Indian stock markets experienced significant declines, with the Sensex falling by 300 points following underwhelming Q4 results from Infosys, which projected a revenue growth of only 6-10% for the upcoming fiscal year. Industrial output also showed weakness, dropping to 0.6% in February 2013, while retail inflation eased slightly to 10.39%. The overall market sentiment remained negative, as the technology sector was particularly hard-hit, leading to widespread losses among tech stocks.

1. Infy guides D-street to doom; tech stocks thrashed in Sensex’s triple ton fall
Market Summary
12-Apr-2013
Following a gap down start, Indian indices could not recover throughout the session as series of negative news kept
the sentiments depressed. Much awaited Infosys Q4 numbers failed to enthuse the markets as the company projected
only 6-10% growth in its revenue for next fiscal. Additionally, showing signs of weakness in economy, Industrial Output
growth as measured by the Index of Industrial Production (IIP), also dropped to 0.6% in Feb 2013 vs 2.4% in Jan 2013
and 4.3% in Feb 2012. However, retail inflation (CPI) for March has eased off to 10.39%. The Sensex tanked by 300
points with IT index losing over 11%.
Globally, U.S. markets stretched the stint of making fresh record highs on positive economic data. However, Asian and
European markets exhibited negative trends.
Back home, Infy's Q4 Net (standalone) dipped 16.46% to 2305 crore. On consolidated basis, the company reported a
rise of 3.37% in its net profit at Rs 2394 crore. For full year, on standalone basis the company registered a growth of
7.63% in Net profit at Rs 9116 crore. On consolidated basis the company has registered 13.29% rise in net profit at Rs
9421 crore in FY2012-13. The company predicted its revenues to grow between 6-10% in its FY2013-14 guidance,
much below than Nasscom’s 12-14% industry growth expectations for the current fiscal. Stock tanked over 21%.
(Featured Result)
India’s retail inflation as measured by Consumer Price Index (CPI), declined in March 2013 to 10.39% versus 10.91%
% in Feb 2013. However, the double digit growth in CPI is continuing for fourth straight month, a major concern for
policy maker. The inflation easing off is mainly attributed to decline in prices of vegetables and protein based items.
(News)
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1085 and 1287
respectively, while 147 scrips remained unmoved.
The S&P BSE Sensex ended at 18242.56, down 299.64 points or 1.62%. The 30 share index touched a high and a
low of 18337.91 and 18186.10 respectively. 16 stocks advanced against 13 declining ones on the benchmark index.
The CNX Nifty lost 65.45 points or 1.17% to settle at 5528.55. The index touched high and low of 5544.50 and
5494.90 respectively. 36 stocks advanced against 14 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 6099.64 and lost 0.14% while S&P BSE Small-cap index hammered
down by 0.39% to 5872.11.
The broader S&P BSE 500 index decreased to 6944.14 (down 0.78%) and CNX 500 index declined to 4352.75 (down
0.80%).
The volatility as denoted by INDIA VIX lost 3.06% at 16.45 from its previous close of 16.97 on Thursday.
Sectors in action
On the BSE Sectorial front, FMCG (up 1.95%), Power (up 1.02%) and Banks (up 0.96%) were the top gainers.
Information Technology (down 11.09%), Capital Goods (down 0.69%) and Consumer Durables (down 0.61%) were the
top losers.
The Angels and the Devils
ITC Ltd (up 2.75%), State Bank of India (up 1.98%), Bajaj Auto Ltd (up 1.64%), Hindalco Industries Ltd (up 1.61%) and
Hindustan Unilever Ltd (up 1.49%) were the top gainers on the Sensex.
Infosys Ltd (down 21.33%), Wipro Ltd (down 4.72%), Coal India Ltd (down 1.78%), Tata Consultancy Services Ltd
(down 1.63%) and Larsen And Toubro Ltd (down 1.31%) were the top losers on the Sensex.
Benchmark Drivers
Infosys Ltd (-361.51 points), ITC Ltd (51.52 points), Tata Consultancy Services Ltd (-17.47 points), State Bank of India
(14.50 points) and Wipro Ltd (-13.92 points) were the major Sensex drivers today.

2. On the other end Infosys Ltd (-90.79 points), ITC Ltd (12.57 points), Tata Consultancy Services Ltd (-4.43 points),
State Bank of India (3.57 points) and Larsen And Toubro Ltd (-3.30 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5523 for next session. The next support is at 5501 and on upside it has a resistance at
5550 levels.
CNX Nifty
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
15-Apr-2013 5451 5473 5501 5523 5550 5572 5600 -
12-Apr-2013 5487 5515 5554 5582 5622 5650 5690 5528.55
11-Apr-2013 5409 5443 5501 5535 5593 5627 5685 5594.00
S&P BSE Sensex has a pivot at 18256 with first level of support and resistance at 18173 and 18325 respectively.
S&P BSE Sensex
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
15-Apr-2013 18021 18104 18173 18256 18325 18407 18477 -
12-Apr-2013 18226 18312 18427 18513 18628 18714 18829 18242.56
11-Apr-2013 17950 18062 18238 18350 18526 18638 18814 18542.20
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