DStreet flags fresh record high ahead of F&O expiry

1. D-street flags fresh record high ahead of F&O expiry
Market Snapshot | 27-08-2014 04:20 PM
Bulls resumed the record streak on D-street with Sensex and Nifty flagging fresh lifetime highs at 26599 and 7946.85
respectively. Benchmarks continued to trade in green zone supported by macro-economic developments coupled with
positive global cues. Both barometer gauges added 0.42% at the close on the penultimate day of August F&O expiry.
On BSE sectorial front, Oil & Gas sector topped the charts.
Among the global peers, US markets crept up with S&P 500 closing above the 2000 milestone for the first time
tracking stronger-than-expected reading on consumer confidence data. Additionally, Asian markets too exhibited
positive trades whereas European markets were mostly dipped in red zone.
On currency turf, Rupee traded mostly flat against Dollar after hitting four month high levels in previous session. The
strength of Dollar against other Asian currencies persuaded Rupee to soar further.
On macro-economic front, Government has finally notified the long awaited increase in Foreign Direct Investment
(FDI) limit to 49% from an earlier limit of 26% in the defense sector through approval route. However, the company
should be owned and controlled by resident Indian citizens. The stock of defense companies soared up to 3.7% on
BSE.
In a major development in Oil and Gas sector, Oil Ministry will seek Cabinet's nod for deregulation of diesel prices after
achieving uniformity in retail and global rates. The Ministry has also proposed that the Government and upstream
companies should share under-recoveries (which has now come down to Rs 1.78 a liter) from FY15 onwards. Diesel
fuel might be completely deregulated like petrol by the end of October 2014.
Consequently, Oil and Gas index topped the gainers as the stocks of Oil and Natural Gas Corporation, Oil India,
Bharat Petroleum Corporation Ltd and Indian Oil Corporation were on buyer’s radar.
Among the major stock developments, realty bellwether, DLF Ltd slumped 4.44% on BSE after Supreme Court
(SC) directed the company to submit penalty of Rs 630 crore by Competition Commission of India (CCI) on the grounds
of misuing of dominant position in Gurgaon.
Multi Commodity Exchange of India (MCX) spurted 5% on BSE after Forward Market Commission (FMC) nodded to
Kotak Mahindra Bank (1.6% down) for acquiring up to 15% of equity share capital in MCX.
TVS Motor Company jumped 1.2% to flag new 52 week high at Rs 193.5 on BSE as the company is planning to launch
a new motorcycle in the commuter segment in next six months followed by an all-new Apache in the premium category
with a view to improve its market share.
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1682 and 1447 respectively,
while 139 scrips remained unmoved.
The S&P BSE Sensex ended at 26560.15, up 117.34 points or 0.44%. The 30 share index touched a high and a low
of 26599.12 and 26492.50 respectively. 21 stocks advanced against 9 declining ones on the benchmark index.
The CNX Nifty gained 31.30 points or 0.40% to settle at 7936.05. The index touched high and low of 7946.85 and
7916.55 respectively. 30 stocks advanced against 20 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 9326.59 and gained 0.73% while S&P BSE Small-cap index jumped up by
0.79% to 10253.87.
The broader S&P BSE 500 index increased to 10086.44 (up 0.42%) and CNX 500 index rose to 6355.15 (up 0.42%).
The volatility as denoted by INDIA VIX lost 6.04% at 13.06 from its previous close of 13.90 on Tuesday.
Sectors in action
On the BSE Sectorial front, Oil & Gas (up 0.84%), Automobile (up 0.81%) and Information Technology (up 0.75%)
were the top gainers.
Real Estate (down 1.35%), Power (down 0.61%) and Metals (down 0.21%) were the top losers.

2. The Angels and the Devils
Oil and Natural Gas Corporation Ltd (up 2.31%), ICICI Bank (up 2.05%), Tata Motors Ltd (up 1.70%), Hero MotoCorp
Ltd (up 1.61%) and Bajaj Auto Ltd (up 1.49%) were the top gainers on the Sensex.
Sesa Sterlite Ltd (down 1.67%), NTPC Ltd (down 1.45%), Bharat Heavy Electricals Ltd (down 1.29%), HDFC Bank
(down 0.70%) and Tata Steel Ltd (down 0.41%) were the top losers on the Sensex.
Benchmark Drivers
ICICI Bank (41.08 points), Oil and Natural Gas Corporation Ltd (18.99 points), Tata Motors Ltd (17.80 points), HDFC
Bank (-13.07 points) and Housing Development Finance Corporation Ltd (11.98 points) were the major Sensex drivers
today.
On the other end ICICI Bank (10.81 points), Oil and Natural Gas Corporation Ltd (5.04 points), Tata Motors Ltd (4.67
points), HCL Technologies Ltd (3.92 points) and Housing Development Finance Corporation Ltd (3.32 points) were the
major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7933 for next session. The next support is at 7919 and on upside it has a resistance at
7950 levels.
CNX NiftyCNX Nifty
Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close
28-Aug-2014 7889 7903 7919 7933 7950 7963 7980 -
27-Aug-2014 7820 7841 7873 7894 7926 7947 7979 7936.05
26-Aug-2014 7810 7854 7880 7924 7950 7994 8021 7904.75
S&P BSE Sensex has a pivot at 26551 with first level of support and resistance at 26502 and 26609 respectively.
S&P BSE SensexS&P BSE Sensex
Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close
28-Aug-2014 26395 26444 26502 26551 26609 26657 26715 -
27-Aug-2014 26177 26246 26344 26413 26512 26580 26679 26560.15
26-Aug-2014 26120 26261 26349 26490 26578 26719 26807 26442.81
Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.