The Indian stock market had a negative day, with both the Sensex and Nifty indexes falling by around 1.3% due to profit-taking by investors and disappointing corporate earnings. Most sector indexes also ended lower, with the IT sector falling by over 3%. Key results from companies like Coal India, Hindalco, and IOC were also down significantly year-over-year. The rupee strengthened against the dollar, while gold prices fell.

1. Sensex tanks 1.3% on F&O expiry day; Nifty @7236
Market Snapshot | 29-05-2014 04:22 PM
On the F&O expiry day, Indian indices tumbled at open on profit booking by investors. Disappointing corporate
earnings coupled with reports of FII selling in past session slaughtered D-Street. Both barometer gauges crashed 1.3%
at the close with most of the BSE sectorials dipping in red. IT index topped the laggards by plummeting 3.45%.
Among global peers, US markets snapped 4-day winning streak to edge lower. Tracking the weakness, Asian and
European markets were also exhibiting mixed trades.
Back home, on currency front, Rupee extended the winning streak against Dollar on Dollar inflows. In futures trades,
INR hit an intra-day high of 58.98/USD and an intra-day low of 59.19/USD. In spot trades, INR hit an intra-day high of
58.79/USD and an intra-day low of 58.98/USD. As per RBI reference rates, INR stood at 58.84/USD.
On commodity front, Gold sank by nearly Rs 200 per 10 grams as Dollar strengthened against Euro amidst
encouraging US housing and consumer confidence data.
On stock-specific front, Syndicate Bank climbed 2.8% in the otherwise pessimistic market as the Bank has come up
with an offer to sell $500 million worth of dollar-denominated bonds to foreign investors through its London branch.
Key Quarterly Results
Coal India sank 1.77% on BSE after registering a steep cut of 72.15% in March quarter Net at Rs 646 crore as
compared to Rs 2320.6 crore in the same quarter a year ago.
Hindalco Industries gained 1.4% on BSE despite posting a big fall of 48.5% in Q4 Net at Rs 248.15 crore as compared
to Rs 482 crore on year on year basis.
PSU major, Steel Authority of India (SAIL) tumbled 3.3% on BSE after recording a marginal growth of 1.35% in March
quarter Net at Rs 452.58 crore as against Rs 446.5 crore a year ago.
Automobile bellwether, Hero MotoCorp ended marginally in red after its Q4 Net declined 3.45% in FY14 at Rs 554.43
crore against Rs 574.23 crore in the same quarter of FY13.
OMC major, Indian Oil Corporation (IOC) slipped 0.85% on BSE after posting a fall of 35.3% in Q4 Net at Rs 9389.85
crore as compared to Rs 14512.81 crore for the same quarter in the previous year.
Hindustan Petroleum Corporation Ltd (HPCL) Q4 Net dipped 40% to Rs 4609.24 crore as compared to Rs 7679.3
crore in the same quarter of the previous year. The stock ended marginally in red zone.
Bharat Petroleum Corporation Ltd ended 1% down on BSE as March quarter Net dipped 15.2% to Rs 4068.37 crore
as compared to Rs 4797.3 crore in the corresponding quarter of previous fiscal.
National Aluminium Company’s March quarter Net plunged 30% at Rs 172.45 crore as compared to Rs 246.03 crore
for the same quarter in the previous year.
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1496 and 1597
respectively, while 118 scrips remained unmoved.
The S&P BSE Sensex ended at 24234.15, down 321.94 points or 1.31%. The 30 share index touched a high and a
low of 24528.20 and 24206.50 respectively. 7 stocks advanced against 22 declining ones on the benchmark index.
The CNX Nifty lost 94.00 points or 1.28% to settle at 7235.65. The index touched high and low of 7325.40 and
7224.40 respectively. 12 stocks advanced against 38 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 8434.40 and lost 0.34% while S&P BSE Small-cap index hammered
down by 0.48% to 8985.37.
The broader S&P BSE 500 index decreased to 9199.11 (down 1.08%) and CNX 500 index declined to 5796.45 (down
1.11%).

2. The volatility as denoted by INDIA VIX lost 4.95% at 16.69 from its previous close of 17.56 on Wednesday.
Sectors in action
On the BSE Sectorial front, Healthcare (up 0.02%) was the sole gainer.
Information Technology (down 3.44%), Oil & Gas (down 1.64%) and Capital Goods (down 1.49%) were the top losers.
The Angels and the Devils
Hindalco Industries Ltd (up 1.43%), Mahindra and Mahindra Ltd (up 1.38%), Dr. Reddys Laboratories Ltd (up 1.32%),
Sun Pharmaceutical Industries Ltd (up 0.63%) and NTPC Ltd (up 0.53%) were the top gainers on the Sensex.
Infosys Ltd (down 7.81%), Oil and Natural Gas Corporation Ltd (down 2.65%), Wipro Ltd (down 2.63%), Bharat Heavy
Electricals Ltd (down 2.23%) and Cipla Ltd (down 1.80%) were the top losers on the Sensex.
Benchmark Drivers
Infosys Ltd (-140.36 points), Reliance Industries Ltd (-31.96 points), HDFC Bank (-28.61 points), Larsen And Toubro
Ltd (-25.89 points) and ICICI Bank (-24.51 points) were the major Sensex drivers today.
On the other end Infosys Ltd (-36.43 points), Reliance Industries Ltd (-8.19 points), HDFC Bank (-7.60 points), Larsen
And Toubro Ltd (-6.87 points) and ICICI Bank (-6.67 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7262 for next session. The next support is at 7198 and on upside it has a resistance at
7299 levels.
CNX NiftyCNX Nifty
Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close
30-May-2014 7097 7161 7198 7262 7299 7363 7400 -
29-May-2014 7264 7284 7307 7326 7349 7368 7391 7235.65
28-May-2014 7173 7224 7271 7322 7369 7420 7467 7329.65
S&P BSE Sensex has a pivot at 24323 with first level of support and resistance at 24118 and 24439 respectively.
S&P BSE SensexS&P BSE Sensex
Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close
30-May-2014 23796 24001 24118 24323 24439 24645 24761 -
29-May-2014 24328 24408 24482 24563 24637 24717 24791 24234.15
28-May-2014 24034 24228 24389 24583 24744 24938 25099 24556.09
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