Finalaya daily market wrap 04 april 2014

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Information about Finalaya daily market wrap 04 april 2014
Economy & Finance

Published on April 4, 2014

Author: finalaya

Source: slideshare.net

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Sensex sheds 150 points shrugging off Realty rally

Sensex sheds 150 points shrugging off Realty rally Market Snapshot | 04-04-2014 04:21 PM Following yesterday’s southward trend, Indian indices plunged in early deals after making a flat start. Markets prolonged the feeble trades as the session progressed on weak global cues. The sentiments plummeted to such an extent that even smart rally in Realty counters could not prevent the fall . Benchmarks ended the ‘red ride’ near day’s low with Nifty slipping below 6700 mark. On BSE sectorial front, Auto topped the laggards. Among global peers, weak jobless claims data dragged US markets lower after hitting record highs in the early deals. Additionally, most of the Asian indices too remained weak amidst soft lead from Wall-Street. However, European markets traded marginally in green. Back home, on currency front, Rupee stretched its downside journey against Dollar on importers’ dollar demand along with negative local equities that added to the pessimism. In futures trades, INR hit an intra-day high of 60.46/USD and an intra-day low of 60.70/USD. In spot trades, INR hit an intra-day high of 60.17/USD and an intra-day low of 60.39/USD. As per RBI reference rates, INR stood at 60.32/USD. (Read More) On stock specific front, Venus Remedies rallied 20% on BSE as the company has extended its footprint in Latin America with marketing authorization for meropenem from Venezuela, a $6 billion pharmaceutical market. (Read More) Housing Development and Infrastructure Ltd (HDIL) extended gains by 16.23% and made new 52 week high at Rs 70.35 on BSE after Kotak Securities purchased 2128000 shares of the company at an average price of Rs 51.56 via open market route on March 27, 2014. (Read More) Realty major, DLF gained 2.6% on BSE despite Competition Commission of India (CCI) imposing a penalty of Rs 2.4 crore as company was incapable to comply with the regulators’ directions to cease and desist from unfair trade practices. Moreover, the continued non-compliance would extract a penalty of Rs 1 lakh every day. (Read More) Ruchi Soya Industries climbed 3.45% on BSE as the company is planning to enter into the brand ready-to-cook food segment. The company will be launching these products in the next one to two years. (Read More) Kitex Garments zoomed 20% to hit fresh 52 week high at Rs 129.75 on BSE on registering nearly three-fold jump in Q4 Net at Rs 21.08 crore as compared to net profit of Rs 7.76 crore in the same quarter year ago. (Read More) The market breadth on the BSE closed in positive. Advancing and declining stocks were 1717 and 1176 respectively, while 161 scrips remained unmoved. The S&P BSE Sensex ended at 22359.50, down 149.57 points or 0.66%. The 30 share index touched a high and a low of 22525.21 and 22339.40 respectively. 5 stocks advanced against 25 declining ones on the benchmark index. The CNX Nifty lost 41.75 points or 0.62% to settle at 6694.35. The index touched high and low of 6741.85 and 6685.15 respectively. 16 stocks advanced against 34 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved up to 7197.62 and gained 0.37% while S&P BSE Small-cap index jumped up by 0.80% to 7265.05. The broader S&P BSE 500 index decreased to 8316.76 (down 0.37%) and CNX 500 index declined to 5234.50 (down 0.38%). The volatility as denoted by INDIA VIX gained 2.62% at 22.69 from its previous close of 22.11 on Thursday. Sectors in action On the BSE Sectorial front, Real Estate (up 3.37%), Metals (up 0.25%) and Consumer Durables (up 0.21%) were the top gainers. Automobile (down 1.00%), Information Technology (down 0.95%) and Power (down 0.83%) were the top losers. The Angels and the Devils Cipla Ltd (up 1.98%), Tata Steel Ltd (up 0.84%), State Bank of India (up 0.47%), Hindalco Industries Ltd (up 0.44%)

Cipla Ltd (up 1.98%), Tata Steel Ltd (up 0.84%), State Bank of India (up 0.47%), Hindalco Industries Ltd (up 0.44%) and Coal India Ltd (up 0.41%) were the top gainers on the Sensex. Bharat Heavy Electricals Ltd (down 1.95%), NTPC Ltd (down 1.95%), Bharti Airtel Ltd (down 1.74%), Tata Motors Ltd (down 1.50%) and GAIL (India) Ltd (down 1.48%) were the top losers on the Sensex. Benchmark Drivers Tata Consultancy Services Ltd (-18.51 points), Reliance Industries Ltd (-15.98 points), Housing Development Finance Corporation Ltd (-14.52 points), Infosys Ltd (-13.08 points) and Tata Motors Ltd (-12.69 points) were the major Sensex drivers today. On the other end Tata Consultancy Services Ltd (-4.87 points), Reliance Industries Ltd (-4.48 points), Housing Development Finance Corporation Ltd (-4.02 points), Larsen And Toubro Ltd (-3.25 points) and Infosys Ltd (-3.24 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6707 for next session. The next support is at 6672 and on upside it has a resistance at 6729 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 07-Apr-2014 6616 6650 6672 6707 6729 6764 6786 - 04-Apr-2014 6617 6657 6696 6737 6776 6816 6856 6694.35 03-Apr-2014 6690 6707 6730 6747 6770 6786 6809 6736.10 S&P BSE Sensex has a pivot at 22408 with first level of support and resistance at 22291 and 22477 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 07-Apr-2014 22105 22222 22291 22408 22477 22594 22662 - 04-Apr-2014 22127 22248 22379 22500 22630 22751 22881 22359.50 03-Apr-2014 22367 22420 22486 22539 22605 22658 22723 22509.07 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.

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