Markets take a breather snapping 3-day rally; Power stocks tank

1. Markets take a breather snapping 3-day rally; Power stocks tank
Market Snapshot | 10-12-2013 04:20 PM
Snapping 3-day Bull Run, Indian indices opened marginally down on profit booking from investors. Weakness in Asian
peers led the bears retain their hold on D-street and ignore the positive trades of US and European indices. In noon
trades, benchmarks plunged to touch day’s low with Sensex shedding a ton. Markets recovered some loses but ended
in red. On BSE sectorial front, Power sector topped the laggards losing over 4% after Central Electricity Regulatory
Commission (CERC) released draft regulations for power generation companies.
Among global peers, US indices traded in green zone with S&P 500 closing to record high. European indices also
traded in green whereas Asian markets traded mostly in negative terrain.
Back home, Rupee broke four consecutive sessions’ winning streak and turned southwards against Dollar on profit
booking in local equities. INR hit a low of 61.54 and a high of 61.11 per USD in futures trade. (Read More)
Power stocks viz NTPC, NHPC, SJVN (Satluj Jal Vidyut Nigam) Ltd and Torrent power tanked 11.3%, 1.4%, 2.9% and
4.8% on BSE after Central Electricity Regulatory Commission (CERC) released draft regulations for power generation
companies deciding power tariffs for FY2014-2019. (What’s Hot)
United Bank of India tanked 3% on BSE as the bank is seeking additional Rs 1000 crore from Government to meet its
capitalization requirements to improve profitability in the longer run. (Read More)
Strides Arcolab gained 1.5% on BSE in otherwise negative market as the company declared a special dividend of Rs
500 per share. (Read More)
Lupin Ltd jumped 2.3% on BSE on receiving FDA approval for generic Trizivir tablets. (Read More)
Kajaria Ceramics spurted 3.64% and hit fresh 52 week high at Rs 279.3 on BSE as RBI withdrew restrictions on FII
buying in the company after company’s FII shareholding slipped below the revised limit under the FDI Policy.
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1021 and 1500
respectively, while 175 scrips remained unmoved.
The S&P BSE Sensex ended at 21255.26, down 71.16 points or 0.33%. The 30 share index touched a high and a
low of 21327.75 and 21175.08 respectively. 15 stocks advanced against 15 declining ones on the benchmark index.
The CNX Nifty lost 31.05 points or 0.49% to settle at 6332.85. The index touched high and low of 6362.25 and
6307.55 respectively. 20 stocks advanced against 30 declining ones on the index.
S&P BSE Sensex
CNX Nifty
The S&P BSE Mid-cap index moved down to 6402.77 and lost 0.26% while S&P BSE Small-cap index hammered
down by 0.72% to 6205.11.
The broader S&P BSE 500 index decreased to 7760.27 (down 0.43%) and CNX 500 index declined to 4873.80 (down
0.50%).
The volatility as denoted by INDIA VIX lost 6.16% at 17.98 from its previous close of 19.16 on Monday.
Sectors in action
On the BSE Sectorial front, Information Technology (up 2.07%), Metals (up 0.92%) and FMCG (up 0.87%) were the
top gainers.
Power (down 4.12%), Capital Goods (down 2.98%) and Banks (down 1.78%) were the top losers.
The Angels and the Devils
Tata Consultancy Services Ltd (up 3.95%), Hero MotoCorp Ltd (up 3.83%), Sesa Sterlite Ltd (up 2.32%), Wipro Ltd
(up 1.84%) and ITC Ltd (up 1.52%) were the top gainers on the Sensex.
NTPC Ltd (down 11.26%), Larsen And Toubro Ltd (down 4.00%), Bharat Heavy Electricals Ltd (down 3.52%), ICICI
Bank (down 3.49%) and State Bank of India (down 2.36%) were the top losers on the Sensex.

2. Benchmark Drivers
ICICI Bank (-57.21 points), Tata Consultancy Services Ltd (54.87 points), Larsen And Toubro Ltd (-45.05 points),
NTPC Ltd (-33.57 points) and ITC Ltd (31.07 points) were the major Sensex drivers today.
On the other end ICICI Bank (-14.51 points), Tata Consultancy Services Ltd (13.26 points), Larsen And Toubro Ltd (11.23 points), NTPC Ltd (-8.32 points) and ITC Ltd (7.80 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6334 for next session. The next support is at 6306 and on upside it has a resistance at
6361 levels.
CNX Nifty
Eff. Date
11-Dec-2013
10-Dec-2013
09-Dec-2013
S3
6251
6264
6191
S2
6280
6304
6211
S1
6306
6334
6235
PIVOT
6334
6375
6255
R1
6361
6404
6280
R2
6389
6445
6300
R3
6416
6475
6325
Actual Close
6332.85
6363.90
S&P BSE Sensex has a pivot at 21253 with first level of support and resistance at 21178 and 21330 respectively.
S&P BSE Sensex
Eff. Date
11-Dec-2013
10-Dec-2013
09-Dec-2013
S3
21025
21044
20802
Follow us on
S2
21100
21163
20862
S1
21178
21245
20929
PIVOT
21253
21364
20990
R1
21330
21446
21057
R2
21405
21565
21117
R3
21483
21647
21184
Actual Close
21255.26
21326.42
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