The Indian stock market indices ended flat, with the Sensex closing up 0.25 points and the Nifty gaining 7.4 points. Trading was choppy amid cautious sentiment and selling pressure in software stocks like TCS on concerns about lower Q4 growth. Metals stocks gained while IT declined. The rupee strengthened against the dollar on hopes of foreign institutional inflows. TCS fell 3.8% on lower expected Q4 growth and margins, while Polaris rose 20% after board approval for a business demerger.

1. Sensex ends flat amidst cautious trades; Nifty @6524
Market Snapshot | 19-03-2014 04:21 PM
Following a marginally higher start, Indian indices witnessed choppy trades in morning deals. Cautious sentiments
persisted on D-Street amidst selling pressure in software pack on TCS growth concerns for Q4FY14. After volatile
trading, mostly in green, Sensex ended flat whereas Nifty stayed above water to hold 6500 mark. On BSE sectorial
front, Metal index was the top gainer whereas Teck stood the top laggard.
On global front, US markets edged higher on good housing data and positive reaction to comments from Russian
President Vladimir Putin who assured that there are no plans to seize any other regions of Ukraine following the
annexation of Crimea. On the flip side, Asian and European markets were mostly trading in red zone ahead of the
Federal Reserve’s policy statement.
Back home, on currency front, Rupee continued the winning streak against Dollar on hopes of FII inflows in the
domestic market. In futures trades, INR hit an intra-day high of 61/USD and an intra-day low of 61.31/USD. In spot
trades, INR hit an intra-day high of 60.9/USD and an intra-day low of 61.16/USD. As per RBI reference rate, INR stood
at 61.09/USD.
On stock specific front, IT bellwether, Tata Consultancy Services (TCS) tanked 3.8% on BSE after the company said
that the Q4FY14 growth can be reasonably lower on quarter on quarter basis and expected a margin decline of 40-50
bps in Q4. The company also expected forex gain to slip modestly in Q4 than that in Q3.
Another IT major, Polaris Financial Technologies spiked 20% and made fresh 52 week high at Rs 183.35 on BSE
after company’s board has given in-principle approval for demerger of the Products Business Undertaking into a
separate Listed Company. (Read More)
Thinksoft Global Services slipped 3% on BSE as its open offer failed at Rs 260 per share. The company got bids of
only 29085 shares as against offer size of 30.5 lakh shares.
Infosys inked a five-year agreement with Sweden based Lansforsakringar AB (LFAB) to provide application
development and management support for its life and non-life insurance business. The stock ended 2.3% down on
BSE. (Read More)
JSW Steel jumped 2.6% on BSE as the company’s crude steel production jumped 43% in February 2014 at 9.63 lakh
tones as compared to 6.75 lakh tones in February 2013. (Read More)
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1513 and 1385 respectively,
while 172 scrips remained unmoved.
The S&P BSE Sensex ended at 21832.86, up 0.25 points or 0.00%. The 30 share index touched a high and a low of
21895.83 and 21782.01 respectively. 20 stocks advanced against 10 declining ones on the benchmark index.
The CNX Nifty gained 7.40 points or 0.11% to settle at 6524.05. The index touched high and low of 6541.20 and
6506.00 respectively. 34 stocks advanced against 16 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 6739.58 and gained 0.30% while S&P BSE Small-cap index jumped up by
0.46% to 6722.35.
The broader S&P BSE 500 index increased to 8012.51 (up 0.19%) and CNX 500 index rose to 5044.20 (up 0.17%).
The volatility as denoted by INDIA VIX lost 1.46% at 16.88 from its previous close of 17.13 on Tuesday.
Sectors in action
On the BSE Sectorial front, Metals (up 2.12%), FMCG (up 1.21%) and Banks (up 0.61%) were the top gainers.
Information Technology (down 2.24%), Oil & Gas (down 0.49%) and Real Estate (down 0.36%) were the top losers.
The Angels and the Devils
Tata Steel Ltd (up 4.58%), Hindalco Industries Ltd (up 4.44%), Axis Bank (up 2.78%), Sesa Sterlite Ltd (up 2.09%) and

2. Tata Steel Ltd (up 4.58%), Hindalco Industries Ltd (up 4.44%), Axis Bank (up 2.78%), Sesa Sterlite Ltd (up 2.09%) and
Housing Development Finance Corporation Ltd (up 1.77%) were the top gainers on the Sensex.
Tata Power Company Ltd (down 5.30%), Tata Consultancy Services Ltd (down 3.84%), Oil and Natural Gas
Corporation Ltd (down 3.22%), Mahindra and Mahindra Ltd (down 2.79%) and Coal India Ltd (down 2.63%) were the
top losers on the Sensex.
Benchmark Drivers
Tata Consultancy Services Ltd (-55.62 points), Infosys Ltd (-43.99 points), Housing Development Finance Corporation
Ltd (25.86 points), ITC Ltd (23.52 points) and Oil and Natural Gas Corporation Ltd (-20.74 points) were the major
Sensex drivers today.
On the other end Tata Consultancy Services Ltd (-14.08 points), Infosys Ltd (-11.15 points), Housing Development
Finance Corporation Ltd (6.66 points), ITC Ltd (6.12 points) and Oil and Natural Gas Corporation Ltd (-5.53 points)
were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6524 for next session. The next support is at 6506 and on upside it has a resistance at
6542 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
20-Mar-2014 6471 6489 6506 6524 6542 6559 6577 -
19-Mar-2014 6407 6452 6485 6530 6562 6607 6639 6524.05
18-Mar-2014 6366 6399 6452 6485 6538 6571 6623 6516.65
S&P BSE Sensex has a pivot at 21837 with first level of support and resistance at 21778 and 21892 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
20-Mar-2014 21664 21723 21778 21837 21892 21951 22006 -
19-Mar-2014 21476 21631 21732 21886 21987 22142 22242 21832.86
18-Mar-2014 21358 21466 21638 21746 21918 22025 22197 21832.61
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