Despite firm global cues, Indian indices started on a cautious note and flirted with previous close till noon session. Benchmarks plunged subsequently dragged by IT index and ended in red with Sensex losing over a ton and Nifty below 6050.

1. Benchmarks shrug off firm global cues; Nifty ends below 6050
Market Summary
17-Oct-2013
Despite firm global cues, Indian indices started on a cautious note and flirted with previous close till noon session.
Benchmarks plunged subsequently dragged by IT index and ended in red with Sensex losing over a ton and Nifty
below 6050.
On global front, US markets traded on a joyous note with S&P 500 nearing record high as the Senate reached an
agreement to reopen the government and raise the debt ceiling. Asian indices also traded mostly in green whereas
European markets traded in negative terrain.
Back home, World Bank joined the brigade, in the slew of lowering India’s economy growth forecasts. Foreign bank in
its report ‘India Development Update’ has lowered country’s economic growth forecast to 4.7% for the current fiscal
from 6.1% estimated earlier. World Bank said that India's growth potential remains strong, but its macroeconomic
vulnerabilities such as balooning current account deficit (CAD), rising pressure on fiscal balances, depreciating rupee
and high inflation could impact the speed of economic recovery. (Read More)
On stock specific front, Bharti Airtel gained 2.85% on BSE on adding 11.60 lakh users in September, 2013. Following
this, the company’s total customer base has increased to 19.33 crore with a market share of 28.49%. (Read More)
Key Quarterly Results
Axis Bank shined 1.25% on BSE on registering 21.25% rise in Q2FY14 Net at Rs 1362.31 crore as compared to Rs
1123.54 crore for the same quarter in the previous year. However, Gross non-performing assets (NPAs) of the bank
rose 0.37% to 1.19% in the quarter as against 1.10% in the same quarter previous year. (Result)
IT bellwether, Tata Consultancy Services slumped 5% on BSE despite posting 50.20% jump in Q2 Net at Rs. 5608
crore as compared to Rs 3733 crore for the same quarter in the previous year. On consolidated basis, the company’s
Net profit for the quarter rose 34.91% at Rs 4633 crore against Rs 3434 crore in the September quarter of previous
fiscal. (Result)
HCL Technologies tanked 6.66% on BSE despite registering 84.47% jump in Q1 Net at Rs 1290.97 crore as
compared to Rs 700 crore for the same quarter in the previous year. (Featured Result)
South Indian Bank reported 30.5% growth in Q2FY14 Net at Rs 126.75 crore as compared to Rs 97.15 crore for the
Q2FY13. Gross non-performing assets (NPAs) of the bank have increased at 1.92% for the quarter as against 1.74%
in the same quarter of previous year. The stock ended marginally down on BSE. (Result)
Bajaj Auto shined 2% on BSE on reporting 13.03% rise in Q2FY14 Net at Rs 837 crore as compared to Rs 740 crore
for Q2FY13. (Result)
Castrol India ended marginally in green on reporting 22% fall in Q3FY14 Net at Rs 104.5 crore as compared to Rs
85.7 crore for the same quarter in the previous year. (Result)
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1264 and 1273
respectively, while 152 scrips remained unmoved.
The S&P BSE Sensex ended at 20415.51, down 132.11 points or 0.64%. The 30 share index touched a high and a
low of 20629.80 and 20375.42 respectively. 12 stocks advanced against 18 declining ones on the benchmark index.
The CNX Nifty lost 43.20 points or 0.71% to settle at 6045.85. The index touched high and low of 6110.75 and
6032.55 respectively. 19 stocks advanced against 31 declining ones on the index.
S&P BSE Sensex
CNX Nifty
The S&P BSE Mid-cap index moved up to 5837.29 and gained 0.13% while S&P BSE Small-cap index jumped up by
0.12% to 5699.98.
The broader S&P BSE 500 index decreased to 7360.47 (down 0.53%) and CNX 500 index declined to 4612.05 (down
0.59%).
The volatility as denoted by INDIA VIX lost 9.38% at 21.06 from its previous close of 23.24 on Tuesday.

2. Sectors in action
On the BSE Sectorial front, Consumer Durables (up 1.71%), Oil & Gas (up 1.36%) and FMCG (up 1.18%) were the top
gainers.
Information Technology (down 3.59%), Capital Goods (down 2.30%) and Automobile (down 1.20%) were the top
losers.
The Angels and the Devils
Bharti Airtel Ltd (up 2.85%), Oil and Natural Gas Corporation Ltd (up 2.24%), Bajaj Auto Ltd (up 1.92%), ITC Ltd (up
1.63%) and Reliance Industries Ltd (up 1.45%) were the top gainers on the Sensex.
Tata Consultancy Services Ltd (down 4.98%), Tata Motors Ltd (down 4.03%), Larsen And Toubro Ltd (down 3.73%),
Wipro Ltd (down 3.00%) and Infosys Ltd (down 2.34%) were the top losers on the Sensex.
Benchmark Drivers
Tata Consultancy Services Ltd (-77.17 points), Infosys Ltd (-45.42 points), ITC Ltd (36.53 points), Tata Motors Ltd (33.23 points) and Larsen And Toubro Ltd (-32.16 points) were the major Sensex drivers today.
On the other end Tata Consultancy Services Ltd (-18.84 points), Infosys Ltd (-12.64 points), ITC Ltd (9.13 points),
Larsen And Toubro Ltd (-8.69 points) and Tata Motors Ltd (-8.25 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6063 for next session. The next support is at 6015 and on upside it has a resistance at
6094 levels.
CNX Nifty
Eff. Date
18-Oct-2013
17-Oct-2013
15-Oct-2013
S3
5937
5945
6048
S2
5985
6001
6065
S1
6015
6045
6089
PIVOT
6063
6101
6107
R1
6094
6145
6130
R2
6141
6200
6148
R3
6172
6244
6171
Actual Close
6045.85
6089.05
S&P BSE Sensex has a pivot at 20474 with first level of support and resistance at 20317 and 20572 respectively.
S&P BSE Sensex
Eff. Date
18-Oct-2013
17-Oct-2013
15-Oct-2013
S3
20063
20097
20374
Follow us on
S2
20219
20272
20436
S1
20317
20410
20522
PIVOT
20474
20585
20584
R1
20572
20723
20670
R2
20728
20897
20732
R3
20826
21035
20818
Actual Close
20415.51
20547.62
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