The Indian stock market indices opened slightly higher but pared gains as the services sector continued to contract for the seventh straight month. The indices trimmed losses later in the day due to fresh buying and ended marginally higher. The Sensex closed 50 points higher at 20,310. Key stock-specific news included Jet Airways rallying 11% after a stake purchase approval and quarterly results from banks such as Bank of Baroda and Central Bank of India.

1. Sensex ends 50 points up on fresh buying activities
Market Snapshot | 06-02-2014 04:21 PM
Indian indices started slightly up as positive trades in Asian peers weighed. However, the domestic bourses pared their
initial gains as investors remained cautious over continuation of contraction in India’s Services sector for seventh
straight month. In late noon trades, benchmarks trimmed losses buoyed by fresh buying activities and settled
marginally in green with Sensex ending above 20300 mark. On BSE sectorial front, FMCG was the top gainer.
Among global peers, US indices traded flat whereas Asian and European indices were trading jubilantly amidst fresh
buying after recent steep losses. Japanese stocks bounced back after hitting four-month low this week.
Back home, services sector that contributes 60% to the nation’s output, has done slightly better in January than
previous month. HSBC Services Purchasing Managers’ Index (PMI), rose to 48.3 in January as compared to 46.7
recorded in December. The reading in the first month of CY14, continued to stand below 50 mark that separates
growth from contraction. The contraction for seventh straight month is due to the fall in new orders amid tough
economic conditions and political issues. (Read More)
On stock specific front, Jet Airways rallied 11% on BSE after Competition Commission of India (CCI) nodded for
purchase of 50.1% stake in Jet Privilege (JPPL) by Etihad Airways. (Read More)
Key Quarterly Results
Bank of Baroda ended marginally down despite posting 3.6% rise in Q3FY14 Net at Rs 1047.84 crore as compared to
Rs 1011.62 crore for the same quarter in the previous year. Bank’s Net NPA jumped to 1.88% as compared to 1.12%
in Q3FY13. (Featured Result)
Central Bank of India jumped 3.85% on BSE after the Bank’s Net NPA dropped to 3.69% in Q3FY14 as compared to
3.79% in the same quarter of the previous year. However, the Bank posted a steep fall of 65.8% in the Net profit at Rs
61.53 crore for the quarter as compared to Rs 179.94 crore for Q3FY13. (Result)
PSU major, Power Grid Corporation of India ended marginally in red after the company’s Q3 Net plunged 7.7% at Rs
1042.04 crore as compared to Rs 1129.06 crore for the same quarter in the previous year. (Read More)
ACC Ltd gained 1% on BSE after registering a slim rise of 3.26% in Q4FY14 Net at Rs 278.1 crore as compared to Rs
239.2 crore in the same quarter of the previous year. (Result)
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1308 and 1330
respectively, while 176 scrips remained unmoved.
The S&P BSE Sensex ended at 20310.74, up 49.71 points or 0.25%. The 30 share index touched a high and a low of
20358.19 and 20079.82 respectively. 16 stocks advanced against 14 declining ones on the benchmark index.
The CNX Nifty gained 13.90 points or 0.23% to settle at 6036.30. The index touched high and low of 6048.35 and
5965.40 respectively. 26 stocks advanced against 24 declining ones on the index.
S&P BSE Sensex
CNX Nifty
The S&P BSE Mid-cap index moved down to 6299.59 and lost 0.18% while S&P BSE Small-cap index jumped up by
0.06% to 6309.01.
The broader S&P BSE 500 index increased to 7455.30 (up 0.20%) and CNX 500 index rose to 4681.35 (up 0.20%).
The volatility as denoted by INDIA VIX gained 0.05% at 18.94 from its previous close of 18.93 on Wednesday.
Sectors in action
On the BSE Sectorial front, FMCG (up 1.36%), Consumer Durables (up 1.00%) and Metals (up 0.92%) were the top
gainers.
Real Estate (down 1.57%), Capital Goods (down 0.92%) and Banks (down 0.23%) were the top losers.

2. The Angels and the Devils
Coal India Ltd (up 4.59%), Tata Power Company Ltd (up 3.22%), Hindustan Unilever Ltd (up 2.90%), Mahindra and
Mahindra Ltd (up 2.43%) and Maruti Suzuki India Ltd (up 2.05%) were the top gainers on the Sensex.
Bharat Heavy Electricals Ltd (down 2.43%), Axis Bank (down 1.64%), Cipla Ltd (down 1.23%), Tata Consultancy
Services Ltd (down 1.18%) and State Bank of India (down 1.11%) were the top losers on the Sensex.
Benchmark Drivers
ITC Ltd (36.41 points), HDFC Bank (22.56 points), Hindustan Unilever Ltd (20.76 points), Tata Consultancy Services
Ltd (-17.62 points) and ICICI Bank (-11.45 points) were the major Sensex drivers today.
On the other end ITC Ltd (9.02 points), HDFC Bank (5.31 points), Hindustan Unilever Ltd (5.19 points), Tata
Consultancy Services Ltd (-3.26 points) and ICICI Bank (-2.75 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6017 for next session. The next support is at 5985 and on upside it has a resistance at
6068 levels.
CNX Nifty
Eff. Date
07-Feb-2014
06-Feb-2014
05-Feb-2014
S3
5902
5914
5866
S2
5934
5938
5900
S1
5985
5980
5950
PIVOT
6017
6004
5984
R1
6068
6046
6035
R2
6100
6070
6068
R3
6151
6112
6119
Actual Close
6036.30
6022.40
S&P BSE Sensex has a pivot at 20250 with first level of support and resistance at 20141 and 20419 respectively.
S&P BSE Sensex
Eff. Date
07-Feb-2014
06-Feb-2014
05-Feb-2014
S3
19863
19915
19739
Follow us on
S2
19971
19996
19851
S1
20141
20128
20032
PIVOT
20250
20209
20144
R1
20419
20342
20324
R2
20528
20422
20436
R3
20698
20555
20616
Actual Close
20310.74
20261.03
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