Indian markets declined for the fifth straight session due to higher inflation dragging global peers lower. The WPI rose to 14-month high of 7.52% in November, fueling concerns the RBI may hike interest rates. Several sectors such as oil and gas declined, while others like IT and healthcare gained. The Sensex closed down 0.27% while the Nifty fell 0.22% on worries over inflation and the possibility of monetary policy tightening.

1. Higher inflation drags market lower for 5th straight session
Market Snapshot | 16-12-2013 04:20 PM
Indian indices started weak for the fifth straight session amidst sluggish trades in global peers. Benchmarks traded
marginally in green for a while but soon pared gains as November WPI accelerated to 14 months high. Markets
remained lackluster and settled near day’s low. On BSE sectorial front, Oil & Gas was the top laggard.
Among global peers, US indices witnessed mute trades amidst tapering worries. Asian indices slumped after Chinese
HSBC PMI slowed to 3 months low levels. On the other side, European indices traded marginally in green.
Back home, after CPI reporting in excess of 11%, WPI numbers too are not comforting and may become prime reason
for a rate hike from RBI. India’s main inflation barometer, Wholesale Price Index (WPI) jumped to 14 months high level
at 7.52% in November as against eight month high figure of 7% (Provisional) for October. In November 2012, the
inflation number stood at 7.24%. WPI for September was revised sharply upwards to 7.05% from an earlier estimate of
6.46%. (Read More)
To add to macro woes, In April-October period, FDI in service sector tumbled 62% to $1.36 billion during April-October
2013 as compared to $3.6 billion during same period of previous year. (Read More)
BSE Oil and Gas Sector tanked 138 points despite getting Government approval for projects worth Rs 7947 crore in
the sector for the companies such as IOC (down 1%), ONGC (1.37%), BPCL (down 1.10%) and HPCL (down 2.33%).
(Read More)
GlaxoSmithKline Pharmaceuticals rallied 18.6% and hit fresh 52 week high at Rs 2952 on BSE as parent company
GlaxoSmithKline Plc (GSK) is planning to hike its stake in the company to 75% from 50.7% through an open offer in a
deal worth about 629 million pounds ($1.02 billion). (Read More)
SpiceJet spurted 7.65% on BSE as the budget air carrier inked 3-year interline agreement with Tigerair for greater
connectivity between flights operated by both airlines. (Read More)
Power Finance Corporation jumped 3.9% on BSE as the company’s arm PFC Consulting, has transferred its two
wholly owned subsidiaries to successful bidder selected through ‘Tariff based Competitive Bidding Guidelines for
Transmission services’ issued by Ministry of Power, Government of India. (Read More)
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1143 and 1369
respectively, while 192 scrips remained unmoved.
The S&P BSE Sensex ended at 20659.52, down 56.06 points or 0.27%. The 30 share index touched a high and a
low of 20764.52 and 20637.77 respectively. 11 stocks advanced against 19 declining ones on the benchmark index.
The CNX Nifty lost 13.70 points or 0.22% to settle at 6154.70. The index touched high and low of 6183.25 and
6146.05 respectively. 20 stocks advanced against 30 declining ones on the index.
S&P BSE Sensex
CNX Nifty
The S&P BSE Mid-cap index moved up to 6321.14 and gained 0.30% while S&P BSE Small-cap index jumped up by
0.36% to 6152.91.
The broader S&P BSE 500 index decreased to 7572.01 (down 0.01%) and CNX 500 index declined to 4756.00 (down
0.00%).
The volatility as denoted by INDIA VIX gained 2.91% at 18.36 from its previous close of 17.84 on Friday.
Sectors in action
On the BSE Sectorial front, Information Technology (up 1.56%), Consumer Durables (up 1.20%) and Healthcare (up
0.81%) were the top gainers.
Oil & Gas (down 1.61%), Automobile (down 0.70%) and FMCG (down 0.49%) were the top losers.
The Angels and the Devils
Sesa Sterlite Ltd (up 4.54%), Infosys Ltd (up 2.25%), Tata Power Company Ltd (up 1.96%), Coal India Ltd (up 1.18%)

2. Sesa Sterlite Ltd (up 4.54%), Infosys Ltd (up 2.25%), Tata Power Company Ltd (up 1.96%), Coal India Ltd (up 1.18%)
and ICICI Bank (up 1.10%) were the top gainers on the Sensex.
Jindal Steel and Power Ltd (down 2.96%), Sun Pharmaceutical Industries Ltd (down 2.47%), Bharti Airtel Ltd (down
2.20%), Reliance Industries Ltd (down 2.19%) and Mahindra and Mahindra Ltd (down 2.14%) were the top losers on
the Sensex.
Benchmark Drivers
Infosys Ltd (43.77 points), Reliance Industries Ltd (-39.73 points), HDFC Bank (-17.38 points), ICICI Bank (16.28
points) and Housing Development Finance Corporation Ltd (-14.85 points) were the major Sensex drivers today.
On the other end Infosys Ltd (11.10 points), Reliance Industries Ltd (-10.13 points), ICICI Bank (4.20 points), ITC Ltd (4.02 points) and Sun Pharmaceutical Industries Ltd (-3.60 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6161 for next session. The next support is at 6139 and on upside it has a resistance at
6177 levels.
CNX Nifty
Eff. Date
17-Dec-2013
16-Dec-2013
13-Dec-2013
S3
6102
6103
6160
S2
6124
6132
6195
S1
6139
6150
6216
PIVOT
6161
6179
6251
R1
6177
6198
6272
R2
6199
6227
6308
R3
6214
6245
6329
Actual Close
6154.70
6168.40
S&P BSE Sensex has a pivot at 20687 with first level of support and resistance at 20610 and 20737 respectively.
S&P BSE Sensex
Eff. Date
17-Dec-2013
16-Dec-2013
13-Dec-2013
S3
20483
20475
20648
Follow us on
S2
20561
20584
20775
S1
20610
20650
20850
PIVOT
20687
20758
20977
R1
20737
20824
21052
R2
20814
20933
21179
R3
20864
20999
21255
Actual Close
20659.52
20715.58
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