Indian stock markets opened higher after the RBI cut rates to boost liquidity, but later pared some gains due to profit-taking in metal stocks. The benchmarks ended with modest gains, with the Sensex up 0.44% at 19,983 points. Rate-sensitive sectors rose on the liquidity measures, while telecom stocks jumped after the DoT reduced proposed fees on telecom operators. Overall, market breadth was positive with more advancing stocks than declining.

1. Benchmarks secure modest gains as RBI induces liquidity boost
Market Summary
08-Oct-2013
Indian indices started euphorically on RBI’s move to ease liquidity with Sensex above 20K. Subsequently, choppy
benchmarks erased some gains on profit booking in metal stocks. Markets ended with modest gains with Sensex at
19950. Among BSE sectorials, rate sensitives edged higher on MSF cut.
On global front, US markets slipped with the S&P 500 index closing at a four week low amid concerns coming U.S.
debt ceiling deadline. Asian indices entered green zone after a sluggish start whereas European indices were dipped
in red.
Back home, citing some strength in domestic currency RBI took a surprise move to inject liquidity in the economy. The
central bank has slashed marginal standing facility (MSF) rate by a further 50 basis points from 9.5% to 9.0% with
immediate effect. Further, RBI also introduced variable rate auctions of 7-day and 14-day term repos on every Friday
beginning October 11, 2013 to ease liquidity concerns. (Read More)
Telecom stocks jumped after Department of Telecommunications (DoT) slashed the proposed one time charge to Rs
1989 crore from Rs 2764 crore. Earlier, leading telecom companies have challenged the levy in court imposed by the
government as one-time fee on telecom operators both prospectively and retrospectively for the airwaves they
currently hold. (What’s Hot)
IVRCL rallied 10% on BSE as company’s water division has bagged orders worth Rs 1423 crore. (Read More)
Videocon industries jumped 2.45% on BSE as the company is reportedly looking to divest 26% stake in its telecom arm
for which it is in talks with one European and two US companies. The deal is expected to fetch around Rs 15,000
crore. (Read More)
Larsen & Toubro spiked 2.38% on BSE after the company’s subsidiary L&T Construction bagged new orders worth Rs
1,605 crore across various business segments. (Read More)
Force Motors has reported 40.63% rise in Q2 net at Rs 26.93 crore as compared to Rs 19.15 crore for the same
quarter in the previous year.
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1316 and 1164 respectively,
while 165 scrips remained unmoved.
The S&P BSE Sensex ended at 19983.61, up 88.51 points or 0.44%. The 30 share index touched a high and a low of
20150.27 and 19936.72 respectively. 13 stocks advanced against 16 declining ones on the benchmark index.
The CNX Nifty gained 22.25 points or 0.38% to settle at 5928.40. The index touched high and low of 5981.70 and
5913.00 respectively. 25 stocks advanced against 23 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 5768.05 and gained 0.19% while S&P BSE Small-cap index jumped up by
0.53% to 5621.34.
The broader S&P BSE 500 index increased to 7238.35 (up 0.30%) and CNX 500 index rose to 4536.45 (up 0.30%).
The volatility as denoted by INDIA VIX lost 1.04% at 26.55 from its previous close of 26.83 on Monday.
Sectors in action
On the BSE Sectorial front, Real Estate (up 1.57%), Capital Goods (up 1.32%) and FMCG (up 0.78%) were the top
gainers.
Metals (down 0.80%) and Information Technology (down 0.25%) were the top losers.
The Angels and the Devils
Tata Power Company Ltd (up 2.87%), Bharti Airtel Ltd (up 2.77%), Larsen And Toubro Ltd (up 2.38%), ICICI Bank (up
2.26%) and ITC Ltd (up 2.24%) were the top gainers on the Sensex.

2. Hindalco Industries Ltd (down 1.77%), State Bank of India (down 1.29%), Tata Steel Ltd (down 1.22%), Coal India Ltd
(down 1.18%) and Sesa Sterlite Ltd (down 1.11%) were the top losers on the Sensex.
Benchmark Drivers
ITC Ltd (50.02 points), ICICI Bank (28.50 points), Larsen And Toubro Ltd (19.06 points), Bharti Airtel Ltd (14.90 points)
and Tata Consultancy Services Ltd (-14.46 points) were the major Sensex drivers today.
On the other end ITC Ltd (12.61 points), ICICI Bank (7.24 points), Tata Consultancy Services Ltd (-4.99 points),
Larsen And Toubro Ltd (4.80 points) and Bharti Airtel Ltd (3.71 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5941 for next session. The next support is at 5900 and on upside it has a resistance at
5969 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
09-Oct-2013 5832 5872 5900 5941 5969 6010 6038 -
08-Oct-2013 5765 5795 5851 5881 5937 5967 6023 5928.40
07-Oct-2013 5813 5849 5878 5914 5944 5980 6009 5906.15
S&P BSE Sensex has a pivot at 20024 with first level of support and resistance at 19897 and 20110 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
09-Oct-2013 19683 19810 19897 20024 20110 20237 20324 -
08-Oct-2013 19448 19548 19722 19821 19995 20095 20269 19983.61
07-Oct-2013 19597 19715 19815 19934 20034 20153 20253 19895.10
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