Day gone by: D-Street aiming for sky...Sensex gains 387 points; lower inflation and global fall in gold, crude boost sentiments

1. D-Street aiming for sky; lower inflation and global fall in gold, crude boost
sentiments
Market Summary
16-Apr-2013
Despite sluggish global cues amid weak Chinese & US economic data, key Indian benchmarks zoomed over 2% during
the day reveling the inflation easing with rate sensitive indices topping the charts. Rate cut hopes were revived with
WPI numbers reported lower yesterday as RBI prefers a low inflationary scenario for slashing policy rates. Sensex
gained 387 points to close near 18745.
Market experts feel, rate cut is needed to stimulate the sagging economy specially after dismal show on IIP front.
Additionally, the sentiments got boost on the steep fall in gold and crude prices globally as the pressure is expected to
be reduced on current account deficit and fiscal deficit.
Gold loan companies, Manappuram Finance (down 9.77%) and Muthoot Finance (down 9.44%) extended their fall
further amid selling pressure in Gold in international markets on fears of central bank sales. On intraday basis MCX
Gold registered a new 15 month low of Rs. 25270/10 grams.
Oil Marketing Companies like BPCL, ONGC & OIL spurted 2.72%, 3.87% and 3.23% respectively despite slashing
petrol prices by Re 1 on the back of fall in oil prices in international markets. (News)
Research house, UBS recommended a “buy” rating on Maruti Suzuki with a target price of Rs 1850. The stock closed
4.23% up on BSE.
Kingfisher Airlines tumbled 4.70% on BSE after hitting all time low at Rs 6.87 on worries that the aviation regulator may
not allow the company to restart operations.
ITC jumped 2.77% on BSE after the company price of cigarette brands. (News)
Public Sector major, Bharat Heavy Electricals (BHEL) gained 2.13% on BSE after receiving AIMA Managing India
Award for the outstanding PSU of the year by the All India Management Association (AIMA). (News)
Jet Airways ended 0.85% up on BSE on the reports of promoters offloading their 6-8% stake in the company via Offer
for Sale (OFS) route in May to bring down promoter holdings to 75% as per SEBI guidelines. (News)
CMC Ltd registered 38% rise in Net Profit of Q4 to Rs 46.10 crore on YoY basis. The stock closed 1.34% down on
BSE. (News)
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1373 and 1054 respectively,
while 158 scrips remained unmoved.
The S&P BSE Sensex ended at 18744.93, up 387.13 points or 2.11%. The 30 share index touched a high and a low
of 18771.33 and 18325.73 respectively. 27 stocks advanced against 3 declining ones on the benchmark index.
The CNX Nifty gained 120.55 points or 2.16% to settle at 5688.95. The index touched high and low of 5699.25 and
5555.85 respectively. 46 stocks advanced against 4 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 6161.39 and gained 0.86% while S&P BSE Small-cap index jumped up by
0.43% to 5922.71.
The broader S&P BSE 500 index increased to 7103.02 (up 1.79%) and CNX 500 index rose to 4457.55 (up 1.86%).
The volatility as denoted by INDIA VIX lost 2.17% at 16.25 from its previous close of 16.61 on Monday.
Sectors in action
On the BSE Sectorial front, Banks (up 2.94%), Automobile (up 2.54%) and Capital Goods (up 2.53%) were the top
gainers.
Information Technology (down 0.50%) was the top loser.

2. The Angels and the Devils
Maruti Suzuki India Ltd (up 4.23%), Mahindra and Mahindra Ltd (up 3.95%), Oil and Natural Gas Corporation Ltd (up
3.87%), Housing Development Finance Corporation Ltd (up 3.84%) and Hero MotoCorp Ltd (up 3.55%) were the top
gainers on the Sensex.
Infosys Ltd (down 1.71%), Sterlite Industries (India) Ltd (down 1.28%) and Cipla Ltd (down 0.10%) were the top losers
on the Sensex.
Benchmark Drivers
ITC Ltd (54.47 points), Housing Development Finance Corporation Ltd (51.83 points), HDFC Bank (47.00 points), ICICI
Bank (43.23 points) and Larsen And Toubro Ltd (29.37 points) were the major Sensex drivers today.
On the other end ITC Ltd (13.24 points), Housing Development Finance Corporation Ltd (12.65 points), HDFC Bank
(12.45 points), ICICI Bank (11.00 points) and Larsen And Toubro Ltd (7.47 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5648 for next session. The next support is at 5597 and on upside it has a resistance at
5740 levels.
CNX Nifty
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
17-Apr-2013 5453 5505 5597 5648 5740 5791 5884 -
16-Apr-2013 5422 5461 5515 5554 5607 5646 5700 5688.95
15-Apr-2013 5451 5473 5501 5523 5550 5572 5600 5568.40
S&P BSE Sensex has a pivot at 18614 with first level of support and resistance at 18457 and 18902 respectively.
S&P BSE Sensex
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
17-Apr-2013 18011 18168 18457 18614 18902 19060 19348 -
16-Apr-2013 17913 18029 18193 18309 18473 18589 18754 18744.93
15-Apr-2013 18021 18104 18173 18256 18325 18407 18477 18357.80
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