The Indian stock market indices opened marginally higher but later hit record highs before closing in the red, snapping a 4-day winning streak. The Sensex missed hitting 26K by a small margin. BSE had to shut markets temporarily due to a network issue. Globally, US markets were mostly up while European markets traded in the green as well. The rupee weakened against the dollar. Gold prices traded mixed. The government deferred an LPG and kerosene price hike in some states. Apollo Tyres and Tata Motors gained while RCom and Jaiprakash Associates declined.

1. Sensex missed 26K by a whisker before closing in red
Market Snapshot | 03-07-2014 04:20 PM
Following a marginally higher start, Indian indices marked another record high at 25999 and 7754. However, in mid-
morning deals, BSE had shut all markets including shares, currencies and indexes due to network hitch whereas work
continued at other major exchanges. BSE resumed trades in noon session and both barometer gauges turned cautious
thereafter. Indices settled marginally down to snap 4-day winning streak. On BSE sectorial front, Realty was the top
loser.
Among global peers. US markets traded mostly in green on upbeat private sector hiring report. Additionally,
European markets too traded in green zone, however Asian indices exhibited mixed trades.
Back home, on currency front, Rupee traded weak against Dollar after yesterday’s jubilant trades. In futures trades,
INR hit an intra-day high of 59.75/USD and an intra-day low of 60.09/USD. In spot trades, INR hit an intra-day high of
59.54/USD and an intra-day low of 59.79/USD. As per RBI reference rates, INR stood at 59.97/USD.
On commodities front, the yellow metal traded mixed today. In futures trades of August expiry, Gold marked intra-day
high at Rs 27634 per 10 grams and an intra-day low at Rs 27494 per 10 grams.
On macro-economic front, Government has deferred the LPG and kerosene price hike in Karnataka, Madhya
Pradesh and Kerala citing the increase in local levies that consequently led to higher fuel prices. The hike is pending
till consultations with the state governments on state specific levies.
On stock-specific front, Apollo Tyres rallied 3.35% on make fresh 52 week high at Rs 213.7 on BSE on plans of
expanding the Truck & Bus radial tyre capacity at the Chennai plant from the present 6000 tyres per day to 8900 tyres
per day involving capex of $340 million.
Reliance Communications (RCom) plunged 1.4% on BSE as the company reportedly started process of monetizing its
real estate assets across the country in a bid to raise Rs 5000 crore to gather money to repay debts worth Rs 34000
crore.
Jaiprakash Associates tanked 4.6% on BSE on launching Qualified Institutional Placement (QIP) issue to raise up to
$250 million. The company will use amount collected to trim its debt of Rs 61100 crore.
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1329 and 1519
respectively, while 113 scrips remained unmoved.
The S&P BSE Sensex ended at 25823.75, down 17.46 points or 0.07%. The 30 share index touched a high and a
low of 25999.08 and 25793.70 respectively. 11 stocks advanced against 19 declining ones on the benchmark index.
The CNX Nifty lost 10.35 points or 0.13% to settle at 7714.80. The index touched high and low of 7754.65 and
7706.80 respectively. 18 stocks advanced against 32 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 9490.58 and lost 0.17% while S&P BSE Small-cap index hammered
down by 0.14% to 10419.38.
The broader S&P BSE 500 index decreased to 9942.65 (down 0.13%) and CNX 500 index declined to 6267.20 (down
0.15%).
The volatility as denoted by INDIA VIX gained 1.37% at 17.81 from its previous close of 17.57 on Wednesday.
Sectors in action
On the BSE Sectorial front, Healthcare (up 1.12%), Automobile (up 0.80%) and Consumer Durables (up 0.59%) were
the top gainers.
Real Estate (down 1.47%), Oil & Gas (down 1.19%) and Power (down 0.86%) were the top losers.
The Angels and the Devils
Tata Motors Ltd (up 3.03%), Wipro Ltd (up 2.58%), Sun Pharmaceutical Industries Ltd (up 1.79%), Mahindra and

2. Tata Motors Ltd (up 3.03%), Wipro Ltd (up 2.58%), Sun Pharmaceutical Industries Ltd (up 1.79%), Mahindra and
Mahindra Ltd (up 1.41%) and Tata Consultancy Services Ltd (up 0.86%) were the top gainers on the Sensex.
Hero MotoCorp Ltd (down 3.17%), Hindalco Industries Ltd (down 2.47%), Bajaj Auto Ltd (down 2.39%), Oil and
Natural Gas Corporation Ltd (down 1.99%) and Tata Power Company Ltd (down 1.88%) were the top losers on the
Sensex.
Benchmark Drivers
Tata Motors Ltd (28.48 points), Reliance Industries Ltd (-22.89 points), Oil and Natural Gas Corporation Ltd (-16.87
points), ITC Ltd (14.53 points) and Tata Consultancy Services Ltd (14.11 points) were the major Sensex drivers today.
On the other end Tata Motors Ltd (7.44 points), Reliance Industries Ltd (-6.27 points), Oil and Natural Gas Corporation
Ltd (-4.34 points), Sun Pharmaceutical Industries Ltd (3.34 points) and ITC Ltd (3.34 points) were the major Nifty
movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7725 for next session. The next support is at 7696 and on upside it has a resistance at
7744 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
04-Jul-2014 7648 7678 7696 7725 7744 7773 7792 -
03-Jul-2014 7636 7657 7691 7712 7746 7767 7801 7714.80
02-Jul-2014 7587 7603 7619 7634 7650 7665 7681 7725.15
S&P BSE Sensex has a pivot at 25872 with first level of support and resistance at 25745 and 25951 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
04-Jul-2014 25540 25667 25745 25872 25951 26078 26156 -
03-Jul-2014 25508 25584 25713 25789 25917 25993 26121 25823.75
02-Jul-2014 25360 25413 25465 25518 25570 25623 25675 25841.21
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