1. Sensex dips on disappointing macro numbers; Infosys shines
Market Snapshot | 15-04-2014 04:22 PM
After a long week-end, Indian indices made a positive start, but instantly nosedived in red on the back of discouraging
IIP data. Soft trades in global peers added to the pessimism that led Nifty to breach 6750 despite robust Q4 numbers
posted by IT heavyweight, Infosys. Benchmarks magnified the losses further post the announcement of rise in official
inflation data. Both frontline gauges plunged 0.64% at the close with Sensex shedding 144 points. On BSE sectorial
front, Realty was the top laggard.
Among global peers, US markets edged higher on good retail sales data. However, most of the Asian and European
stocks were trading lower as Ukraine worries and the slowest Chinese money supply growth in almost 13 years
weighed.
Back home, on currency front, Rupee traded mute against Dollar after negative trades amidst disappointing domestic
macro numbers. In futures trades, INR hit an intra-day high of 60.36/USD and an intra-day low of 60.57/USD. In spot
trades, INR hit an intra-day high of 60.20/USD and an intra-day low of 60.37/USD. As per RBI reference rate, INR
stood at 60.26/USD.
On macro-economic front, in a big disappointment, Indian industrial production rattled the D-Street by slipping to 9-
month low level in February 2014. Country’s industrial production, gauged by Index of Industrial Production (IIP)
contracted 1.9% in February as compared to marginal expansion of 0.1% in January. The street had an expectation of
an improvement in IIP to 0.34% on the back of good eight core industries growth.
Adding to the concerns, Wholesale price Index for March grew unexpectedly to 3 month high level. The annual rate of
inflation, based on monthly WPI, accelerated to 5.70% in March 2014 as against 4.68% (provisional) in February, 2014
and 5.65% in March 2013. The street had an expectation of 5.2%. It has reduced the scope of a rate cut by RBI which
is badly needed by the industry in the wake of shrinking IIP.
On stock-specific front, United Spirits rallied 11.6% on BSE after global liquor major, Diageo announced to acquire
26% stake in the company by launching tender offer. The price of a share will be Rs 3030 in the tender offer and the
total consideration for the increased stake will be Rs 11448.91 crore.
Clariant Chemicals soared 6% to hit fresh 52 week high at Rs 741.9 on BSE as the company has entered into an
agreement for selling its land located in Kolshet, Thane of about 87 acres to Ishwer Realty and Technologies,
subsidiary of Lodha Developers for a consideration of Rs 1154.25 crore.
Key Quarterly Results
Country’s IT bellwether, Infosys reported a jump of 25.07% in Q4FY14 Net at Rs 2883 crore as compared to Rs 2305
crore for the same quarter in the previous year. On consolidated basis, the company’s Net climbed 24.98% at Rs 2992
crore as compared to Rs 2394 crore for Q4FY13. For FY13-14, the company’s Net rose 11.82% at Rs 10194 crore as
compared to Rs 9116 crore for FY12-13. Infosys expects a Dollar revenue growth of 7-9% in FY2014-15 as against an
expectation of 6-9% by analysts. This is sharply lower as compared to Nasscom's 13-15% guidance for the industry
The stock ended 0.76% up on BSE.
CMC posted a jump of 183.54% in Q4FY14 Net at Rs 130.74 crore as compared to Rs 46.11 crore for the same
quarter in the previous year. The stock ended 0.2% down on BSE.
Gruh Finance climbed 14.45% to hit fresh 52 week high at Rs 375 on BSE after registering a rise of 16.71% in Q4 Net
profit at Rs 73.60 crore as compared to Rs 63.06 crore for the same quarter in the previous year.
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1379 and 1521
respectively, while 141 scrips remained unmoved.
The S&P BSE Sensex ended at 22484.93, down 144.03 points or 0.64%. The 30 share index touched a high and a
low of 22737.31 and 22416.24 respectively. 10 stocks advanced against 20 declining ones on the benchmark index.
The CNX Nifty lost 43.20 points or 0.64% to settle at 6733.10. The index touched high and low of 6813.40 and
6711.75 respectively. 13 stocks advanced against 37 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 7311.99 and lost 0.36% while S&P BSE Small-cap index hammered

2. The S&P BSE Mid-cap index moved down to 7311.99 and lost 0.36% while S&P BSE Small-cap index hammered
down by 0.29% to 7501.50.
The broader S&P BSE 500 index decreased to 8385.59 (down 0.66%) and CNX 500 index declined to 5278.15 (down
0.74%).
The volatility as denoted by INDIA VIX gained 9.22% at 31.88 from its previous close of 29.19 on Friday.
Sectors in action
On the BSE Sectorial front, Information Technology (up 2.16%) and FMCG (up 0.27%) were the top gainers.
Real Estate (down 2.99%), Metals (down 2.81%) and Banks (down 2.07%) were the top losers.
The Angels and the Devils
Tata Consultancy Services Ltd (up 4.06%), Wipro Ltd (up 3.71%), Hero MotoCorp Ltd (up 2.34%), Infosys Ltd (up
0.76%) and NTPC Ltd (up 0.72%) were the top gainers on the Sensex.
Hindalco Industries Ltd (down 4.48%), Axis Bank (down 3.32%), Housing Development Finance Corporation Ltd (down
3.25%), Sesa Sterlite Ltd (down 3.14%) and Tata Steel Ltd (down 2.79%) were the top losers on the Sensex.
Benchmark Drivers
Tata Consultancy Services Ltd (59.37 points), Housing Development Finance Corporation Ltd (-50.89 points), HDFC
Bank (-31.89 points), ICICI Bank (-23.17 points) and Tata Motors Ltd (-22.30 points) were the major Sensex drivers
today.
On the other end Tata Consultancy Services Ltd (15.63 points), Housing Development Finance Corporation Ltd (-
13.85 points), HDFC Bank (-8.18 points), Tata Motors Ltd (-6.22 points) and ICICI Bank (-5.75 points) were the major
Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6753 for next session. The next support is at 6692 and on upside it has a resistance at
6794 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
16-Apr-2014 6590 6651 6692 6753 6794 6854 6895 -
15-Apr-2014 6704 6723 6750 6770 6796 6816 6842 6733.10
11-Apr-2014 6734 6756 6776 6798 6818 6839 6860 6776.30
S&P BSE Sensex has a pivot at 22546 with first level of support and resistance at 22355 and 22676 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
16-Apr-2014 22034 22225 22355 22546 22676 22867 22997 -
15-Apr-2014 22392 22459 22544 22612 22696 22764 22849 22484.93
11-Apr-2014 22494 22569 22642 22717 22790 22865 22938 22628.96
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