- The Indian stock market continued its three day losing streak, with the Nifty closing at 7511, down 29 points. - Markets opened cautiously amid ongoing violence in Iraq and swung between gains and losses before closing near the day's lows. - Most Asian and European markets also saw mixed trading due to concerns over the Iraq conflict, while US markets were mostly higher. - On the domestic front, seven large infrastructure projects worth Rs 21,000 crore received approval, but the rupee weakened against the dollar.

1. Benchmarks continue the losing streak for 3rd day; Nifty @7511
Market Snapshot | 20-06-2014 04:20 PM
Indian indices made a cautious start and plunged in red zone amidst persistent Iraq turmoil. Benchmarks swung in tight
range looking for a direction. In late noon session, markets plunged to settle near intra-day low levels with nifty at
7511. On BSE sectorial front, HealthCare was the top loser.
Among global peers, US markets traded mostly in green with S&P 500 marking new record high for 21st time this
year. However, Asian and European markets exhibited mixed trades on Iraq conflict worries.
Back home, on currency front, Rupee remained weak against dollar on the back of ongoing violence in Iraq. In
futures trades, INR hit an intra-day high of 60.19/USD and an intra-day low of 60.42/USD. In spot trades, INR hit an
intra-day high of 60.13/USD and an intra-day low of 60.33/USD. As per RBI reference rates, INR stood at 60.27/USD.
On commodities front, the yellow metal climbed in early trades but later pared some gains later on Iraq concerns. In
futures trades of August expiry, Gold marked intra-day high at Rs 27785 per 10 grams and an intra-day low at Rs
27468 per 10 grams.
On macro-economic front, the NaMo Government has waved a ‘green-signal’ to long awaited seven big-ticket
investment projects worth Rs 21000 crore. There were some issues ranging from environmental issues to financing
problems that held some of these projects for over a decade. Besides this, the Modi Government has assured to check
the progress of these projects in order to ensure the actual production activity on the ground and help revive the
economy.
On stock-specific front, Credit rating agency, ICRA climbed 11.43% to flag new record high at Rs 2779.4 on BSE
after Moody’s announced that it has secured majority equity ownership in the company by increasing its stake from
28.5% to over 50%.
IT major, Mindtree surged 5.37% on BSE on getting shareholders’ nod for raising up to $1 billion by selling or leasing
or mortgaging movable as well as immovable properties.
IFCI spiked 4.3% on BSE on plans to engage services of consultant for partial disinvestment of its stake in National
Stock Exchange of India (NSE) and disinvestment of its entire stake in IFCI Financial Services.
Pricol rallied 3.35% and marked fresh 52 week high at Rs 43.8 on BSE as HDFC Mutual Fund bought 25.40 lakh
shares of the company via open market route on an average price of Rs 39 valuing the transaction to Rs 9.91 crore.
Orchid Chemicals and Pharmaceuticals jumped 3.6% on BSE on receiving USFDA nod for its Abbreviated New Drug
Application (ANDA) for Eszopiclone Tablets, 1 mg, 2 mg, and 3 mg strengths.
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1373 and 1724
respectively, while 109 scrips remained unmoved.
The S&P BSE Sensex ended at 25105.51, down 96.29 points or 0.38%. The 30 share index touched a high and a
low of 25276.31 and 25056.18 respectively. 7 stocks advanced against 23 declining ones on the benchmark index.
The CNX Nifty lost 29.25 points or 0.39% to settle at 7511.45. The index touched high and low of 7560.55 and
7497.30 respectively. 15 stocks advanced against 35 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 8961.96 and lost 0.39% while S&P BSE Small-cap index hammered
down by 0.83% to 9761.22.
The broader S&P BSE 500 index decreased to 9582.66 (down 0.41%) and CNX 500 index declined to 6038.60 (down
0.43%).
The volatility as denoted by INDIA VIX gained 0.59% at 18.85 from its previous close of 18.74 on Thursday.
Sectors in action
On the BSE Sectorial front, Consumer Durables (up 3.47%), Real Estate (up 0.52%) and Information Technology (up
0.04%) were the top gainers.

2. Healthcare (down 0.95%), Automobile (down 0.91%) and Capital Goods (down 0.84%) were the top losers.
The Angels and the Devils
Axis Bank (up 1.35%), Bajaj Auto Ltd (up 0.70%), Bharti Airtel Ltd (up 0.52%), Tata Consultancy Services Ltd (up
0.50%) and Infosys Ltd (up 0.10%) were the top gainers on the Sensex.
Mahindra and Mahindra Ltd (down 2.87%), Tata Power Company Ltd (down 2.74%), Hindalco Industries Ltd (down
2.18%), Sun Pharmaceutical Industries Ltd (down 2.01%) and Sesa Sterlite Ltd (down 1.08%) were the top losers on
the Sensex.
Benchmark Drivers
Mahindra and Mahindra Ltd (-18.11 points), ICICI Bank (-17.01 points), Sun Pharmaceutical Industries Ltd (-12.40
points), Larsen And Toubro Ltd (-10.55 points) and State Bank of India (-9.94 points) were the major Sensex drivers
today.
On the other end ICICI Bank (-5.16 points), Mahindra and Mahindra Ltd (-4.46 points), Reliance Industries Ltd (-2.99
points), Tata Consultancy Services Ltd (2.88 points) and Sun Pharmaceutical Industries Ltd (-2.80 points) were the
major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7523 for next session. The next support is at 7486 and on upside it has a resistance at
7549 levels.
CNX NiftyCNX Nifty
Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close
23-Jun-2014 7422 7460 7486 7523 7549 7586 7612 -
20-Jun-2014 7389 7446 7493 7550 7597 7654 7701 7511.45
19-Jun-2014 7347 7431 7495 7579 7642 7726 7790 7540.70
S&P BSE Sensex has a pivot at 25146 with first level of support and resistance at 25016 and 25236 respectively.
S&P BSE SensexS&P BSE Sensex
Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close
23-Jun-2014 24796 24926 25016 25146 25236 25366 25456 -
20-Jun-2014 24683 24876 25039 25232 25395 25589 25751 25105.51
19-Jun-2014 24542 24828 25037 25323 25532 25818 26027 25201.80
Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.