- Indian equity indices opened higher but turned negative for the seventh straight session, despite gains in global markets. - Key factors dampening domestic sentiment included the crashes of MCX and Financial Technologies stocks after NSEL suspended most contracts, and disappointing manufacturing PMI data. - Several banks such as Bank of Baroda reported rising NPAs in their quarterly results, though some like Union Bank of India posted profit growth. - The BSE Sensex ended down 0.15% while the Nifty fell 0.25%, with real estate and oil & gas among the top losing sectors.

1. Benchmarks edged lower for seventh straight session despite firm global
cues
Market Summary
01-Aug-2013
Snapping six day losing streak, Indian equity indices opened gap up today tracking firm global cues after Fed Meet. In
late morning session, markets were lackluster as MCX and Financial Technologies crashed after National Spot
Exchange (NSEL) has suspended trading of their contracts, other than e-Series. Sentiments further dampened on
disappointing Manufacturing PMI data. Continuing the jerky trades, benchmarks ended in negative territory for the
seventh day in a row. Among BSE sectorials, Realty was the top laggard.
On global front, US markets ended with a positive bias after Federal Reserve decided to keep its bond-buying program
unchanged and hinted about prospective changes in its monetary policy. Asian and European indices also followed the
global peers and traded in positive zone.
Back home, giving another indication of languishing manufacturing operations in India, the HSBC Manufacturing PMI
slowed to 50.1 in July against 50.3 in June. This was the third consecutive monthly fall due to shrinking orders and
current economic conditions. (Read More)
Financial Technologies got smashed 64.59% and made a record low of Rs 180.35. National Spot Exchange (NSEL)
promoted by the company has suspended trading of contracts, other than e-Series contracts till further notice. It has
also decided to merge the delivery and settlement of all pending contracts and deferred the same for a period of 15
days. Consequently, the positions outstanding in the contracts will be settled by way of delivery and payment after
expiry of 15 days. MCX also tumbled 19.99% and made a new 52 week low at Rs 512.05 on BSE after the decision.
(Read More)
IRB Infrastructure tanked 25.52% on BSE after the company decided to withdraw from the Mumbai Trans Harbour Link
(MTHL) worth Rs 9,360 crore giving a reason of bad experience on some other infrastructure projects in the state.
Key Quarterly Results
Bank of Baroda (BOB) tanked 7.92% on BSE as the bank’s NPA rose to 2.99% in Q1FY14 as compared to 1.84% on
year on year basis. However, Net grew marginally by 2.55% to Rs 1167.87 crore for the quarter as compared to Rs
1138.86 crore for the same quarter in the previous year. (Featured Result)
Net profit of Union Bank of India rose 9.51% in Q1 at Rs 560.22 crore as compared to Rs 511.59 crore for the same
quarter in the previous year. The stock fell 4.96% on BSE. (Result)
Jammu & Kashmir Bank dipped 2.99% on BSE as the bank’s NPA increased to 1.67% in Q1 against 1.60% YoY.
However, Net grew 25.12% at Rs 307.92 crore for the quarter as compared to Rs 246.09 crore for the same quarter in
the previous year. (Result)
Titan Industries has a rise of 16.88% in Q1 Net at Rs 182.48 crore as compared to Rs 156.12 crore for the same
quarter in the previous year. The stock ended 1.46% down on BSE. (Result)
GlaxoSmithkline Consumer Healthcare’s Net jumped 12.53% in Q2 at Rs 119.96 crore as compared to Rs 106.60
crore for the same quarter in the previous year. The stock plunged 1.92% on BSE. (Result)
Castrol India gained 1.85% on BSE on reporting 27.04% rise in Q2FY14 Net at Rs 153.60 crore as compared to Rs
120.90 crore on year on year basis. (Result)
Adani Ports and Special Economic Zone soared 12.20% on BSE on registering 58.49% spike in Q1FY14 Net at Rs
663.15 crore as compared to Rs 418.42 crore for Q1FY13. (Result)
The market breadth on the BSE closed in negative. Advancing and declining stocks were 807 and 1477 respectively,
while 144 scrips remained unmoved.
The S&P BSE Sensex ended at 19317.19, down 28.51 points or 0.15%. The 30 share index touched a high and a
low of 19569.20 and 19170.46 respectively. 13 stocks advanced against 17 declining ones on the benchmark index.
The CNX Nifty lost 14.15 points or 0.25% to settle at 5727.85. The index touched high and low of 5808.50 and
5676.85 respectively. 17 stocks advanced against 33 declining ones on the index.

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S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 5450.60 and lost 1.67% while S&P BSE Small-cap index hammered
down by 1.20% to 5247.08.
The broader S&P BSE 500 index decreased to 6940.93 (down 0.64%) and CNX 500 index declined to 4354.00 (down
0.59%).
The volatility as denoted by INDIA VIX gained 5.54% at 19.81 from its previous close of 18.77 on Wednesday.
Sectors in action
On the BSE Sectorial front, Banks (up 1.20%) was the top gainer.
Real Estate (down 3.98%), Oil & Gas (down 2.60%) and Metals (down 1.84%) were the top losers.
The Angels and the Devils
HDFC Bank (up 3.67%), Hindustan Unilever Ltd (up 3.37%), Housing Development Finance Corporation Ltd (up
2.18%), GAIL (India) Ltd (up 1.14%) and Jindal Steel and Power Ltd (up 1.00%) were the top gainers on the Sensex.
Bharat Heavy Electricals Ltd (down 4.80%), Mahindra and Mahindra Ltd (down 4.42%), Coal India Ltd (down 3.94%),
Oil and Natural Gas Corporation Ltd (down 3.64%) and Hindalco Industries Ltd (down 3.00%) were the top losers on
the Sensex.
Benchmark Drivers
HDFC Bank (50.51 points), Reliance Industries Ltd (-44.64 points), Housing Development Finance Corporation Ltd
(30.31 points), Hindustan Unilever Ltd (26.41 points) and Mahindra and Mahindra Ltd (-21.99 points) were the major
Sensex drivers today.
On the other end HDFC Bank (12.87 points), Reliance Industries Ltd (-11.75 points), Hindustan Unilever Ltd (7.35
points), Housing Development Finance Corporation Ltd (7.33 points) and Oil and Natural Gas Corporation Ltd (-6.08
points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5738 for next session. The next support is at 5667 and on upside it has a resistance at
5799 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
02-Aug-2013 5535 5606 5667 5738 5799 5869 5930 -
01-Aug-2013 5618 5647 5694 5723 5771 5800 5847 5727.85
31-Jul-2013 5601 5674 5715 5788 5828 5902 5942 5742.00
S&P BSE Sensex has a pivot at 19352 with first level of support and resistance at 19135 and 19534 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
02-Aug-2013 18737 18954 19135 19352 19534 19751 19933 -
01-Aug-2013 18925 19026 19186 19287 19447 19547 19707 19317.19
31-Jul-2013 18883 19106 19227 19450 19571 19794 19915 19345.70