Sensex sheds a ton on weak IIP; Rupee snaps 5-day losing streak

1. Sensex sheds a ton on weak IIP; Rupee snaps 5-day losing streak
Market Summary
12-Jun-2013
Continuing southwards trend, Indian markets plunged at open tracking weak global cues. Benchmarks were seen
trading choppy in red zone amid disappointing IIP growth and closed there. Sensex shed another ton while closing
near 19K. On sectorial front, Consumer Durables was the laggard for second session in a row, tanked 7.37% on BSE
with Titan Industries as the top loser.
Globally, US markets dipped after Bank of Japan chose to hold its monetary policy steady which raised concerns that
central banks will not provide additional economic stimulus. Most of the Asian and European indices also traded in
negative terrain.
Back home, Consumer prices index (CPI) declined to 9.31% in May 2013 as against 9.39% in previous month, easing
for the third straight month in a row. However, experts expected the retail inflation gauge to ease to 9%. (News)
On the other hand, Index of Industrial Production (IIP) growth also slowed to 2% in April as against an expectation of
2.7%. Manufacturing, which constitutes about 76% of industrial production, rose 2.8% YoY.
Snapping five days losing streak, Rupee strengthened against USD and made an intraday high of 57.87 in spot trades.
Finance Ministry has assured that INR will stabilize in coming 3-4 days backed by large FII flows. Department of
Economic Affairs (DEA) Secretary Arvind Mayaram assured that Rupee slide is temporary and it will bounce back
aided by FII inflows in debt segment. (News)
MMTC shined 2.92% on BSE after hitting fresh 52 week low at Rs 191 ahead of Empowered Group of Ministers
(EGoM) meeting today to decide the floor price for stake sale. The government expects to raise Rs 250-300 crore by
divesting 9.33% stake in the company. (News)
Titan Industries extended yesterday’s losses, slumped 13.32% and hit fresh 52 week low at Rs 201.20 on BSE after
research houses downgraded the stock amid Reserve Bank of India (RBI)’s restrictions on gold imports will affect the
company’s earnings.
Jindal Steel and power was the star performer on both frontline gauges gaining 3.8% on BSE. Yesterday the stock
tanked as CBI lodged FIR against company’s Chief Navin Jindal in coal scam.
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1009 and 1428
respectively, while 129 scrips remained unmoved.
The S&P BSE Sensex ended at 19041.13, down 101.87 points or 0.53%. The 30 share index touched a high and a
low of 19143.24 and 18969.08 respectively. 10 stocks advanced against 20 declining ones on the benchmark index.
The CNX Nifty lost 28.60 points or 0.49% to settle at 5760.20. The index touched high and low of 5792.90 and
5738.60 respectively. 23 stocks advanced against 27 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 6193.41 and lost 0.60% while S&P BSE Small-cap index hammered
down by 0.56% to 5775.07.
The broader S&P BSE 500 index decreased to 7164.91 (down 0.59%) and CNX 500 index declined to 4502.20 (down
0.61%).
The volatility as denoted by INDIA VIX lost 3.28% at 18.85 from its previous close of 19.49 on Tuesday.
Sectors in action
On the BSE Sectorial front, Healthcare (up 0.46%), Oil & Gas (up 0.45%) and Banks (up 0.01%) were the top gainers.
Consumer Durables (down 7.37%), Metals (down 1.75%) and Information Technology (down 1.45%) were the top
losers.

2. The Angels and the Devils
Jindal Steel and Power Ltd (up 3.80%), Cipla Ltd (up 1.00%), Mahindra and Mahindra Ltd (up 0.78%), Reliance
Industries Ltd (up 0.65%) and State Bank of India (up 0.62%) were the top gainers on the Sensex.
Tata Power Company Ltd (down 3.03%), Coal India Ltd (down 2.69%), Tata Steel Ltd (down 2.61%), Hero MotoCorp
Ltd (down 2.37%) and Hindalco Industries Ltd (down 2.27%) were the top losers on the Sensex.
Benchmark Drivers
Infosys Ltd (-29.04 points), Tata Consultancy Services Ltd (-21.52 points), ITC Ltd (-21.39 points), Housing
Development Finance Corporation Ltd (-18.47 points) and Reliance Industries Ltd (10.80 points) were the major
Sensex drivers today.
On the other end Infosys Ltd (-7.93 points), Tata Consultancy Services Ltd (-5.89 points), ITC Ltd (-5.56 points),
Housing Development Finance Corporation Ltd (-4.57 points) and Axis Bank (-4.40 points) were the major Nifty movers
today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5764 for next session. The next support is at 5735 and on upside it has a resistance at
5789 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
13-Jun-2013 5681 5710 5735 5764 5789 5818 5844 -
12-Jun-2013 5669 5725 5757 5812 5844 5900 5932 5760.20
11-Jun-2013 5772 5815 5846 5889 5921 5963 5995 5788.80
S&P BSE Sensex has a pivot at 19051 with first level of support and resistance at 18959 and 19133 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
13-Jun-2013 18785 18877 18959 19051 19133 19225 19307 -
12-Jun-2013 18739 18930 19037 19228 19334 19525 19632 19041.13
11-Jun-2013 19124 19246 19343 19465 19562 19683 19781 19143.00
Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.