Benchmarks end in red after RBI hikes repo rate by 25 bps

1. Benchmarks end in red after RBI hikes repo rate by 25 bps
Market Snapshot | 28-01-2014 04:20 PM
After yesterday’s big crash, Indian indices started flat and continued the cautious trades in green. Markets plunged
subsequently after Reserve bank of India shocked D-Street by hiking repo rate by 0.25%. Jerky benchmarks faltered
further and ended in negative terrain. On BSE sectorial front, Teck was the top loser.
Among global peers, the US markets edged lower as Fed tapering worries continued amidst concerns of emerging
markets. Asian markets traded on a mixed note whereas European indices witnessed positive trades.
Back home, Reserve Bank of India surprised and shocked the nation by hiking repo rate to 8% from 7.75% announced
today in third quarter monetary policy review. Consequently, the reverse repo rate stood at 7% and the Marginal
Standing Facility (MSF) rate and the Bank Rate stood at 9%. However, the apex bank kept the Cash Reserve Ratio
unchanged at 4%. The rationale behind the move of rate hike is the RBI's probable shift towards policy making based
on CPI as suggested by Uijit Committee. Central bank said that if Consumer Price Inflation will ease to projected levels,
further near term tightening is not expected. (Read More)
Key Quarterly Results
Maruti Suzuki India tanked 8% on BSE despite registering 36% jump in Q3 Net at Rs 681.15 crore as compared to Rs
501.3 crore for the same quarter in the previous year. (Featured Result)
Jindal Steel & Power gained 1.9% on BSE despite reporting 30% fall in Q3FY14 Net at Rs 365.6 crore as compared to
Rs 520.47 crore for the same quarter in the previous year. On the consolidated basis, the group’s Net plunged 35.25%
to Rs 561.51 crore for the quarter as compared to Rs 867.27 crore for Q3FY13. (Result)
JSW Steel ended 1.6% up on BSE on posting a steep hike of 377% in Q3FY Net at Rs 652.15 crore as against Rs
136.73 crore in the corresponding quarter of the previous year. (Result)
IPCA Laboratories rallied 3.9% to hit fresh 52 week high at Rs 802 on BSE on registering 58.28% jump in Q3 Net at
Rs 139.12 crore as compared to Rs 87.9 crore for the same quarter in the previous year. (Result)
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1337 and 1286 respectively,
while 159 scrips remained unmoved.
The S&P BSE Sensex ended at 20683.51, down 23.94 points or 0.12%. The 30 share index touched a high and a
low of 20795.35 and 20554.28 respectively. 16 stocks advanced against 13 declining ones on the benchmark index.
The CNX Nifty lost 9.60 points or 0.16% to settle at 6126.25. The index touched high and low of 6163.60 and 6085.95
respectively. 28 stocks advanced against 22 declining ones on the index.
S&P BSE Sensex
CNX Nifty
The S&P BSE Mid-cap index moved down to 6273.12 and lost 0.01% while S&P BSE Small-cap index jumped up by
0.25% to 6290.13.
The broader S&P BSE 500 index decreased to 7521.01 (down 0.09%) and CNX 500 index declined to 4720.60 (down
0.11%).
The volatility as denoted by INDIA VIX lost 5.09% at 17.72 from its previous close of 18.67 on Monday.
Sectors in action
On the BSE Sectorial front, Metals (up 1.72%), Real Estate (up 1.08%) and FMCG (up 0.40%) were the top gainers.
Information Technology (down 1.06%), Healthcare (down 0.79%) and Banks (down 0.30%) were the top losers.
The Angels and the Devils
Tata Steel Ltd (up 3.49%), Sesa Sterlite Ltd (up 2.46%), Tata Motors Ltd (up 2.43%), Hindalco Industries Ltd (up
2.16%) and Bajaj Auto Ltd (up 1.69%) were the top gainers on the Sensex.
Maruti Suzuki India Ltd (down 8.12%), Axis Bank (down 3.28%), Sun Pharmaceutical Industries Ltd (down 2.44%),

2. Maruti Suzuki India Ltd (down 8.12%), Axis Bank (down 3.28%), Sun Pharmaceutical Industries Ltd (down 2.44%),
Infosys Ltd (down 1.49%) and Cipla Ltd (down 1.30%) were the top losers on the Sensex.
Benchmark Drivers
Infosys Ltd (-31.48 points), Maruti Suzuki India Ltd (-24.20 points), Tata Motors Ltd (17.44 points), ITC Ltd (17.40
points) and Axis Bank (-14.48 points) were the major Sensex drivers today.
On the other end Infosys Ltd (-8.08 points), Maruti Suzuki India Ltd (-5.97 points), Tata Motors Ltd (4.13 points), ITC
Ltd (3.95 points) and Sun Pharmaceutical Industries Ltd (-3.82 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6125 for next session. The next support is at 6087 and on upside it has a resistance at
6165 levels.
CNX Nifty
Eff. Date
29-Jan-2014
28-Jan-2014
27-Jan-2014
S3
6009
6056
6176
S2
6048
6093
6220
S1
6087
6115
6243
PIVOT
6125
6152
6287
R1
6165
6173
6311
R2
6203
6210
6355
R3
6242
6231
6378
Actual Close
6126.25
6135.85
S&P BSE Sensex has a pivot at 20678 with first level of support and resistance at 20560 and 20801 respectively.
S&P BSE Sensex
Eff. Date
29-Jan-2014
28-Jan-2014
27-Jan-2014
S3
20319
20420
20851
Follow us on
S2
20437
20554
20987
S1
20560
20631
21060
PIVOT
20678
20765
21197
R1
20801
20842
21270
R2
20919
20976
21407
R3
21042
21053
21480
Actual Close
20683.51
20707.45
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