Indian stock indices reached record highs as the Sensex surpassed 26,000 for the first time, driven by gains in information technology and other sectors, while railway stocks rose ahead of the budget announcement. The rupee weakened against the dollar due to a U.S. market holiday, and gold prices fell as global equities reached new highs on strong economic data. Overall, the Sensex closed at a new record high of 26,100 points, up 0.53% on the day.

1. Sensex mounts 26100 in first session of budget week
Market Snapshot | 07-07-2014 04:20 PM
Indian indices made a blistering start in the budget week with Sensex surpassing 26K milestone for the first time in
history. Both barometer gauges climbed higher to flag new record highs at 26123 and 7792. The optimism persisted as
Brent crude slipped to 3 week low after Libya indicated to resume exports from two ports that have been closed for
nearly a year. Markets settled at new record closing high with Sensex at 26100 and Nifty at 7787. On BSE sectorial
front, IT topped the charts.
Among global peers, US markets remained closed on account of Independence Day. Asian and European markets
traded mostly lower amid persistent Ukraine worries.
Back home, on currency front, Rupee weakened against Dollar amidst lack of dollar supplies due to the U.S. market
holiday. In futures trades, INR hit an intra-day high of 60.04/USD and an intra-day low of 60.28/USD. In spot trades,
INR hit an intra-day high of 59.78/USD and an intra-day low of 60.03/USD. As per RBI reference rates, INR stood at
59.94/USD.
On commodities front, the yellow metal was trading half percent down on global equities touching record highs on
strong economic data. In futures trades of August expiry, Gold marked intra-day high at Rs 27511 per 10 grams and an
intra-day low at Rs 27382 per 10 grams.
On stock specific front, railway stocks geared up to 5% ahead of the announcement of railway budget 2014-15
tomorrow. The budget to be presented by Railway minister Sadananda Gowda is likely to focus on modernization and
making new strategies to attract private investment.
IDFC ltd rallied 6.2% on BSE after global rating agency Morgan Stanley upgraded the stock to overweight with a target
price of Rs 175 per share.
Adani Ports and Special Economic Zone Ltd spiked 2% to hit new 52 week high at 282.5 on BSE as the company is
set to form 50-50 JV with France's CMA CGM Group.
Ashok Leyland Ltd jumped 2.7% on BSE on raising Rs 666.7 crore via QIP and will issue 18.5 crore shares to QIBs at
Rs 36 per share.
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1788 and 1428 respectively,
while 117 scrips remained unmoved.
The S&P BSE Sensex ended at 26100.08, up 138.02 points or 0.53%. The 30 share index touched a high and a low
of 26123.55 and 25992.73 respectively. 21 stocks advanced against 9 declining ones on the benchmark index.
The CNX Nifty gained 35.55 points or 0.46% to settle at 7787.15. The index touched high and low of 7792.00 and
7755.10 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 up to 9557.14 and gained 0.12% while S&P BSE Small-cap index jumped up by
0.60% to 10570.78.
The broader S&P BSE 500 index increased to 10023.56 (up 0.36%) and CNX 500 index rose to 6322.00 (up 0.39%).
The volatility as denoted by INDIA VIX gained 6.88% at 19.41 from its previous close of 18.16 on Friday.
Sectors in action
On the BSE Sectorial front, Information Technology (up 2.63%), Power (up 1.12%) and Healthcare (up 0.80%) were
the top gainers.
Banks (down 1.21%), Oil & Gas (down 0.91%) and Real Estate (down 0.14%) were the top losers.
The Angels and the Devils
Tata Power Company Ltd (up 3.59%), Infosys Ltd (up 3.23%), Tata Consultancy Services Ltd (up 3.06%), Tata Motors
Ltd (up 2.20%) and Dr. Reddys Laboratories Ltd (up 1.95%) were the top gainers on the Sensex.

2. HDFC Bank (down 1.90%), Oil and Natural Gas Corporation Ltd (down 1.60%), GAIL (India) Ltd (down 1.08%), ICICI
Bank (down 0.79%) and Axis Bank (down 0.62%) were the top losers on the Sensex.
Benchmark Drivers
Infosys Ltd (59.22 points), Tata Consultancy Services Ltd (50.24 points), HDFC Bank (-36.29 points), Tata Motors Ltd
(21.25 points) and ICICI Bank (-15.41 points) were the major Sensex drivers today.
On the other end Infosys Ltd (14.57 points), Tata Consultancy Services Ltd (13.76 points), HDFC Bank (-9.33 points),
Tata Motors Ltd (5.02 points) and ICICI Bank (-3.98 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7778 for next session. The next support is at 7764 and on upside it has a resistance at
7801 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
08-Jul-2014 7727 7741 7764 7778 7801 7815 7838 -
07-Jul-2014 7593 7627 7689 7724 7786 7820 7883 7787.15
04-Jul-2014 7648 7678 7696 7725 7744 7773 7792 7751.60
S&P BSE Sensex has a pivot at 26072 with first level of support and resistance at 26021 and 26152 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
08-Jul-2014 25890 25941 26021 26072 26152 26203 26282 -
07-Jul-2014 25432 25545 25754 25868 26076 26190 26398 26100.08
04-Jul-2014 25540 25667 25745 25872 25951 26078 26156 25962.06
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