DStreet to continue the record ride for sixth straight day. Rupee also resumes the early rally against Dollar.

1. D-Street continues record ride; Nifty surpasses 6750
Market Snapshot | 02-04-2014 04:22 PM
Recommencing the euphoric ride of record highs for the sixth straight day, Indian indices opened gap up at record
levels. Both frontline gauges marked all-time highs at 22592.10 and 6763.5 as optimistic global cues weighed. Sensex
surpassed 22500 for the first time and neared 22600 on the back of rally in Rupee to 8-month high against Dollar in
spot market. Boisterous benchmarks climbed 0.47% at the close with Sensex soaring over a ton. Among BSE
sectorials, Realty was the top gainer.
On global front, US markets zoomed with S&P 500 closing at a record high on positive manufacturing data and
better-than-expected car sales data. Tracking the positive cues from Wall-Street, Asian and European indices too
edged higher.
Back home, on currency front, Rupee resumed the early rally against Dollar after a pause as the domestic currency
spiked to 8 months high in spot trades. INR hit an intra-day high of 59.59/USD and an intra-day low of 59.85/USD. In
futures trades, INR hit an intra-day high of 59.95/USD and an intra-day low of 60.18/USD. As per RBI reference rate,
INR stood at 59.64/USD. (Read More)
On macro-economic front, flagging a green signal for the entry of new contenders in commercial banking industry,
the Election Commission (EC) nodded for issuing new banking licenses. EC asked Reserve Bank of India (RBI) to take
appropriate actions for issuing new banking licenses to the aspirants. In this regard, RBI's governor clarified that the
granting of new bank licenses was not linked to politics and that the process was 'purely economic and regulatory'.
Consequent to this, the aspirants of banking license-IDFC, IFCI, L&T Finance Holdings, LIC Housing Finance,
Reliance Capital and Shriram Transport Finance soared 1-4% on BSE. (What’s Hot)
On stock-specific front, Reliance Industries gained 1.7% to mark new 52 week high at Rs 959.8 on BSE after
Canada's leading financier and insurer Export Development Canada (EDC) decided to provide $500 million financing
citing the increasing business of RIL with Canadian companies. (Read More)
SpiceJet zoomed 20% on BSE on offers of attractive base fares starting at Re 1 for travel between July 1 2014 and
March 28, 2015. The offer can be availed between April 1, 2014 and April 3, 2014. Directorate General of Civil Aviation
(DGCA) objected for the offer on certain grounds, which was reasonable replied by the company. (Read More)
Telecom bellwether, Bharti Airtel climbed 3.35% on BSE after the brokerage firm CLSA gave a ‘buy’ rating to the
stock with a target price of Rs 390 per share.
Axis Bank ended 0.2% down on BSE on getting a notice from RBI for crossing the overall foreign investment limit of
49% of its paid-up capital. Hence, FIIs will not allowed any further purchases of shares of this bank through stock
exchanges in India. (Read More)
Aurobindo Pharmaceuticals rallied 4.5% to hit a lifetime high of Rs 569.6 on BSE on completing the acquisition of
certain commercial operations in Western Europe from Actavis plc. (Read More)
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1954 and 943 respectively,
while 146 scrips remained unmoved.
The S&P BSE Sensex ended at 22551.49, up 105.05 points or 0.47%. The 30 share index touched a high and a low
of 22592.10 and 22473.46 respectively. 19 stocks advanced against 11 declining ones on the benchmark index.
The CNX Nifty gained 31.50 points or 0.47% to settle at 6752.55. The index touched high and low of 6763.50 and
6723.60 respectively. 33 stocks advanced against 17 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 7198.92 and gained 1.59% while S&P BSE Small-cap index jumped up by
1.60% to 7220.36.
The broader S&P BSE 500 index increased to 8372.64 (up 0.76%) and CNX 500 index rose to 5272.40 (up 0.76%).
The volatility as denoted by INDIA VIX gained 2.51% at 21.21 from its previous close of 20.69 on Tuesday.

2. Sectors in action
On the BSE Sectorial front, Real Estate (up 1.89%), Healthcare (up 1.57%) and Oil & Gas (up 1.43%) were the top
gainers.
FMCG (down 1.50%) and Metals (down 0.50%) were the top losers.
The Angels and the Devils
Bharti Airtel Ltd (up 3.34%), Tata Motors Ltd (up 2.62%), State Bank of India (up 2.06%), Cipla Ltd (up 2.00%) and Oil
and Natural Gas Corporation Ltd (up 1.96%) were the top gainers on the Sensex.
ITC Ltd (down 2.31%), Hindalco Industries Ltd (down 1.45%), Sesa Sterlite Ltd (down 1.41%), HDFC Bank (down
1.02%) and Hindustan Unilever Ltd (down 0.99%) were the top losers on the Sensex.
Benchmark Drivers
ITC Ltd (-52.52 points), Reliance Industries Ltd (32.57 points), ICICI Bank (25.11 points), Larsen And Toubro Ltd
(22.82 points) and Tata Motors Ltd (21.77 points) were the major Sensex drivers today.
On the other end ITC Ltd (-12.67 points), Reliance Industries Ltd (8.32 points), ICICI Bank (6.62 points), Tata Motors
Ltd (5.84 points) and Larsen And Toubro Ltd (5.35 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6747 for next session. The next support is at 6730 and on upside it has a resistance at
6770 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
03-Apr-2014 6690 6707 6730 6747 6770 6786 6809 -
02-Apr-2014 6630 6653 6687 6710 6744 6766 6801 6752.55
01-Apr-2014 6600 6631 6668 6699 6735 6767 6803 6721.05
S&P BSE Sensex has a pivot at 22539 with first level of support and resistance at 22486 and 22605 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
03-Apr-2014 22367 22420 22486 22539 22605 22658 22723 -
02-Apr-2014 22143 22219 22333 22409 22523 22599 22713 22551.49
01-Apr-2014 22058 22156 22271 22369 22484 22583 22698 22446.44
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