- Indian markets rebounded from early losses to end marginally higher, as the Sensex closed up 28 points, while the rupee hit another record low of Rs. 69 against the dollar amid global economic jitters. - The rupee's free fall and weak global cues led to a bloodbath in Indian markets in early trading, with the Sensex falling over 500 points, but markets recouped losses later in the day led by IT stocks. - The government is considering setting up a task force on currency swap agreements to stabilize the rupee.

1. Markets rebound from early losses; Rupee sustains free fall...touches 69
Market Summary
28-Aug-2013
A day before F&O expiry, bloodbath continued on Dalal Street amidst jittery global trades and disheartening Rupee
moves. Sensex crashed over 500 points in morning session and Nifty made a low below 5120. Gold and silver prices
soared to touch new highs above Rs 34000 and Rs 59000 respectively. However, in late trades, markets recouped
early losses on the back of gains in IT index and ended marginally in green.
Among global peers, nervousness over Syria dragged all US, Asian and European markets lower. Dow ended at a two
month low on concerns of possible US action against Syria.
Back home, the domestic currency continued to bleed and crashed to a yet another record low of Rs 69 against Dollar
in future trades. Trading on a highly volatile mode, INR made an intraday low of Rs 66.75 and a high of Rs 69 per
USD. In spot trades, the Rupee touched a new low at Rs 68.75/USD. Against Pound Sterling, Rupee hit another life
time low of Rs 109.49 per GBP in future trades.
Alarmed with the currency moves, Government is considering to set up task force on currency swap pacts. A currency
swap deal takes place between the central banks of two partner countries, under which banks of both the countries
would give each other the same currency to stabilize their local currencies. (Read More)
Among stock specific developments, Pharmaceutical major, Ranbaxy Laboratories rallied 10.61% on BSE on the
reports of plans to launch Generic Diovan by the end of Q3 or Q4 CY13. The company had applied for USFDAnod for
Diovan in September 2012. (Read More)
Muthoot Finance gained 1.80% on BSE as the company is planning to raise Rs 300 crore through issue of secured
non-convertible debentures (NCDs) and has filed the draft prospectus with SEBI for public issuance of the same.
(Read More)
Reliance Capital shined 1.35% on BSE on plans of investing Rs 100 crore in a wind energy joint venture (JV). (Read
More)
The market breadth on the BSE closed in negative. Advancing and declining stocks were 793 and 1376 respectively,
while 142 scrips remained unmoved.
The S&P BSE Sensex ended at 17996.15, up 28.07 points or 0.16%. The 30 share index touched a high and a low of
18101.84 and 17448.71 respectively. 19 stocks advanced against 11 declining ones on the benchmark index.
The CNX Nifty lost 2.45 points or 0.05% to settle at 5285.00. The index touched high and low of 5317.70 and 5118.85
respectively. 28 stocks advanced against 21 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 5224.13 and lost 1.03% while S&P BSE Small-cap index hammered
down by 1.04% to 5145.47.
The broader S&P BSE 500 index decreased to 6476.55 (down 0.29%) and CNX 500 index declined to 4047.70 (down
0.32%).
The volatility as denoted by INDIA VIX gained 10.06% at 32.38 from its previous close of 29.42 on Tuesday.
Sectors in action
On the BSE Sectorial front, Information Technology (up 2.68%), Metals (up 1.88%) and Healthcare (up 1.16%) were
the top gainers.
Consumer Durables (down 2.97%), Real Estate (down 1.40%) and Banks (down 1.28%) were the top losers.
The Angels and the Devils
Jindal Steel and Power Ltd (up 3.69%), Tata Consultancy Services Ltd (up 3.68%), Wipro Ltd (up 3.63%), Tata Power
Company Ltd (up 3.29%) and Hindalco Industries Ltd (up 2.92%) were the top gainers on the Sensex.

2. Oil and Natural Gas Corporation Ltd (down 5.98%), Housing Development Finance Corporation Ltd (down 4.77%),
GAIL (India) Ltd (down 3.45%), Coal India Ltd (down 2.29%) and Bharti Airtel Ltd (down 2.21%) were the top losers on
the Sensex.
Benchmark Drivers
Housing Development Finance Corporation Ltd (-57.54 points), Tata Consultancy Services Ltd (47.20 points), Infosys
Ltd (36.13 points), Oil and Natural Gas Corporation Ltd (-31.56 points) and Tata Motors Ltd (16.72 points) were the
major Sensex drivers today.
On the other end Housing Development Finance Corporation Ltd (-14.73 points), Tata Consultancy Services Ltd
(12.17 points), Infosys Ltd (8.82 points), Oil and Natural Gas Corporation Ltd (-8.01 points) and Reliance Industries Ltd
(4.56 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5241 for next session. The next support is at 5163 and on upside it has a resistance at
5362 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
29-Aug-2013 4964 5042 5163 5241 5362 5439 5561 -
28-Aug-2013 5079 5177 5232 5330 5385 5483 5538 5285.00
27-Aug-2013 5370 5412 5444 5487 5519 5561 5593 5287.45
S&P BSE Sensex has a pivot at 17849 with first level of support and resistance at 17596 and 18249 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
29-Aug-2013 16943 17196 17596 17849 18249 18502 18902 -
28-Aug-2013 17234 17578 17773 18117 18312 18656 18851 17996.15
27-Aug-2013 18216 18352 18455 18592 18695 18831 18934 17968.08
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