Benchmarks pare gains to end marginally in green

1. Benchmarks pare gains to end marginally in green
Market Snapshot | 06-05-2014 04:22 PM
Stretching yesterday’s northward journey, Indian indices touched roof at open with Sensex opening past 22500 mark.
However, benchmarks began to slide with slow pace amidst subdued trades in Asian pears. Subsequently, negative
opening of European markets weighed on the investor’s sentiments that led key equity indices to pare some of their
initial gains and settle marginally in green zone.
On BSE sectorial front, Consumer Durables rocked the show by surging over 3% in the passive market. The gains in
the sector was led by Rajesh Exports that rallied 12.2%.
Among global peers, US indices traded modestly in green zone on an upbeat report on service sector activity.
However the persistent tensions between Ukrainian armed forces and pro-Russian militants capped the gains upside.
Asian markets were trading mixed whereas European indices were dipped in red zone.
Back home, on currency front, Rupee traded strong against Dollar. In futures trades, INR hit an intra-day high of
60.28/USD and an intra-day low of 60.48/USD. In spot trades, INR hit an intra-day high of 60.04/USD and an intra-day
low of 62.04/USD. As per RBI reference rate, INR stood at 60.20/USD.
On stock specific front, Shasun pharmaceuticals spiked 10% and marked fresh 52 week high at Rs 140.25 on BSE
after acquiring the global rights from ScolrPharma, USA (Scolr) through its wholly owned subsidiary, SVADS Holdings.
The acquisition will help to develop and commercialize Ibuprofen 12 hour Extended Release OTC tablets (Asset) as
well as the associated Controlled Release Technology (CDT) along with global rights of Nuprin trademark.
Piramal Enterprises spurted 3.15% on BSE after company’s board nodded for scheme of amalgamation for merger of
the step-down wholly-owned subsidiaries - PHL Capital, Piramal Pharmaceutical Development Services and Oxygen
Bio Research, with itself. Additionally company’s board has also recommended a dividend of 2625% or Rs 52.50 per
equity share of face value of Rs 2/- for the financial year ended March 31, 2014.
Credit Analysis and Research Ltd (CARE) gained 1.62% on BSE after Reserve Bank of India nodded to hike FII
shareholding limit up to 74% of the paid up capital.
Key Quarterly Results
Realty giant, Housing Development Finance Corporation‘s Q4FY14 Net rose 10.8% at Rs 1723.10 crore as compared
to Rs 1555.21 crore for the same quarter in the previous year. On consolidated basis, company’s Net jumped 15.92%
to Rs 2414.7 crore for the quarter as compared to Rs 2083.13 crore for Q4FY13. The stock ended 1.12% down on
BSE.
United Bank of India soared 5% on BSE after recording over 15- fold jump in Q4 Net at Rs 469.37 crore as compared
to Rs 31.18 crore for the same quarter in the previous year.
Vijaya Bank registered a fall of 39.4% in Q4 Net at Rs 135.84 crore as compared to Rs 224.15 crore for the same
quarter in the previous year. The stock ended flat on BSE.
Emami Ltd slipped 1.47% on BSE despite reporting 26.38% jump in Q4 FY14 Net at Rs 115.19 crore for the quarter
ended March 31, 2014 as compared to Rs 91.14 crore for the same quarter in the previous year.
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1426 and 1412 respectively,
while 151 scrips remained unmoved.
The S&P BSE Sensex ended at 22508.42, up 63.30 points or 0.28%. The 30 share index touched a high and a low of
22602.71 and 22475.65 respectively. 14 stocks advanced against 15 declining ones on the benchmark index.
The CNX Nifty gained 15.95 points or 0.24% to settle at 6715.30. The index touched high and low of 6743.45 and
6701.90 respectively. 21 stocks advanced against 27 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 7370.69 and gained 0.31% while S&P BSE Small-cap index jumped up by
0.46% to 7532.83.
The broader S&P BSE 500 index increased to 8372.72 (up 0.22%) and CNX 500 index rose to 5273.10 (up 0.24%).

2. The volatility as denoted by INDIA VIX lost 2.69% at 33.27 from its previous close of 34.19 on Monday.
Sectors in action
On the BSE Sectorial front, Consumer Durables (up 3.22%), Oil & Gas (up 1.10%) and Capital Goods (up 0.99%)
were the top gainers.
Information Technology (down 0.51%), Power (down 0.34%) and Real Estate (down 0.05%) were the top losers.
The Angels and the Devils
Reliance Industries Ltd (up 1.91%), ICICI Bank (up 1.63%), Larsen And Toubro Ltd (up 1.24%), ITC Ltd (up 1.06%)
and Tata Motors Ltd (up 0.98%) were the top gainers on the Sensex.
Bharti Airtel Ltd (down 1.71%), Tata Power Company Ltd (down 1.27%), Wipro Ltd (down 1.19%), Housing
Development Finance Corporation Ltd (down 1.12%) and Hero MotoCorp Ltd (down 0.98%) were the top losers on the
Sensex.
Benchmark Drivers
Reliance Industries Ltd (36.90 points), ICICI Bank (27.09 points), ITC Ltd (23.37 points), Housing Development
Finance Corporation Ltd (-16.96 points) and Larsen And Toubro Ltd (15.30 points) were the major Sensex drivers
today.
On the other end Reliance Industries Ltd (8.80 points), ICICI Bank (8.02 points), ITC Ltd (5.43 points), Larsen And
Toubro Ltd (4.02 points) and Housing Development Finance Corporation Ltd (-3.96 points) were the major Nifty
movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6720 for next session. The next support is at 6697 and on upside it has a resistance at
6739 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
07-May-2014 6655 6679 6697 6720 6739 6762 6780 -
06-May-2014 6612 6646 6673 6707 6733 6768 6794 6715.30
05-May-2014 6629 6659 6677 6707 6725 6755 6773 6699.35
S&P BSE Sensex has a pivot at 22529 with first level of support and resistance at 22455 and 22582 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
07-May-2014 22328 22402 22455 22529 22582 22656 22709 -
06-May-2014 22098 22226 22336 22464 22573 22701 22811 22508.42
05-May-2014 22147 22267 22335 22455 22524 22644 22713 22445.12
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