Indian markets showed mixed performance ahead of the RBI policy meet, with major indices managing slight gains despite volatile trading conditions. Key sectoral performances included gains in IT and metals, while gold lending companies faced declines due to new RBI regulations. Overall, S&P BSE Sensex closed at 19,804.03, up 61.56 points, while CNX Nifty settled at 5,850.20, up 9.65 points.

1. Markets manage green close ahead of RBI policy meet
Market Summary
17-Sep-2013
Benchmarks initiated trades in red amidst soft global cues. Markets remained choppy in tight range as investors
remained on sidelines ahead of RBI policy meet. In late noon session, Indian indices managed to keep head above
water to end in green. Among BSE sectorials, IT stocks strengthened on drop in Rupee against foreign currencies.
On global front, US, Asian and European indices traded mostly in red ahead of two day FOMC (Federal Open Market
Committee) meet starting today, which will decide the pace of reduction of its US bond buying.
Back home, RBI tightened norms for lending money against Gold. As per the rules, the companies require appropriate
infrastructure for storage of gold ornaments and central bank's permission to open over 1000 branches. The central
bank also clarified how the price of gold is to be ascertained while calculating the loan to value. Gold lending
companies Manappuram Finance and Muthoot Finance tumbled 4.92 and 8.81% on BSE.
Dr. Reddy’s Laboratories spiked 3.69% on BSE on receiving approval from US Food and Drug Administration (FDA)
for Azacitidine Injection a bioequivalent generic version of VIDAZA (azacitidine for injection). (Read More)
Steel Authority of India (SAIL) gained 2.57% on BSE on raising steel prices by Rs 1000-1500 per ton. (Read More)
Yes Bank shined 3.12% on BSE on concluding Multi-tenor Syndicated Loan facility worth $255 million. (Read More)
After yesterday’s big crash, Ranbaxy Laboratories gained 3.50% on BSE as brokerage house Nomura cites the
correction of 30% is an opportunity to buy the stock.
Financial Technologies crashed 11.11% on BSE ahead of panel of secretaries meet tomorrow to discuss NSEL crises.
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1093 and 1249
respectively, while 143 scrips remained unmoved.
The S&P BSE Sensex ended at 19804.03, up 61.56 points or 0.31%. The 30 share index touched a high and a low of
19819.10 and 19635.44 respectively. 19 stocks advanced against 11 declining ones on the benchmark index.
The CNX Nifty gained 9.65 points or 0.17% to settle at 5850.20. The index touched high and low of 5857.80 and
5804.90 respectively. 29 stocks advanced against 21 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 5575.32 and lost 0.42% while S&P BSE Small-cap index hammered
down by 0.05% to 5474.82.
The broader S&P BSE 500 index increased to 7098.19 (up 0.10%) and CNX 500 index rose to 4444.50 (up 0.08%).
The volatility as denoted by INDIA VIX lost 3.09% at 27.93 from its previous close of 28.82 on Monday.
Sectors in action
On the BSE Sectorial front, Information Technology (up 2.05%), Metals (up 0.97%) and FMCG (up 0.77%) were the
top gainers.
Real Estate (down 1.08%), Banks (down 0.73%) and Power (down 0.72%) were the top losers.
The Angels and the Devils
Wipro Ltd (up 5.41%), Dr. Reddys Laboratories Ltd (up 3.69%), Tata Consultancy Services Ltd (up 2.38%), Jindal
Steel and Power Ltd (up 1.94%) and Sesa Goa Ltd (up 1.89%) were the top gainers on the Sensex.
Sun Pharmaceutical Industries Ltd (down 3.22%), Oil and Natural Gas Corporation Ltd (down 2.30%), NTPC Ltd
(down 1.75%), Hero MotoCorp Ltd (down 1.21%) and Tata Steel Ltd (down 1.20%) were the top losers on the
Sensex.
Benchmark Drivers

2. ITC Ltd (31.27 points), Tata Consultancy Services Ltd (29.49 points), Sun Pharmaceutical Industries Ltd (-21.05
points), Housing Development Finance Corporation Ltd (-18.98 points) and Infosys Ltd (17.77 points) were the major
Sensex drivers today.
On the other end Tata Consultancy Services Ltd (7.91 points), ITC Ltd (7.88 points), Sun Pharmaceutical Industries
Ltd (-4.75 points), Housing Development Finance Corporation Ltd (-4.56 points) and Infosys Ltd (4.28 points) were the
major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5838 for next session. The next support is at 5817 and on upside it has a resistance at
5870 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
18-Sep-2013 5765 5785 5817 5838 5870 5891 5923 -
17-Sep-2013 5614 5706 5773 5865 5932 6024 6092 5850.20
16-Sep-2013 5760 5791 5821 5853 5882 5914 5944 5840.55
S&P BSE Sensex has a pivot at 19753 with first level of support and resistance at 19687 and 19870 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
18-Sep-2013 19503 19569 19687 19753 19870 19937 20054 -
17-Sep-2013 19040 19318 19530 19808 20021 20299 20511 19804.03
16-Sep-2013 19415 19546 19639 19769 19863 19993 20087 19742.47
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