Indian markets opened higher but pared gains to close lower, declining 0.25%, ahead of the RBI's mid-quarter policy review. Banking stocks fell the most on concerns over asset quality pressures. HDFC Bank dropped sharply after limits were placed on foreign institutional holdings. Healthcare and consumer sectors rose while banks, power and real estate declined. Trading was mixed globally with US indexes up slightly and European markets down.

1. Markets pare gain to end in red ahead of RBI policy
Market Snapshot | 17-12-2013 04:20 PM
Snapping 5-day southward journey, Indian indices started in green with Nifty above 6170. Markets continued firm
trades till noon trades but plunged thereafter to end in negative terrain. Both barometer gauges lost 0.25% ahead of
RBI mid-quarter review of monetary policy. On BSE sectorial front, Bankex topped the laggards.
Among global peers, US indices traded marginally in green on positive economic data. Asian indices also traded higher
amidst positive cues in US markets whereas European indices dipped in red zone.
Back home, Banking Index sank 1.3% after rating firm, Fitch, in its report highlighted that Indian banking sector is
witnessing asset quality pressures and will continue to see difficult times in 2014 amidst weak macro environment.
However, the rating agency assigned ‘stable’ outlook for Indian banking sector. (Read More)
Bharti Airtel soared 4.27% on BSE as the company is in talks with UAE-based telecom company Etisalat to sell its
operations in Sri Lanka. (Read More)
Banking bellwether, HDFC Bank tanked 3.55% on BSE as Reserve Bank of India (RBI) restricted foreign institutional
investors (FIIs) from purchasing shares in the bank on reaching the maximum prescribed shareholding limit. (Read
More)
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1198 and 1337
respectively, while 182 scrips remained unmoved.
The S&P BSE Sensex ended at 20612.14, down 47.38 points or 0.23%. The 30 share index touched a high and a
low of 20784.03 and 20594.99 respectively. 16 stocks advanced against 14 declining ones on the benchmark index.
The CNX Nifty lost 15.65 points or 0.25% to settle at 6139.05. The index touched high and low of 6190.55 and
6133.00 respectively. 25 stocks advanced against 25 declining ones on the index.
S&P BSE Sensex
CNX Nifty
The S&P BSE Mid-cap index moved down to 6318.97 and lost 0.03% while S&P BSE Small-cap index hammered
down by 0.04% to 6150.65.
The broader S&P BSE 500 index decreased to 7564.94 (down 0.09%) and CNX 500 index declined to 4748.50 (down
0.16%).
The volatility as denoted by INDIA VIX lost 0.16% at 18.33 from its previous close of 18.36 on Monday.
Sectors in action
On the BSE Sectorial front, Healthcare (up 1.51%), Consumer Durables (up 1.04%) and FMCG (up 0.76%) were the
top gainers.
Banks (down 1.28%), Power (down 0.73%) and Real Estate (down 0.66%) were the top losers.
The Angels and the Devils
Bharti Airtel Ltd (up 4.27%), Cipla Ltd (up 2.82%), Sun Pharmaceutical Industries Ltd (up 2.15%), Tata Consultancy
Services Ltd (up 1.43%) and Sesa Sterlite Ltd (up 1.17%) were the top gainers on the Sensex.
HDFC Bank (down 3.55%), Coal India Ltd (down 2.89%), Housing Development Finance Corporation Ltd (down
2.53%), NTPC Ltd (down 2.14%) and Bajaj Auto Ltd (down 1.95%) were the top losers on the Sensex.
Benchmark Drivers
HDFC Bank (-54.63 points), Housing Development Finance Corporation Ltd (-35.28 points), Bharti Airtel Ltd (22.12
points), Tata Consultancy Services Ltd (19.95 points) and ITC Ltd (16.03 points) were the major Sensex drivers today.
On the other end HDFC Bank (-14.84 points), Housing Development Finance Corporation Ltd (-8.63 points), Bharti
Airtel Ltd (5.68 points), Tata Consultancy Services Ltd (4.46 points) and ITC Ltd (4.02 points) were the major Nifty
movers today.

2. Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6154 for next session. The next support is at 6118 and on upside it has a resistance at
6175 levels.
CNX Nifty
Eff. Date
18-Dec-2013
17-Dec-2013
16-Dec-2013
S3
6060
6102
6103
S2
6097
6124
6132
S1
6118
6139
6150
PIVOT
6154
6161
6179
R1
6175
6177
6198
R2
6212
6199
6227
R3
6233
6214
6245
Actual Close
6139.05
6154.70
S&P BSE Sensex has a pivot at 20664 with first level of support and resistance at 20543 and 20732 respectively.
S&P BSE Sensex
Eff. Date
18-Dec-2013
17-Dec-2013
16-Dec-2013
S3
20354
20483
20475
Follow us on
S2
20475
20561
20584
S1
20543
20610
20650
PIVOT
20664
20687
20758
R1
20732
20737
20824
R2
20853
20814
20933
R3
20921
20864
20999
Actual Close
20612.14
20659.52
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