The Indian stock market indices edged higher and recovered from soft starts, with the Sensex gaining over 200 points to close above 18,500. The recovery of the rupee against the US dollar supported the market. BHEL increased over 8% to lead sectoral gains in capital goods. Globally, US and Asian markets traded firmly while European markets were mixed.

1. Sensex scores double ton on Rupee recovery; BHEL up 8%
Market Summary
23-Aug-2013
Following a soft start, Indian indices took clues from global peers to edge higher and remained in upward journey
amidst volatile trades. Recovery in Rupee against US Dollar gave further impetus to markets persuading Sensex to
score a double ton. Nifty gained over 1% to close above 5470. Among BSE sectorials, Capital Goods was the top
gainer with BHEL soaring over 8%.
On global front, US and Asian indices traded on a firm note whereas European Indices were trading mixed.
Back home, after making record lows for five consecutive sessions, Rupee recovered a bit today, moving to Rs
63.93/USD. The INR had hit a life time low of Rs 65.56/USD yesterday that forced finance minister P Chidambaram to
appeal to investors to stay calm. He assured that the domestic currency's fundamental value is higher and current
valuation is unjustified.
Reliance Infrastructure jumped 3.75% on BSE as the Maharashtra Electricity Regulatory Commission (MERC) allowed
the company to recover past arrears, along with 14.5% per annum carrying cost, at Rs. 925 crore per year,
aggregating to Rs. 5,550 crore over the next 6 years. (Read More)
Reliance Industries (RIL) shined 1.64% after the company and its consortium partner BP has made a new gas
condensate discovery off the east coast of India in the Cauvery basin. (Read More)
Telecom major, Bharti Airtel slipped 1.55% on BSE as the company’s gross debt can expectedly increase by Rs 5,900
crore due to depreciating Rupee against Dollar. (Read More)
Tech Mahindra spurted 7.39% to hit fresh 52 week high at Rs 1374.90 on BSE after Foreign institutional investors
(FIIs) have bought 240,631 shares representing 0.1% stake in the company via open market on August 21. (Read
More)
HDFC Bank surged 2.61% on BSE on raising its benchmark lending rates by 0.25% with effect from today making
home and auto loans costlier. (Read More)
Peninsula Land rallied 9.75% on the reports of buying Great Eastern Mill property from Mahindra Lifespace (down
1.01% on BSE).
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1364 and 1006 respectively,
while 155 scrips remained unmoved.
The S&P BSE Sensex ended at 18519.44, up 206.50 points or 1.13%. The 30 share index touched a high and a low
of 18546.60 and 18210.75 respectively. 23 stocks advanced against 7 declining ones on the benchmark index.
The CNX Nifty gained 63.30 points or 1.17% to settle at 5471.75. The index touched high and low of 5478.80 and
5377.80 respectively. 32 stocks advanced against 18 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 5358.75 and gained 0.91% while S&P BSE Small-cap index jumped up by
0.74% to 5247.51.
The broader S&P BSE 500 index increased to 6685.37 (up 1.03%) and CNX 500 index rose to 4183.65 (up 1.15%).
The volatility as denoted by INDIA VIX lost 11.39% at 25.75 from its previous close of 29.06 on Thursday.
Sectors in action
On the BSE Sectorial front, Capital Goods (up 2.04%), Banks (up 1.91%) and Oil & Gas (up 1.59%) were the top
gainers.
Real Estate (down 1.33%) was the top loser.

2. The Angels and the Devils
Bharat Heavy Electricals Ltd (up 8.10%), Tata Power Company Ltd (up 4.14%), Jindal Steel and Power Ltd (up
3.89%), Tata Steel Ltd (up 3.27%) and Tata Motors Ltd (up 2.85%) were the top gainers on the Sensex.
NTPC Ltd (down 1.60%), Bharti Airtel Ltd (down 1.55%), Cipla Ltd (down 1.43%), Infosys Ltd (down 0.82%) and State
Bank of India (down 0.74%) were the top losers on the Sensex.
Benchmark Drivers
HDFC Bank (34.84 points), Tata Consultancy Services Ltd (33.74 points), ICICI Bank (29.41 points), Reliance
Industries Ltd (27.67 points) and Tata Motors Ltd (17.53 points) were the major Sensex drivers today.
On the other end HDFC Bank (10.81 points), Tata Consultancy Services Ltd (8.90 points), ICICI Bank (7.60 points),
Reliance Industries Ltd (7.14 points) and Tata Motors Ltd (4.80 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5443 for next session. The next support is at 5407 and on upside it has a resistance at
5508 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
26-Aug-2013 5306 5342 5407 5443 5508 5544 5609 -
23-Aug-2013 5137 5196 5302 5360 5467 5525 5632 5471.75
22-Aug-2013 4977 5123 5213 5358 5448 5594 5684 5408.45
S&P BSE Sensex has a pivot at 18426 with first level of support and resistance at 18305 and 18640 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
26-Aug-2013 17969 18090 18305 18426 18640 18761 18976 -
23-Aug-2013 17342 17551 17932 18141 18522 18731 19112 18519.44
22-Aug-2013 16859 17333 17620 18094 18380 18854 19141 18312.94
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