The Indian markets opened cautiously but ended flat, with the Sensex gaining 9 points and Nifty rising slightly above 6,050. Key heavyweights like RIL and L&T reported disappointing earnings for Q1, dragging the markets lower. Globally, US and European markets traded positively but Indian markets were impacted by weak earnings from major companies.

1. Benchmarks end flat ... RIL, L&T Q1 earnings disappoint
Market Summary
22-Jul-2013
Following a cautious start, Indian indices edged higher in late morning session tracking firm global cues. In noon
trades, Sensex added a ton and Nifty rose above 6050 amid reports of FII buying worth Rs 252.26 crore on Friday.
Benchmarks pared early gains and finally ended flat amidst poor Q1 show by heavy weights RIL and L&T. On sectorial
front, Capital Goods topped the laggards as L&T and BHEL tanked over 7% each.
Globally, US markets and European indices traded in positive terrain. Asian indices edged higher led by Japanese
markets after Prime Minister Shinzo Abe's big election win over the weekend.
Back home, pharmaceutical major; Wockhardt tanked 9.12% on BSE after the company received a warning letter from
the USFDA for its facility at Waluj in Maharashtra for not meeting manufacturing norms. The company says that it has
already initiated several corrective measures to resolve the same.
Bharat Heavy Electricals Ltd (BHEL) plummeted 7.05% and made fresh 52 week low at Rs 160.50. HDFC securities in
its recent reports maintained a “sell” rating for the stock with a target price of Rs 147.
Mphasis jumped 2.33% on BSE as the company may witness management buyout. A Consortium led by senior
management of the company and Private Equity (PE) players, are supposedly gearing up funds worth $1.4 billion for
acquiring HP's stake in Mphasis. (Read More)
Ambuja Cements slumped 4.29% on BSE after research house Credit Suisse downgraded the stock to “neutral” with a
target price of Rs 205.
Key Quarterly Results
Larsen & Toubro tumbled 7.46% on BSE as the company registered a fall of 12.46% in Q1 Net at Rs 756.03 crore as
against Rs 863.65 crore for the same quarter in the previous year. However, total income has increased by 3.69% at
Rs 13027.66 crore for quarter against Rs 12563.47 crore YoY. (Result)
Reliance Industries dropped 1.59% on BSE after company’s Net sales declined by 4.6% to Rs 87,645 crore in
Q1FY14 mainly due to 42% fall in revenue from its oil and gas business on year on year basis. However Net profit rose
18.9% at Rs 5,352 crore for the quarter. (Featured Result)
Vakrangee Softwares plunged 1.98% on BSE despite company reported a rise of 61.73% in its Net profit at Rs 33.09
crore for Q1FY14 as compared to Rs 20.46 crore for the same quarter in the previous year. (Read More)
Bajaj Holdings & Investment surged 2.15% on BSE on posting 112.32% rise in Q1 Net at Rs 110.96 crore as
compared to Rs 52.26 crore for the corresponding quarter in the previous year. (Result)
CRISIL reported 22.23% growth in Q2FY14 Net at Rs 52.83 crore as compared to Rs 43.22 crore in Q2FY13. The
stock closed 0.31% up on BSE. (Result)
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1075 and 1261
respectively, while 154 scrips remained unmoved.
The S&P BSE Sensex ended at 20159.12, up 9.27 points or 0.05%. The 30 share index touched a high and a low of
20264.90 and 20065.69 respectively. 19 stocks advanced against 11 declining ones on the benchmark index.
The CNX Nifty gained 2.60 points or 0.04% to settle at 6031.80. The index touched high and low of 6064.15 and
6004.25 respectively. 24 stocks advanced against 26 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 5995.99 and gained 0.04% while S&P BSE Small-cap index hammered
down by 0.32% to 5688.21.
The broader S&P BSE 500 index decreased to 7378.71 (down 0.06%) and CNX 500 index declined to 4631.10 (down
0.04%).
The volatility as denoted by INDIA VIX lost 2.76% at 17.63 from its previous close of 18.13 on Friday.

2. Sectors in action
On the BSE Sectorial front, Automobile (up 1.06%), Banks (up 0.98%) and Information Technology (up 0.73%) were
the top gainers.
Capital Goods (down 5.57%), Oil & Gas (down 1.65%) and Power (down 0.91%) were the top losers.
The Angels and the Devils
Housing Development Finance Corporation Ltd (up 3.17%), Sun Pharmaceutical Industries Ltd (up 2.75%), Mahindra
and Mahindra Ltd (up 2.63%), Bharti Airtel Ltd (up 1.65%) and ICICI Bank (up 1.64%) were the top gainers on the
Sensex.
Larsen And Toubro Ltd (down 7.46%), Bharat Heavy Electricals Ltd (down 7.05%), Tata Steel Ltd (down 2.95%), Oil
and Natural Gas Corporation Ltd (down 2.85%) and Dr. Reddys Laboratories Ltd (down 1.71%) were the top losers on
the Sensex.
Benchmark Drivers
Larsen And Toubro Ltd (-71.42 points), Housing Development Finance Corporation Ltd (44.43 points), Reliance
Industries Ltd (-30.70 points), ICICI Bank (21.38 points) and Oil and Natural Gas Corporation Ltd (-18.17 points) were
the major Sensex drivers today.
On the other end Larsen And Toubro Ltd (-18.09 points), Housing Development Finance Corporation Ltd (12.00
points), Reliance Industries Ltd (-7.81 points), ICICI Bank (5.25 points) and Oil and Natural Gas Corporation Ltd (-4.93
points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6033 for next session. The next support is at 6003 and on upside it has a resistance at
6063 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
23-Jul-2013 5943 5974 6003 6033 6063 6093 6122 -
22-Jul-2013 5964 5992 6011 6039 6057 6085 6104 6031.80
19-Jul-2013 5915 5945 5991 6021 6068 6098 6144 6029.20
S&P BSE Sensex has a pivot at 20163 with first level of support and resistance at 20062 and 20261 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
23-Jul-2013 19862 19964 20062 20163 20261 20362 20460 -
22-Jul-2013 19943 20027 20088 20173 20234 20318 20379 20159.12
19-Jul-2013 19777 19866 19997 20087 20218 20308 20439 20149.85
Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.