013 5774 5799 5827 5853 5880 5906 5934 5761.35
Sensex has a pivot at 19121 with first level of support and resistance at 19029 and 19244 respectively.
Sensex
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
28-Feb-2013 18814 18906 19029 19121 19244 19336 19460 -
27-Feb-2013 18580 18779 18897 19095 19213 19412 19530 19152.41
26-Feb-2013 19070 19154 19243 19327 19416 19500 19589 19015.14

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