The Indian stock market snapped its four-day losing streak, with the Sensex closing marginally higher. Tata Steel was the top gainer despite posting losses last quarter. United Breweries and United Spirits rose significantly after receiving approvals for transactions. Sun Pharma fell after its subsidiary Taro's quarterly profits disappointed investors. Market breadth was positive with more advancing stocks than declining.

1. Choppy markets snap 4-day losing streak; Tata Steel shines
Market Summary
24-May-2013
After yesterday’s rout, markets started marginally up and traded range bound around yesterday's close before finally
closing in green with marginal gains. The choppy session saw Sensex snapping four day losing streak to close above
19700. Tata Steel led the gainers despite posting losses in Q4.
On global front, US markets had a mixed session. While Nikkei 225 bounced back after yesterday’s crash, other Asian
indices traded on mixed note. European markets were mostly in negative territory.
Back home, United Breweries Holdings soared 9.93% on BSE after Karnataka High Court approved its stake sale
plans to Diageo and Religare. United Spirits also spiked 6.55% to touch a fresh record high of Rs 2585 on BSE.
Continuing with yesterday’s crash, Wockhardt tanked 6.50% on BSE as US regulator has raised an import alert on the
company's Export oriented Unit plant in Aurangabad which as per the chairman of company will affect its business by
USD 100 million. Research Houses, Macquarie and Citigroup has cut the target price of the stock to Rs 1680 and Rs
1620 respectively.
Sun Pharmaceutical Industries sank 3.67%on BSE as its subsidiary Taro's March Quarter operating profit disappoints
street. The stock was the top loser on both Sensex and Nifty.
Jaypee Infratech jumped 1.73% on BSE after the company sold 300 acres land in Greater Noida to realty firm
Gaursons for Rs 1500 crore.
Key Quarterly Results
Tata Steel shined 4.56% on BSE despite its Q4 Net fell 16.10% to Rs 1309.21 crore. However, total income has
increased by 16.38% to Rs 11245.27 crore as against Rs 9662.36 crore year on year. The stock was the top gainer on
both Sensex and Nifty. (Featured Result)
Bharat Heavy Electricals (BHEL) fell 1.51% on BSE after its Net dived 4.21% to Rs 3237.54 crore in Q4FY13 as
compared to net profit of Rs 3379.81 crore in the same quarter previous year. (News)
Orchid Chemicals & Pharmaceuticals Ltd dived 1.51% on BSE after posting a steep decline of 744% in Q4 Net with a
loss of Rs 132.26 crore. (Result)
Hindustan Copper surged 2.72% on BSE on registering 37% rise in Q4 Net at Rs 188 crore. (Result)
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1227 and 1119 respectively,
while 152 scrips remained unmoved.
The S&P BSE Sensex ended at 19704.33, up 30.00 points or 0.15%. The 30 share index touched a high and a low of
19833.14 and 19568.49 respectively. 15 stocks advanced against 15 declining ones on the benchmark index.
The CNX Nifty gained 16.50 points or 0.28% to settle at 5983.55. The index touched high and low of 6015.30 and
5936.80 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 6387.13 and gained 0.37% while S&P BSE Small-cap index jumped up by
0.30% to 5992.46.
The broader S&P BSE 500 index increased to 7448.78 (up 0.35%) and CNX 500 index rose to 4685.60 (up 0.37%).
The volatility as denoted by INDIA VIX lost 5.50% at 17.70 from its previous close of 18.73 on Thursday.
Sectors in action
On the BSE Sectorial front, Consumer Durables (up 1.86%), Capital Goods (up 1.61%) and Metals (up 1.61%) were
the top gainers.
Healthcare (down 1.28%), Information Technology (down 0.74%) and Automobile (down 0.04%) were the top losers.

2. The Angels and the Devils
Tata Steel Ltd (up 4.56%), Tata Power Company Ltd (up 3.75%), Larsen And Toubro Ltd (up 2.70%), ICICI Bank (up
2.60%) and Sterlite Industries (India) Ltd (up 1.63%) were the top gainers on the Sensex.
Sun Pharmaceutical Industries Ltd (down 3.67%), Hindalco Industries Ltd (down 1.70%), Cipla Ltd (down 1.63%), Tata
Consultancy Services Ltd (down 1.59%) and Bharat Heavy Electricals Ltd (down 1.51%) were the top losers on the
Sensex.
Benchmark Drivers
ICICI Bank (41.94 points), Larsen And Toubro Ltd (25.21 points), Sun Pharmaceutical Industries Ltd (-18.19 points),
Tata Consultancy Services Ltd (-16.63 points) and ITC Ltd (-15.14 points) were the major Sensex drivers today.
On the other end ICICI Bank (11.02 points), Larsen And Toubro Ltd (6.41 points), Sun Pharmaceutical Industries Ltd (-
4.62 points), ITC Ltd (-4.31 points) and Tata Consultancy Services Ltd (-4.08 points) were the major Nifty movers
today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5979 for next session. The next support is at 5942 and on upside it has a resistance at
6020 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
27-May-2013 5863 5900 5942 5979 6020 6057 6099 -
24-May-2013 5796 5876 5921 6001 6047 6127 6173 5983.55
23-May-2013 5990 6032 6063 6106 6137 6179 6210 5967.05
S&P BSE Sensex has a pivot at 19702 with first level of support and resistance at 19571 and 19835 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
27-May-2013 19306 19437 19571 19702 19835 19967 20100 -
24-May-2013 19137 19386 19530 19779 19923 20172 20316 19704.33
23-May-2013 19749 19875 19969 20094 20188 20314 20408 19674.33
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