- Indian indices opened flat but rose in late morning trading, before plunging on an S&P report that it may downgrade India's credit rating if economic growth is not boosted. The markets ended in the red zone. - S&P maintained India's BBB-/A-3 sovereign rating but warned it may cut the rating to below investment grade if the new government fails to restore economic growth. - Several companies fell after reporting declines in quarterly profits, while Wockhardt rose on easing restrictions at one of its plants.

1. Choppy markets settle in red on S&P India Outlook
Following a flat start, Indian indices crept up in late morning deals with Sensex gaining 200 points. Jerky benchmarks
continued the positive trades for a while but subsequently plunged on S&P report that it may cut India rating if the new
government fail to lift the sagging economic growth. Markets finally settled in red zone with Nifty below 6200. On BSE
sectorial front, Realty was the top laggard followed by Consumer Durables.
Among global peers, US indices traded mostly in green with the Dow hitting a record closing high on solid corporate
earnings. On the flip side, European and Asian indices traded mostly in negative terrain, ahead of European Central
Bank’s policy meeting outcome and US growth data.
Back home, global rating agency, Standard & Poor's in its latest report maintained ‘BBB-/A-3’ rating on India's
sovereign and said that it may cut India's sovereign rating to below investment grade if the next government fail to
provide a convincing plan to boost the country's low economic growth and may revise country's outlook back to
"stable" if a new government restore growth.
Wockhardt rallied 6.3% on BSE after Medicines and Healthcare Products Regulatory Agency, United Kingdom
(UKMHRA) eased restrictions on manufacturing and supplying most of the products manufactured at Daman facility
and assessed to be critical to public health. (Read More)
Ashok Leyland tumbled 5% on BSE on posting a Net loss of Rs 25 crore for the September 2013 quarter as compared
to a Net profit of Rs 142.6 crore for the same quarter in the previous year. (Result)
Thermax dipped 1.3% on BSE as the a fall of 66.87% in its net profit at Rs 30.16 crore for the quarter as compared to
Rs 91.06 crore for the same quarter in the previous year. (Result)
Indraprastha Gas plunged 3% on BSE on registering 6.52% fall in September Quarter Net at Rs 92.75 crore as
compared to Rs 99.22 crore for the same quarter in the previous year. (Featured Result)
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1135 and 1422
respectively, while 155 scrips remained unmoved.
The S&P BSE Sensex ended at 20822.77, down 72.17 points or 0.35%. The 30 share index touched a high and a
low of 21142.85 and 20797.06 respectively. 12 stocks advanced against 17 declining ones on the benchmark index.
The CNX Nifty lost 27.90 points or 0.45% to settle at 6187.25. The index touched high and low of 6288.95 and
6180.80 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 6220.47 and lost 1.07% while S&P BSE Small-cap index hammered
down by 1.14% to 6030.12.
The broader S&P BSE 500 index decreased to 7578.82 (down 0.75%) and CNX 500 index declined to 4752.00 (down
0.68%).
The volatility as denoted by INDIA VIX lost 1.88% at 19.87 from its previous close of 20.25 on Wednesday.
Sectors in action
On the BSE Sectorial front, Information Technology (up 1.25%) and Metals (up 0.64%) were the top gainers.
Real Estate (down 2.62%), Consumer Durables (down 2.26%) and Banks (down 2.11%) were the top losers.
The Angels and the Devils
Tata Steel Ltd (up 3.64%), Infosys Ltd (up 1.61%), Tata Consultancy Services Ltd (up 1.41%), Bajaj Auto Ltd (up
1.12%) and Hindalco Industries Ltd (up 1.04%) were the top gainers on the Sensex.
Bharat Heavy Electricals Ltd (down 4.27%), State Bank of India (down 3.17%), Tata Motors Ltd (down 2.76%), ICICI
Bank (down 2.70%) and Tata Power Company Ltd (down 2.44%) were the top losers on the Sensex.
Benchmark Drivers
ICICI Bank (-39.37 points), Infosys Ltd (30.41 points), Reliance Industries Ltd (-26.51 points), Tata Motors Ltd (-22.48

2. ICICI Bank (-39.37 points), Infosys Ltd (30.41 points), Reliance Industries Ltd (-26.51 points), Tata Motors Ltd (-22.48
points) and State Bank of India (-20.65 points) were the major Sensex drivers today.
On the other end ICICI Bank (-9.69 points), Infosys Ltd (7.28 points), Reliance Industries Ltd (-6.54 points), Tata
Motors Ltd (-5.62 points) and Tata Consultancy Services Ltd (5.25 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6219 for next session. The next support is at 6149 and on upside it has a resistance at
6257 levels.
CNX Nifty
Eff. Date
08-Nov-2013
07-Nov-2013
06-Nov-2013
S3
6041
6132
6170
S2
6111
6170
6207
S1
6149
6193
6230
PIVOT
6219
6231
6267
R1
6257
6254
6290
R2
6327
6292
6328
R3
6365
6315
6351
Actual Close
6187.25
6215.15
S&P BSE Sensex has a pivot at 20921 with first level of support and resistance at 20699 and 21045 respectively.
S&P BSE Sensex
Eff. Date
08-Nov-2013
07-Nov-2013
06-Nov-2013
S3
20353
20638
20691
Follow us on
S2
20575
20750
20822
S1
20699
20822
20898
PIVOT
20921
20934
21028
R1
21045
21006
21105
R2
21267
21118
21235
R3
21391
21190
21312
Actual Close
20822.77
20894.94
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