The Indian stock market ended flat amid brisk voting in the third round of the national election. Key indices opened higher and hit new highs but pared some gains later on profit-taking. The Sensex closed slightly higher while the Nifty settled at yesterday's level. Adani group stocks rose on hopes that Narendra Modi would become prime minister. Piramal Enterprises also increased after announcing the sale of its Vodafone India stake.

1. Nifty ends flat amidst brisk voting in third round LS Polls
Market Snapshot | 10-04-2014 04:22 PM
Bulls stretched the ‘record ride’ at open and marked new life time highs at 22792.49 and 6819. Indian indices pared
some gains later, but continued to show strength as investors opted to buy on dips. Choppy markets settled on a flat
note after dipping thrice in red zone. Sensex succeed in closing above 22700 and Nifty settled on yesterday’s level.
Among BSE sectorial, Power was the top gainer.
On the global front, US markets shined after Fed minutes of latest policy meeting suggested that the Fed may be a
bit more cautious towards raising interest rates than markets had thought. Tracking the positive cues form Wall-Street,
Asian and European markets too extended the early gains.
Back home, on currency front, Rupee traded mute against Dollar. In futures trades, INR hit an intra-day high of
60.25/USD and an intra-day low of 60.53/USD. In spot trades, INR hit an intra-day high of 60.04/USD and an intra-day
low of 60.30/USD. As per RBI reference rates, INR stood at 60.21/USD.
Smart movers
Adani group stocks - Adani Enterprises, Adani Power and Adani Ports and Special Economic Zone zoomed 23%,
1.35% and 5.7% respectively on hopes of Narendra Modi becoming the Prime Minister of India. Modi is considered as
a well-wisher of Gujarat based Adani group. Adani Enterprises stock has rocketed nearly 170% in a period of just
seven months, since the BJP announced Narendra Modi as its Prime Minister candidate for the coming Lok Sabha
elections.
Piramal Enterprises surged 3.7% on BSE as the company has decided to divest its entire equity stake in Vodafone
India to Prime Metals, an indirect subsidiary of Vodafone Group Plc. The company has a total of 45425328 shares
(11%) of Vodafone and will offload it for Rs 8900 crore at Rs 1960 per share.
Man Industries rallied 8% on BSE on bagging order worth Rs 700 crore from domestic and international customers for
supply of large diameter pipes for Oil and Gas as well as water sector projects.
NCC climbed 9% and hit fresh 52 week high at Rs 48.9 on BSE on receiving an approval for raising of funds up to an
amount of Rs 650 crore via Rights Issue of equity shares to the existing members of the company.
A2ZMaintenance & Engineering jumped 3.25% on BSE despite reports of ace investor, Rakesh Jhunjhunwala selling
10 lakh shares of the company yesterday via an open market transaction. Jhunjhunwala sold 4 lakh shares on BSE
and 6 lakh shares on NSE at Rs 11.56 per share.
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1617 and 1296 respectively,
while 157 scrips remained unmoved.
The S&P BSE Sensex ended at 22715.33, up 12.99 points or 0.06%. The 30 share index touched a high and a low of
22792.49 and 22644.43 respectively. 16 stocks advanced against 14 declining ones on the benchmark index.
The CNX Nifty gained 0.20 points or 0.00% to settle at 6796.40. The index touched high and low of 6819.05 and
6777.30 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 up to 7331.28 and gained 0.63% while S&P BSE Small-cap index jumped up by
0.63% to 7473.88.
The broader S&P BSE 500 index increased to 8460.38 (up 0.29%) and CNX 500 index rose to 5328.40 (up 0.25%).
The volatility as denoted by INDIA VIX gained 6.73% at 28.72 from its previous close of 26.91 on Wednesday.
Sectors in action
On the BSE Sectorial front, Power (up 2.52%), Capital Goods (up 1.61%) and Real Estate (up 1.25%) were the top
gainers.
Healthcare (down 1.47%), Information Technology (down 0.80%) and FMCG (down 0.47%) were the top losers.

2. The Angels and the Devils
Tata Power Company Ltd (up 4.12%), Bharat Heavy Electricals Ltd (up 2.70%), NTPC Ltd (up 2.57%), Tata Motors
Ltd (up 2.33%) and State Bank of India (up 2.15%) were the top gainers on the Sensex.
Dr. Reddys Laboratories Ltd (down 2.72%), Sun Pharmaceutical Industries Ltd (down 1.85%), Hero MotoCorp Ltd
(down 1.70%), Infosys Ltd (down 1.43%) and ITC Ltd (down 1.42%) were the top losers on the Sensex.
Benchmark Drivers
ITC Ltd (-31.62 points), Infosys Ltd (-26.10 points), Tata Motors Ltd (20.05 points), ICICI Bank (-17.79 points) and
State Bank of India (16.46 points) were the major Sensex drivers today.
On the other end Infosys Ltd (-7.81 points), ITC Ltd (-6.83 points), Tata Motors Ltd (5.28 points), State Bank of India
(4.34 points) and ICICI Bank (-4.31 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6798 for next session. The next support is at 6776 and on upside it has a resistance at
6818 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
11-Apr-2014 6734 6756 6776 6798 6818 6839 6860 -
10-Apr-2014 6628 6666 6731 6770 6835 6874 6938 6796.40
09-Apr-2014 6580 6615 6655 6690 6730 6765 6805 6796.20
S&P BSE Sensex has a pivot at 22717 with first level of support and resistance at 22642 and 22790 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
11-Apr-2014 22494 22569 22642 22717 22790 22865 22938 -
10-Apr-2014 22115 22247 22475 22607 22835 22968 23195 22715.33
09-Apr-2014 21916 22057 22200 22341 22484 22625 22768 22702.34
Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.