1. Markets pare gains on higher inflation; Ranbaxy tanks 30%
Market Summary
16-Sep-2013
Firm global cues amid strengthening in Rupee to 62.66/USD bolstered Indian indices to make a buoyant start with
Sensex above 20K and Nifty at 5930. However, sentiments took a battering in noon session as headline inflation
surged higher than the expectations. Sensex nosedived nearly 500 points from its early morning high and recovered
subsequently to end flat.
Among global peers, US indices traded on a firm note amid choppy trades. Asian and European indices also traded
jubilantly on the hopes of a slower reduction in US stimulus.
Back home, a rude shock for economy arrived in form of disappointing WPI number following a positive surprise from
its cousin CPI on Friday. India's headline inflation measured by the Wholesale Price Index (WPI), shot to 6.10%
(provisional) for the month of August, 2013 as compared to 5.79% (provisional) for July, 2013. This is the fastest
growth of inflation in six months time. However on yoy basis Aug WPI stood better as compared to 8.01% during the
corresponding month of the previous year. The rise in inflation would severely constrain the RBI to meet rate cut
hopes. (Read More)
Global rating firm, HSBC downgraded Indian shares to “underweight” from “neutral”. The bank said it expects GDP
and earnings growth forecasts to follow the rating declines.
Pharmaceutical major, Ranbaxy Laboratories tanked 30.27% on BSE as the company has been issued import alert
due to non-compliance with drug good manufacturing practices by US Food & Drug Administration (USFDA) on
September 13 for its Mohali unit. (Read More)
McNally Bharat Engineering surged 6.50% on BSE on bagging an order for works relating to Coal Washery &
Crashing Plant for Rs 51.75 crore. (Read More)
HDFC Bank gained 2.21% on BSE on acquiring additional 4,275,000 equity shares of its subsidiary HDFC Securities
(HSL) from an existing shareholder. (Read More)
Power Grid Corporation of India shined 2.81% on BSE as ministry of power approved appointment of merchant
bankers for the company’s FPO.
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1147 and 1288
respectively, while 128 scrips remained unmoved.
The S&P BSE Sensex ended at 19742.47, up 9.71 points or 0.05%. The 30 share index touched a high and a low of
20086.43 and 19596.15 respectively. 12 stocks advanced against 18 declining ones on the benchmark index.
The CNX Nifty lost 10.05 points or 0.17% to settle at 5840.55. The index touched high and low of 5957.25 and
5798.15 respectively. 18 stocks advanced against 32 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 5598.69 and lost 0.54% while S&P BSE Small-cap index hammered
down by 0.58% to 5477.71.
The broader S&P BSE 500 index decreased to 7091.17 (down 0.22%) and CNX 500 index declined to 4440.90 (down
0.21%).
The volatility as denoted by INDIA VIX gained 1.87% at 28.82 from its previous close of 28.29 on Friday.
Sectors in action
On the BSE Sectorial front, Banks (up 1.86%), FMCG (up 0.38%) and Automobile (up 0.38%) were the top gainers.
Healthcare (down 2.47%), Real Estate (down 1.96%) and Information Technology (down 1.85%) were the top losers.
The Angels and the Devils
ICICI Bank (up 3.11%), Bharti Airtel Ltd (up 2.95%), Maruti Suzuki India Ltd (up 2.94%), HDFC Bank (up 2.21%) and

2. ICICI Bank (up 3.11%), Bharti Airtel Ltd (up 2.95%), Maruti Suzuki India Ltd (up 2.94%), HDFC Bank (up 2.21%) and
Hero MotoCorp Ltd (up 2.09%) were the top gainers on the Sensex.
Bharat Heavy Electricals Ltd (down 4.60%), Sesa Goa Ltd (down 3.62%), Tata Power Company Ltd (down 2.49%),
Tata Consultancy Services Ltd (down 2.48%) and Cipla Ltd (down 2.30%) were the top losers on the Sensex.
Benchmark Drivers
ICICI Bank (40.17 points), Tata Consultancy Services Ltd (-33.78 points), HDFC Bank (31.61 points), Reliance
Industries Ltd (-24.52 points) and ITC Ltd (21.06 points) were the major Sensex drivers today.
On the other end ICICI Bank (9.69 points), Tata Consultancy Services Ltd (-9.02 points), HDFC Bank (7.80 points),
Ranbaxy Laboratories Ltd (-7.04 points) and Reliance Industries Ltd (-5.99 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5865 for next session. The next support is at 5773 and on upside it has a resistance at
5932 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
17-Sep-2013 5614 5706 5773 5865 5932 6024 6092 -
16-Sep-2013 5760 5791 5821 5853 5882 5914 5944 5840.55
13-Sep-2013 5684 5750 5800 5866 5917 5982 6033 5850.60
S&P BSE Sensex has a pivot at 19808 with first level of support and resistance at 19530 and 20021 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
17-Sep-2013 19040 19318 19530 19808 20021 20299 20511 -
16-Sep-2013 19415 19546 19639 19769 19863 19993 20087 19742.47
13-Sep-2013 19246 19461 19622 19837 19997 20212 20373 19732.76
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