Nifty crosses 7650 as bulls rejoice Prez announcements

1. Nifty crosses 7650 as bulls rejoice Prez announcements
Market Snapshot | 09-06-2014 04:19 PM
The markets continued the sprinting on D-Street by spurting at open with Nifty above 7600 mark amidst firm global
cues. President, Pranab Mukherjee’s announcements of measures in Parliament too added to the triumphant
sentiments that pulled benchmarks to new highs of 25644.7 and 7673.7. Markets settled at new closing highs with
Sensex and Nifty at 25580.21 and 7654.60 respectively. On BSE sectorial front, Realty topped the charts by climbing
6%.
Among global peers, US markets exhibited robust performance with S&P 500 and Dow industrials with their
strongest weekly performances since mid-April. Additionally, Asian and European markets too climbed high tracking
upbeat US jobs data as well as positive economic data from China and Japan.
Back home, on currency front, Rupee accelerated against Dollar after President Pranab Mukherjee announced a
slew of measures while addressing Parliament. In futures trades, INR hit an intra-day high of 59.04/USD and an intra-
day low of 59.22/USD. In spot trades, INR hit an intra-day high of 58.97/USD and an intra-day low of 59.10/USD. As
per RBI reference rates, INR stood at 59.06/USD.
On commodities front, the yellow metal stepped up with China in focus after mixed trade data at the weekend. In
futures trades of August expiry, Gold marked intra-day high at Rs 25930 per 10 grams and an intra-day low at Rs
25811 per 10 grams.
On macro-economic front, India’s service sector is fast losing interest of foreign investors. Foreign Direct Investment
(FDI) in India’s services sector fell sharply by 54% to $2.22 billion in FY14 as compared to $4.83 billion in the previous
fiscal. The main reason behind the steep fall was the low foreign investment in hotel and tourism industries. However,
overall foreign inflows in the country rose 8% to $24.29 in FY14 form $22.42 billion recorded in the FY13.
On stock-specific front, Railway stocks were on a roll after President Pranab Mukherji announced diamond
quadrilateral project of high-speed trains while addressing to the Joint Session of Parliament.
Stocks of defense companies jumped after President Pranab Mukherjee announced that Government will liberalize FDI
in defense. Additionally, private investments will also be encouraged in defense production, inter alia, reforms in
defense procurement.
Telecom major, Reliance Communications gained 1.55% on BSE after being the first telecommunications service
provider in India to unveil 'one India one rate scheme' which will provide free national roaming offer for postpaid and
pre-paid GSM customers. Under this new scheme, the customer will pay one rate for Roaming, Local & STD.
Hindustan Zinc rallied 4.56% to mark fresh 52 week high at Rs 184 on BSE as Finance Ministry has initiated the
process for fresh valuation of the company with a view to push through a long-pending sale of 29.5% residual stake.
Nectar Lifesciences soared 12.33% to make new 52 week high at Rs 35 on BSE on the reports of promoters Sanjiv
Goyal and family’s planning to sell their entire stake of 44.35%in the company. However, the management has denied
any such reports development.
Prism Cement surged 8.3% to mark fresh yearly high at Rs 79.4 on BSE after Prism Trust has sold its entire holding of
12351,600 equity shares in the company. The Trust will realize around Rs 88 crore, at an average price of about Rs
71.50 per share.
Grasim Industries rallied 11.4% and marked new 52 week high at Rs 3755 on BSE after Brokerage house CLSA
underscored the company as its top conviction buy in India with a target price of Rs 4900.
Motilal Oswal Financial Services spiked 14% and hit new 52 week high at 210 on BSE after announcing the closure of
its buy back offer after trading hours today. The Company bought back 7072701 equity shares of Re 1 each fully paid.
The market breadth on the BSE closed in positive. Advancing and declining stocks were 2435 and 816 respectively,
while 89 scrips remained unmoved.
The S&P BSE Sensex ended at 25580.21, up 183.75 points or 0.72%. The 30 share index touched a high and a low
of 25644.77 and 25496.84 respectively. 24 stocks advanced against 6 declining ones on the benchmark index.
The CNX Nifty gained 71.20 points or 0.94% to settle at 7654.60. The index touched high and low of 7673.70 and
7580.25 respectively. 39 stocks advanced against 11 declining ones on the index.

2. S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 9237.15 and gained 1.52% while S&P BSE Small-cap index jumped up by
2.22% to 9991.05.
The broader S&P BSE 500 index increased to 9829.09 (up 1.17%) and CNX 500 index rose to 6196.70 (up 1.09%).
The volatility as denoted by INDIA VIX gained 7.01% at 17.10 from its previous close of 15.98 on Friday.
Sectors in action
On the BSE Sectorial front, Real Estate (up 6.01%), Capital Goods (up 2.48%) and Power (up 2.26%) were the top
gainers.
Oil & Gas (down 0.47%) was the sole loser.
The Angels and the Devils
Bajaj Auto Ltd (up 5.41%), Coal India Ltd (up 5.60%), Larsen And Toubro Ltd (up 3.75%), Tata Power Company Ltd
(up 2.62%) and Tata Steel Ltd (up 2.40%) were the top gainers on the Sensex.
Oil and Natural Gas Corporation Ltd (down 2.31%), State Bank of India (down 1.05%), Hindustan Unilever Ltd (down
0.99%), Infosys Ltd (down 0.47%) and Axis Bank (down 0.40%) were the top losers on the Sensex.
Benchmark Drivers
Larsen And Toubro Ltd (61.22 points), Oil and Natural Gas Corporation Ltd (-26.50 points), Tata Motors Ltd (25.70
points), Tata Consultancy Services Ltd (21.23 points) and Housing Development Finance Corporation Ltd (18.72
points) were the major Sensex drivers today.
On the other end Larsen And Toubro Ltd (15.29 points), Grasim Industries Ltd (7.38 points), Oil and Natural Gas
Corporation Ltd (-6.42 points), Tata Consultancy Services Ltd (5.21 points) and Power Grid Corporation of India Ltd
(5.08 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7636 for next session. The next support is at 7599 and on upside it has a resistance at
7692 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
10-Jun-2014 7505 7543 7599 7636 7692 7730 7786 -
09-Jun-2014 7428 7463 7523 7558 7618 7653 7713 7654.60
06-Jun-2014 7271 7316 7395 7440 7519 7564 7643 7583.40
S&P BSE Sensex has a pivot at 25574 with first level of support and resistance at 25503 and 25651 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
10-Jun-2014 25355 25426 25503 25574 25651 25722 25799 -
09-Jun-2014 24922 25026 25211 25315 25500 25604 25790 25580.21
06-Jun-2014 24362 24504 24762 24903 25161 25302 25560 25396.46
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