Sensex tanks 455 points on Subbarao's comments; FY13 GDP at 10-yr low

1. Sensex tanks 455 points on Subbarao's comments; FY13 GDP at 10-yr low
Market Summary
31-May-2013
Snapping four days winning streak, Indian equity markets crashed today amid weak global cues. Benchmarks started
in red and continued the downfall to finally close near day’s low levels. Sensex shed more than 450 points whereas
Nifty closed below 6K. Market sentiments battered on GDP tumbling to 10 years low in FY13. Moreover, RBI governor
also expressed his pessimism about country's wide current-account deficit (CAD) and high retail inflation. Market
participants took it as a hint against further rate cuts.
India’s Gross domestic product (GDP), climbed to 4.8% in Q4FY13 as against 4.7% growth (revised) in the previous
quarter. For the full fiscal year 2013, GDP stood at 5%, which is lowest in 10-years. (News)
Rupee has weakened further against US dollar to touch 11 months low at the level of 56.4958. The RBI reference rate
made a low of 56.9195 in July 2012.
Jet Airways dropped 7.01% on BSE as the promoters have offloaded 4317697 equity shares in a block deal in order to
meet the minimum public shareholding norms of SEBI.
Key Quarterly Results
Steel Authority of India (SAIL) sank 5.16% to make fresh 52 week low at Rs 55.80 on BSE on reporting a decline of
71.68% in Q4 Net profit at Rs 446.53 crore. (News)
Suzlon Energy tanked 9.89% to hit fresh 52 week low at Rs 11.74 on BSE on reporting a steep decline of 164% to Net
loss of Rs 815.93 crore in Q4FY13 as compared to Net loss of Rs 309.25 crore YoY. (Result)
DLF slumped 5.41% on BSE on registering a fall of 32.59% in Q4 Net profit at Rs 196.06 crore. (Result)
Tata Power dipped 1.16% on BSE despite posting 71% jump in Q4 Net at Rs 200 crores. (Featured Result)
Aurobindo Pharma dived 3.80% on BSE despite reporting a rise of 87.09% in Q4 Net at Rs 163.54 crore. (Result)
Kingfisher Airlines (KFA) tumbled 4.89% on BSE as March quarter loss widened 86 % to Rs 2141.8 crore year-on-
year.
United Breweries jumped 3.06% on BSE despite its Net Profit dipped by 19.64% to Rs 5.85 crore in Q4. (Result)
The market breadth on the BSE closed in negative. Advancing and declining stocks were 818 and 1612 respectively,
while 119 scrips remained unmoved.
The S&P BSE Sensex ended at 19760.30, down 455.10 points or 2.25%. The 30 share index touched a high and a
low of 20191.29 and 19730.55 respectively. 3 stocks advanced against 27 declining ones on the benchmark index.
The CNX Nifty lost 138.10 points or 2.26% to settle at 5985.95. The index touched high and low of 6106.25 and
5975.55 respectively. 5 stocks advanced against 45 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 6389.47 and lost 1.33% while S&P BSE Small-cap index hammered
down by 1.56% to 5943.46.
The broader S&P BSE 500 index decreased to 7441.89 (down 1.88%) and CNX 500 index declined to 4681.45 (down
1.94%).
The volatility as denoted by INDIA VIX gained 5.92% at 16.99 from its previous close of 16.04 on Thursday.
Sectors in action
On the BSE Sectorial front, Information Technology (up 0.87%) was the top gainer.
Real Estate (down 3.38%), Oil & Gas (down 2.71%) and Banks (down 2.46%) were the top losers.

2. The Angels and the Devils
Infosys Ltd (up 2.79%), Sterlite Industries (India) Ltd (up 2.58%) and Tata Consultancy Services Ltd (up 0.07%) were
the top gainers on the Sensex.
Bharti Airtel Ltd (down 4.86%), GAIL (India) Ltd (down 4.26%), Jindal Steel and Power Ltd (down 4.07%), ITC Ltd
(down 4.06%) and Hindalco Industries Ltd (down 3.95%) were the top losers on the Sensex.
Benchmark Drivers
ITC Ltd (-94.78 points), Reliance Industries Ltd (-64.17 points), Housing Development Finance Corporation Ltd (-61.67
points), HDFC Bank (-52.89 points) and ICICI Bank (-39.06 points) were the major Sensex drivers today.
On the other end ITC Ltd (-23.90 points), Reliance Industries Ltd (-16.28 points), Housing Development Finance
Corporation Ltd (-15.85 points), HDFC Bank (-14.08 points) and Infosys Ltd (10.29 points) were the major Nifty movers
today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6023 for next session. The next support is at 5939 and on upside it has a resistance at
6070 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
03-Jun-2013 5808 5892 5939 6023 6070 6153 6200 -
31-May-2013 6025 6048 6086 6110 6148 6172 6209 5985.95
30-May-2013 6019 6044 6074 6100 6130 6155 6185 6124.05
S&P BSE Sensex has a pivot at 19894 with first level of support and resistance at 19597 and 20058 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
03-Jun-2013 19136 19433 19597 19894 20058 20355 20518 -
31-May-2013 19915 19991 20103 20179 20291 20366 20479 19760.30
30-May-2013 19884 19965 20056 20136 20228 20308 20400 20215.40
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