Indian stock indices opened higher and reached record levels, with the Nifty breaching 6,700 for the first time. However, both indices pared some gains later in the day as investors took profits. The markets were supported by a stronger rupee and gains in global markets. Key banking stocks rose after the RBI extended a deadline for implementing capital rules. Specific stocks like Lakshmi Vilas Bank and India Cements rose on corporate news. Most sectors ended higher, with power and real estate among the top performers.

1. D-Street witnesses yet another record high; Nifty retreats after kissing 6700
Market Snapshot | 28-03-2014 04:21 PM
To extend the record setting spree, Indian indices made a gap up start with Sensex soaring over 100 points at open.
Later, markets pared some of the gains as investors opted to book profit on the record levels. Sentiments remained
sanguine as Rupee strengthened to 60/$ levels, marking 8 months high against Dollar. Both frontline gauges marked
record highs with Nifty breaching 6700 milestone for the first time in history and ended near record levels. Among BSE
sectorials, Power sector enlightened the most by rallying 3%.
On global front, US markets extended previous session’s losses as investors were concerned that fed may start
raising rates sooner than expected citing improvement in economic indicators. On the flip side, Asian and European
markets edged higher as China's major banks reported robust earnings for 2013.
Back home, on currency front, Rupee exhibited a strong performance by marking an eight month high at 60/$ levels
due to continuous foreign inflows and record high of domestic equities. In futures trades, INR hit an intra-day high of
60.18/USD and an intra-day low of 60.59/USD. In spot trades, INR hit an intra-day high of 59.93/USD and an intra-day
low of 60.18/USD. As per RBI reference rate, INR stood at 60.09/USD. (Read More)
On stock specific front, banking stocks zoomed 2-9% as Reserve Bank of India (RBI) extended the deadline for
banks by a year to 31 March 2019 for implementing Basel III capital planning rules citing the potential stresses on the
asset quality and profitability of the banks. (What’s Hot)
Lakshmi Vilas Bank soared 5% on BSE on the plans of raising Rs 505 crore via rights issue and has filed a draft
letter with the Securities and Exchange Board of India seeking in-principle approval of the issue. (Read More)
India Cements spiked 9.18% on BSE after Supreme Court permitted company’s owned Chennai Super Kings (CSK)
to play in the IPL-7. (Read More)
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1753 and 1063 respectively,
while 162 scrips remained unmoved.
The S&P BSE Sensex ended at 22339.97, up 125.60 points or 0.57%. The 30 share index touched a high and a low
of 22363.97 and 22185.11 respectively. 19 stocks advanced against 11 declining ones on the benchmark index.
The CNX Nifty gained 54.15 points or 0.82% to settle at 6695.90. The index touched high and low of 6702.60 and
6643.80 respectively. 41 stocks advanced against 8 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 7010.29 and gained 1.46% while S&P BSE Small-cap index jumped up by
1.19% to 6999.06.
The broader S&P BSE 500 index increased to 8255.55 (up 1.04%) and CNX 500 index rose to 5202.15 (up 1.09%).
The volatility as denoted by INDIA VIX gained 1.42% at 18.63 from its previous close of 18.37 on Thursday.
Sectors in action
On the BSE Sectorial front, Power (up 3.02%), Real Estate (up 1.61%) and Metals (up 1.52%) were the top gainers.
There was no loser among BSE sectorials.
The Angels and the Devils
Tata Power Company Ltd (up 4.54%), Hindalco Industries Ltd (up 4.07%), State Bank of India (up 3.41%), NTPC Ltd
(up 3.29%) and Bharti Airtel Ltd (up 2.19%) were the top gainers on the Sensex.
Bajaj Auto Ltd (down 0.50%), Oil and Natural Gas Corporation Ltd (down 0.35%), HDFC Bank (down 0.27%), ITC Ltd
(down 0.26%) and Housing Development Finance Corporation Ltd (down 0.22%) were the top losers on the Sensex.
Benchmark Drivers
Reliance Industries Ltd (24.74 points), State Bank of India (22.39 points), Infosys Ltd (16.56 points), Axis Bank (11.79

2. Reliance Industries Ltd (24.74 points), State Bank of India (22.39 points), Infosys Ltd (16.56 points), Axis Bank (11.79
points) and Bharti Airtel Ltd (11.04 points) were the major Sensex drivers today.
On the other end Reliance Industries Ltd (8.21 points), State Bank of India (6.00 points), Infosys Ltd (4.62 points), Axis
Bank (2.93 points) and Ultratech Cement Ltd (2.91 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6681 for next session. The next support is at 6659 and on upside it has a resistance at
6718 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
31-Mar-2014 6600 6622 6659 6681 6718 6740 6777 -
28-Mar-2014 6528 6564 6603 6638 6677 6713 6752 6695.90
27-Mar-2014 6532 6556 6579 6603 6626 6650 6673 6641.75
S&P BSE Sensex has a pivot at 22296 with first level of support and resistance at 22229 and 22408 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
31-Mar-2014 22050 22117 22229 22296 22408 22475 22586 -
28-Mar-2014 21890 21992 22103 22205 22317 22419 22530 22339.97
27-Mar-2014 21868 21944 22020 22096 22171 22248 22323 22214.37
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