Sluggish global cues drag indices lower; Exports data disappoints

1. Sluggish global cues drag indices lower; Exports data disappoints
Market Snapshot | 11-04-2014 04:22 PM
Indian Indices plunged at open tracking pessimistic global cues with Nifty plummeting below 6800. Sustained selling
pressure ahead of February IIP data persuaded bourses to remain in negative terrain. In late trades, markets
recovered some losses to end marginally in red. On BSE sectorial front, Oil & Gas sector topped the laggards.
Among global peers, US markets nosedived as downbeat trade data from China weighed. Nasdaq Composite suffered
its worst one-day percentage decline since November 2011. Asian and European markets were also rattled on
negative cues from Wall-Street.
Back home, on currency front, Rupee traded weak against Dollar amidst negative trades in domestic equities. In
futures trades, INR hit an intra-day high of 60.37/USD and an intra-day low of 60.59/USD. In spot trades, INR hit an
intra-day high of 60.34/USD and an intra-day low of 60.19/USD. As per RBI reference rate, INR stood at 60.26/USD.
On macro-economic front, adding to the disappointing macro-economic data, India's merchandise exports slipped for
the second month in a row by 3.15% yoy to $29.58 billion in March. However, imports numbers offered some solace by
falling 2.11% to $40.09 Billion in March. Consequently, in FY2014, exports grew 3.98% to $312.3 billion against the
target of $325 billion whereas Imports fell 8.11% to $450.9 billion and the trade deficit for FY14 narrowed to $138.6
billion from $190.3 billion a year earlier.
On stock-specific front, Adani Enterprises tanked 7% on BSE after a spike of 23% in previous session as investors
opted to book profit in the stock.
Automobile major, Maruti Suzuki slipped 1.3% on BSE after making one of the biggest vehicle recall. The company
recalled 103311 units of its models Ertiga, Swift and DZire that were manufactured between November 12, 2013 and
February 4, 2014 for replacing faulty fuel filler neck.
IndusInd bank tanked 4.25% on BSE after Reserve Bank of India notified the bank that foreign investment limit has
reached upper limit. Consequently, further foreign inflows can be made only after the approval of apex bank.
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1610 and 1313 respectively,
while 141 scrips remained unmoved.
The S&P BSE Sensex ended at 22628.96, down 86.37 points or 0.38%. The 30 share index touched a high and a
low of 22679.18 and 22526.89 respectively. 11 stocks advanced against 19 declining ones on the benchmark index.
The CNX Nifty lost 20.10 points or 0.30% to settle at 6776.30. The index touched high and low of 6789.35 and
6743.15 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 up to 7338.46 and gained 0.10% while S&P BSE Small-cap index jumped up by
0.66% to 7523.18.
The broader S&P BSE 500 index decreased to 8440.95 (down 0.23%) and CNX 500 index declined to 5317.70 (down
0.20%).
The volatility as denoted by INDIA VIX gained 1.64% at 29.19 from its previous close of 28.72 on Thursday.
Sectors in action
On the BSE Sectorial front, Information Technology (up 1.54%), Healthcare (up 0.91%) and Consumer Durables (up
0.40%) were the top gainers.
Oil & Gas (down 1.28%), Automobile (down 1.20%) and Capital Goods (down 0.98%) were the top losers.
The Angels and the Devils
Sun Pharmaceutical Industries Ltd (up 1.87%), Tata Consultancy Services Ltd (up 1.75%), Wipro Ltd (up 1.34%),
Cipla Ltd (up 1.16%) and Infosys Ltd (up 0.91%) were the top gainers on the Sensex.
Mahindra and Mahindra Ltd (down 1.75%), Tata Motors Ltd (down 1.75%), Reliance Industries Ltd (down 1.65%),

2. Mahindra and Mahindra Ltd (down 1.75%), Tata Motors Ltd (down 1.75%), Reliance Industries Ltd (down 1.65%),
State Bank of India (down 1.61%) and GAIL (India) Ltd (down 1.59%) were the top losers on the Sensex.
Benchmark Drivers
Reliance Industries Ltd (-32.60 points), Tata Consultancy Services Ltd (25.10 points), Larsen And Toubro Ltd (-17.16
points), Infosys Ltd (16.42 points) and Housing Development Finance Corporation Ltd (-15.60 points) were the major
Sensex drivers today.
On the other end Reliance Industries Ltd (-8.16 points), Tata Consultancy Services Ltd (6.69 points), Infosys Ltd (4.97
points), Larsen And Toubro Ltd (-3.94 points) and ICICI Bank (-3.91 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6770 for next session. The next support is at 6750 and on upside it has a resistance at
6796 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
15-Apr-2014 6704 6723 6750 6770 6796 6816 6842 -
11-Apr-2014 6734 6756 6776 6798 6818 6839 6860 6776.30
10-Apr-2014 6628 6666 6731 6770 6835 6874 6938 6796.40
S&P BSE Sensex has a pivot at 22612 with first level of support and resistance at 22544 and 22696 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
15-Apr-2014 22392 22459 22544 22612 22696 22764 22849 -
11-Apr-2014 22494 22569 22642 22717 22790 22865 22938 22628.96
10-Apr-2014 22115 22247 22475 22607 22835 22968 23195 22715.33
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