Indian markets ended 0.4% higher, reaching their highest closing levels for 2014. Most sectors were positive except FMCG and capital goods. An RBI panel recommended targeting 4% inflation using the CPI benchmark. HDFC and Zee Entertainment reported higher profits, while Ashok Leyland and Thermax reported losses. The market breadth was positive and mid-cap and small-cap indices also closed higher.

1. Markets end 0.4% higher recording CY2014 closing high
Market Snapshot | 22-01-2014 04:20 PM
Following a cautious start in red, Indian indices wiped out their early losses and traded in green in a tight range till
noon. Markets gained momentum in post noon deals which persuaded key indices to decisively end in green at highest
CY2014 closing levels. Sensex as well as Nifty closed over 0.4% up preserving their crucial 21300 and 6300 levels
respectively. Except FMCG and Capital Goods, all BSE indices ended on positive note.
On global front, Asian markets continued the positive momentum on Chinese stimulus for new year. On the other end,
American and European indices witnessed selling pressure.
On macro front, Reserve Bank of India (RBI) panel, Urjit Patel committee recommended that RBI should consider
consumer price index (CPI) inflation as anchor and set a target of 4 per cent for CPI with a tolerance limit of plus/minus
2 per cent. Experts opined that CPI as inflation benchmark would ensure that interest rate will remain higher in near
future. On top of it, International Monetary Fund’s (IMF) World Economic Outlook update has pegged India’s economic
growth rate of 4.6 percent for this financial year causing cautiousness in investor sentiments.
Key Quarterly Results
Meeting street expectation, the Housing lender HDFC has recorded 12% rise in its Q3 Net at Rs 1277.71 crore on Net
Sales of Rs 6019.8 crore. On consolidated basis the company’s profit grew 13.42% at Rs 1934.85 crore on Total
Income of Rs 10052.98 crore for the period under review. HDFC stock gained 0.6% on BSE at Rs 842.25. (Featured
Result)
Zee Entertainment gained 1% on bourses on posting 10% y-o-y rise in its consolidated net at Rs 213.6 crore. On
standalone basis the company has posted 17.29% fall in Q3 net at Rs 158.37 crore. (View more)
Indiabulls Housing Finance gained 1% on BSE as the company has recorded 422% rise in its Dec Quarter net profit
at Rs 371.50 crore. (View more)
Ashok Leyland - For the period while the Net Sales declined by 17.95% at Rs 1953.2 crore the company has posted a
Net Loss of Rs 167.21 crore as against Net Profit of Rs 74.14 crore for corresponding period a year earlier. (View
Result)
Colgate Palmolive reported a year on year growth of 13.7% in Q3 Net Revenue at Rs 891.11 crore as against 783.77
crore for same period last financial year. Net profit for the same period rose marginally to Rs 112.83 crore as against
111.05 crore during Q3FY12-13. (View Result)
Thermax Ltd declined 2.55% on BSE on posting 12.72% dip in Q3 Net at Rs 66.65 crore. Company’s Net Sales
declined by 3.16% to Rs 1013.77 crore from Rs 1046.83 crore. (View Result)
Shares of Tata Coffee dropped 2.5% on BSE despite the company reporting 45% growth in its Q3 consolidated net
profit at Rs 37.66 crore. The company posted 26.47% dip in its standalone net profit at Rs 21.47 crore for the quarter
as compared to Rs 29.20 crore for the same period in previous year. (View more)
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1453 and 1304 respectively,
while 167 scrips remained unmoved.
The S&P BSE Sensex ended at 21337.67, up 86.55 points or 0.41%. The 30 share index touched a high and a low of
21377.91 and 21168.43 respectively. 20 stocks advanced against 10 declining ones on the benchmark index.
The CNX Nifty gained 25.15 points or 0.40% to settle at 6338.95. The index touched high and low of 6349.95 and
6287.45 respectively. 36 stocks advanced against 13 declining ones on the index.
S&P BSE Sensex
CNX Nifty
The S&P BSE Mid-cap index moved up to 6595.75 and gained 0.20% while S&P BSE Small-cap index jumped up by
0.28% to 6571.11.
The broader S&P BSE 500 index increased to 7809.76 (up 0.33%) and CNX 500 index rose to 4903.95 (up 0.35%).
The volatility as denoted by INDIA VIX gained 1.93% at 15.85 from its previous close of 15.55 on Tuesday.

2. Sectors in action
On the BSE Sectorial front, Healthcare (up 1.31%), Metals (up 0.93%) and Oil & Gas (up 0.76%) were the top gainers.
Capital Goods (down 0.52%) and FMCG (down 0.14%) were the top losers.
The Angels and the Devils
Sun Pharmaceutical Industries Ltd (up 2.85%), Tata Steel Ltd (up 2.28%), Hindalco Industries Ltd (up 2.04%), Bharti
Airtel Ltd (up 1.56%) and NTPC Ltd (up 1.38%) were the top gainers on the Sensex.
State Bank of India (down 0.77%), Larsen And Toubro Ltd (down 0.65%), Hero MotoCorp Ltd (down 0.60%), ITC Ltd
(down 0.49%) and Bharat Heavy Electricals Ltd (down 0.47%) were the top losers on the Sensex.
Benchmark Drivers
Reliance Industries Ltd (16.80 points), Sun Pharmaceutical Industries Ltd (15.90 points), ICICI Bank (11.05 points), ITC
Ltd (-10.31 points) and Housing Development Finance Corporation Ltd (8.42 points) were the major Sensex drivers
today.
On the other end Reliance Industries Ltd (4.84 points), Sun Pharmaceutical Industries Ltd (4.11 points), ICICI Bank
(3.31 points), ITC Ltd (-2.74 points) and Hindustan Unilever Ltd (2.09 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6325 for next session. The next support is at 6301 and on upside it has a resistance at
6363 levels.
CNX Nifty
Eff. Date
23-Jan-2014
22-Jan-2014
21-Jan-2014
S3
6238
6265
6198
S2
6263
6282
6221
S1
6301
6298
6262
PIVOT
6325
6314
6285
R1
6363
6330
6326
R2
6388
6346
6349
R3
6426
6362
6391
Actual Close
6338.95
6313.80
S&P BSE Sensex has a pivot at 21295 with first level of support and resistance at 21211 and 21421 respectively.
S&P BSE Sensex
Eff. Date
23-Jan-2014
22-Jan-2014
21-Jan-2014
S3
21002
21079
20843
Follow us on
S2
21085
21134
20922
S1
21211
21193
21064
PIVOT
21295
21248
21143
R1
21421
21306
21284
R2
21504
21361
21363
R3
21630
21419
21504
Actual Close
21337.67
21251.12
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