Indian equity indices extended their losing streak to four days due to political worries in India and Cyprus rejecting an EU bailout plan, deepening the Eurozone crisis. The Nifty closed below 5700 points at 5694.40. Most sectors declined with real estate and power dropping the most. Key stocks like ICICI Bank and SBI declined sharply dragging the indices lower.

1. Markets extend losing streak amid political worries; Nifty ends below 5700
Market Summary
20-Mar-2013
Indian equity indices extended the losing streak for fourth straight session amid political worries on domestic front and
Cyprus bailout issue on global front. While, it is almost certain that DMK will not return to ruling UPA fold, Cyprus
parliament, meanwhile rejected EU rescue proposal that would require bank deposits to be taxed at a rate of upto
9.9% thereby deepening the Eurozone crisis. RBI slashing repo rate by 25 bps on Tuesday also proved futile as Nifty
tanked 0.9% and closed below psychologically important 5700 levels with Reliance Infrastructure (down 9.25%) as the
top loser. CNX Reality Index dived over 5% on sectorial front.
On global front, US markets closed mostly in red. On the other hand European markets were trading on a positive note
whereas Asian markets witnessed mixed session.
Back home, Government will sell its 10.82% stake in Steel Authority of India (SAIL) on March 22, 2013 to realize the
expected amount of Rs 2500 crore. The stock closed 0.61% down after hitting fresh 52 week low at Rs 64.05 on BSE.
(News)
Sugar stocks like Shree Renuka Sugar, Balrampur Chini, Bajaj Hindusthan and Dhampur Sugar Mills dipped 7.17%,
3.70%, 5.01% and 6.18% respectively on BSE after cabinet panel deferred decision on sugar decontrol. (What's Hot)
Manappuram Finance plunged 14.26% on BSE after foreign research house Bank of America Merrill Lynch (BofAML)
downgraded the stock to “underperform” from a “buy” rating to a target price of Rs 20.
Housing Development and Infrastructure Ltd (HDIL) slipped 19.90% and made fresh 52 week low at Rs 47.90 on BSE
after company denied accepting a downgrade rating by CARE which was given in a report on Wednesday. The
company asked to review the rating.
FMCG major, Hindustan Unilever Ltd (HUL) gained 3.37% on BSE after brokerage firm UBS upgraded the stock to
“buy” from “neutral” with a target price of Rs 540.
Federal Bank ended 1.41% down on BSE after LIC offloaded 2.02% stake from the company for Rs 170 crore. (News)
Global Spirits surged 4.35% on BSE after raising Rs 70 crore via preferential issue of compulsorily convertible
preference shares to promoter. (News)
The market breadth on the BSE closed in negative. Advancing and declining stocks were 785 and 2171 respectively,
while 128 scrips remained unmoved.
The S&P BSE Sensex ended at 18884.19, down 123.91 points or 0.65%. The 30 share index touched a high and a
low of 19028.09 and 18836.77 respectively. 11 stocks advanced against 19 declining ones on the benchmark index.
The CNX Nifty lost 51.55 points or 0.90% to settle at 5694.40. The index touched high and low of 5745.30 and
5682.30 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 6161.60 and lost 1.90% while S&P BSE Small-cap index hammered
down by 2.32% to 5901.60.
The broader S&P BSE 500 index decreased to 7104.52 (down 1.13%) and CNX 500 index declined to 4446.05 (down
1.22%).
The volatility as denoted by INDIA VIX lost 0.30% at 16.66 from its previous close of 16.71 on Tuesday.
Sectors in action
On the BSE Sectorial front, FMCG (up 0.67%), Information Technology (up 0.12%) and Automobile (up 0.07%) were
the top gainers.
Real Estate (down 4.67%), Power (down 2.65%) and Banks (down 2.10%) were the top losers.

2. The Angels and the Devils
Hindustan Unilever Ltd (up 3.37%), Tata Motors Ltd (up 1.51%), Cipla Ltd (up 1.47%), Tata Consultancy Services Ltd
(up 0.78%) and Tata Power Company Ltd (up 0.66%) were the top gainers on the Sensex.
Bharti Airtel Ltd (down 4.18%), State Bank of India (down 3.87%), NTPC Ltd (down 3.43%), ICICI Bank (down 2.85%)
and Hindalco Industries Ltd (down 2.80%) were the top losers on the Sensex.
Benchmark Drivers
ICICI Bank (-40.28 points), State Bank of India (-30.62 points), Larsen And Toubro Ltd (-20.55 points), Hindustan
Unilever Ltd (19.68 points) and Bharti Airtel Ltd (-19.38 points) were the major Sensex drivers today.
On the other end ICICI Bank (-10.74 points), State Bank of India (-7.53 points), Larsen And Toubro Ltd (-5.74 points),
Bharti Airtel Ltd (-5.32 points) and Hindustan Unilever Ltd (4.91 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5707 for next session. The next support is at 5669 and on upside it has a resistance at
5732 levels.
CNX Nifty
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
21-Mar-2013 5606 5644 5669 5707 5732 5770 5795 -
20-Mar-2013 5553 5639 5692 5778 5832 5917 5971 5694.40
19-Mar-2013 5780 5797 5816 5833 5852 5869 5888 5745.95
S&P BSE Sensex has a pivot at 18916 with first level of support and resistance at 18805 and 18996 respectively.
S&P BSE Sensex
Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close
21-Mar-2013 18613 18725 18805 18916 18996 19108 19187 -
20-Mar-2013 18400 18670 18839 19109 19278 19548 19717 18884.19
19-Mar-2013 19122 19177 19235 19290 19348 19403 19462 19008.10
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