Sensex settles above 26K on heavy rainfall forecast

1. Sensex settles above 26K on heavy rainfall forecast
Market Snapshot | 30-07-2014 04:21 PM
After Eid break, Indian benchmarks traded in red at start amidst the cautiousness on penultimate day of July F&O
expiry. The soft trades in global peers too supported the bears to drag the benchmarks further. In noon trades, IMD
forecast of heavy rainfall in next 48 hours persuaded the bulls to ride the markets towards positive terrain. Both
barometer gauges trimmed losses to settle in green zone with Sensex above 26K milestone. On BSE sectorial front,
Bankex topped the gainers.
Moving on to the global markets, US markets ended in red after the European Union and the U.S. announced a new
round of sanctions against Russia. Asian and European markets were exhibiting mixed trades.
Throwing light on the currency trades, Rupee trimmed the early losses to trade marginally up against Dollar in futures
trade. It marked an intraday high of Rs 60.40/USD and an intraday low of Rs 60.54/USD. In spot trades, INR hit an
intraday high of Rs 60.09/USD and an intraday low of Rs 60.26/USD.
On macro-economic front, giving some signs of relief, Indian Meteorological Department (IMD) stated that monsoon
may remain strong till August 15 in the country. Except northwest part of the country, the IMD is expecting heavy
rainfall in other parts in next 48 hours.
Key Quarterly Results
Bharti Airtel rallied 5.26% to flag fresh 52 week high at Rs 373.9 on BSE after its June quarter Net zoomed 125.32% to
Rs 2160.40 crore as compared to Rs 958.80 crore for the same period a year ago. On consolidated basis, group’s Net
spiked 61% to Rs 1108.50 crore for the quarter as compared to Rs 688.90 crore for the June quarter in the previous
year.
Dr Reddys Laboratories jumped 2% after its Q1FY15 Net rolled 9 folds up at Rs 602.75 crore as compared to Rs 64.86
crore for corresponding quarter a year ago. On consolidated basis, group’s Net spurted 52.5% to Rs 550.4 crore for
Q1FY15 as compared to Rs 360.93 crore for Q1FY14.
Ranbaxy Laboratories ended marginally down after marking new 52 week high at Rs 596.85 on BSE. The company
registered a Net profit of Rs 755.12 crore in Q1FY15 as compared to a Net loss of Rs 608.80 crore for the same
quarter in the previous year. On consolidated basis, group posted a Net loss of Rs 185.92 crore for the quarter as
compared to net loss of Rs 524.24 crore for Q1FY14.
Bank of India ended marginally down after its June quarter Net dipped 16.43% to Rs 805.7 crore as compared to Rs
964.18 crore for the June quarter of previous year. Bank’s gross NPA rose to 3.28% for the quarter as compared to
3.04% in the same quarter of the previous year.
IDFC gained 1.7% on BSE despite reporting a fall of 12.72% in Q1FY15 Net at Rs 449.07 crore as compared to Rs
514.54 crore for the same quarter in the previous year. On consolidated basis, group’s Net declined 13.55% to Rs
481.74 crore for the quarter as compared to Rs 557.31 crore for Q1FY14.
Lupin climbed 5% to hit new 52 week high at Rs 1192.1 on BSE after recording a growth of 55.77% in Q1 Net at Rs
624.74 crore as compared to Rs 401.06 crore for same quarter in previous fiscal.
Bharat Forge gained 1.42% on BSE after its Q1 Net surged 60% to Rs 145 crore as compared to Rs 90.6 crore for the
same quarter in previous fiscal.
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1492 and 1535
respectively, while 139 scrips remained unmoved.
The S&P BSE Sensex ended at 26087.42, up 96.19 points or 0.37%. The 30 share index touched a high and a low of
26113.48 and 25850.04 respectively. 23 stocks advanced against 7 declining ones on the benchmark index.
The CNX Nifty gained 42.70 points or 0.55% to settle at 7791.40. The index touched high and low of 7798.70 and
7707.60 respectively. 37 stocks advanced against 13 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 9171.51 and gained 0.35% while S&P BSE Small-cap index hammered
down by 0.02% to 9964.93.

2. The broader S&P BSE 500 index increased to 9884.83 (up 0.50%) and CNX 500 index rose to 6232.60 (up 0.53%).
The volatility as denoted by INDIA VIX lost 3.00% at 13.89 from its previous close of 14.32 on Monday.
Sectors in action
On the BSE Sectorial front, Banks (up 1.57%), Consumer Durables (up 1.47%) and Healthcare (up 1.35%) were the
top gainers.
Capital Goods (down 4.68%) and Information Technology (down 0.25%) were the top losers.
The Angels and the Devils
Bharti Airtel Ltd (up 5.26%), Hero MotoCorp Ltd (up 2.69%), ICICI Bank (up 2.62%), Hindalco Industries Ltd (up 2.53%)
and Dr. Reddys Laboratories Ltd (up 2.01%) were the top gainers on the Sensex.
Larsen And Toubro Ltd (down 7.32%), Tata Power Company Ltd (down 1.53%), Wipro Ltd (down 0.85%), State Bank
of India (down 0.78%) and Tata Steel Ltd (down 0.48%) were the top losers on the Sensex.
Benchmark Drivers
Larsen And Toubro Ltd (-115.56 points), ICICI Bank (50.58 points), Housing Development Finance Corporation Ltd
(31.24 points), Bharti Airtel Ltd (30.01 points) and HDFC Bank (19.94 points) were the major Sensex drivers today.
On the other end Larsen And Toubro Ltd (-28.33 points), ICICI Bank (12.55 points), Housing Development Finance
Corporation Ltd (9.09 points), Bharti Airtel Ltd (7.79 points) and HDFC Bank (5.17 points) were the major Nifty movers
today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7766 for next session. The next support is at 7733 and on upside it has a resistance at
7824 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-Jul-2014 7642 7675 7733 7766 7824 7857 7915 -
30-Jul-2014 7637 7680 7714 7757 7792 7834 7869 7791.40
28-Jul-2014 7653 7701 7746 7793 7838 7886 7930 7748.70
S&P BSE Sensex has a pivot at 26017 with first level of support and resistance at 25920 and 26184 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-Jul-2014 25657 25754 25920 26017 26184 26280 26447 -
30-Jul-2014 25585 25743 25867 26024 26149 26306 26430 26087.42
28-Jul-2014 25671 25839 25964 26132 26257 26425 26550 25991.23
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