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Finalaya daily market wrap_17 feb 2014

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Information about Finalaya daily market wrap_17 feb 2014
Finance

Published on February 17, 2014

Author: finalaya

Source: slideshare.net

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Sensex ends 97 points up post interim budget
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Sensex ends 97 points up post interim budget Market Snapshot | 17-02-2014 04:21 PM Indian indices made a gap up start tracking the supportive global cues. Markets traded firm but the gains remained capped amidst interim budget announcements in the Parliament. Bulls retained their hold on D-Street and added some gains in late trades to end near day’s high levels. Rally in Banks, Power and Auto stocks persuaded Sensex to rise 97 points. Nifty closed above 6070. On global front US indices edged higher with Nasdaq Composite marking the highest level since July 2000. Asian and European markets too traded jubilantly after a report showed that China’s new credit increased to a record in January. Back home, on currency front, domestic currency strengthened against Dollar on the day of interim budget. In futures trade, INR touched an intra-day high of Rs 61.85/USD and an intra-day low of Rs 62.13/USD. In spot trades, INR made an intra-day high of Rs 61.85/USD and an intra-day low of Rs 62.09/USD. As per RBI reference rate, INR stood at 61.94/USD. (Read More) Interim Budget Finance Minister P. Chidambaram today announced interim budget 2014 of UPA II. Key highlights Fiscal deficit for the current financial year would be contained at 4.6% of GDP as against the budget estimate (BE) 4.9%. The current account deficit (CAD) for FY14 stood at $45 billion. GDP Growth for FY14 is pegged at 4.9%. GDP growth fell to 4.4% from 7.9% in nine quarters. The Fiscal Deficit for FY15 is pegged at 4.1% and Revenue Deficit is pegged at 3%. Rs 555322 crore estimated as plan expenditure; non-plan expenditure pegged at 1207892 crore Govt pegged investment rate at 34.8%; saving rate at 30.1% There was no change in tax slabs. Exports are estimated to grow to 6.4% to $326 billion. Excise duty cut on SUVs from 30% to 20%, on medium cars from 24% to 20%, on Small cars, motor cycles, scooters and commercial vehicles from 12% to 8%. Excise cut of 2% in Capital Goods and Non-Consumer Durables to 10% from 12%. Govt set FY15 fertilizer subsidy at Rs.67900 Cr. Rs 246397 crore allocated for subsidy of food, fertilizer and fuel. The allocation for defence has been enhanced by 10 percent from to Rs 224000 crore. Key Quarterly Results Automobile major, Mahindra & Mahindra Ltd jumped 2.8% on BSE on recording 11.7% rise in Q3 Net at Rs 934.06 crore for the quarter, as compared to Rs 836.19 crore for the same quarter in the previous year. (Featured Result) Nestle India ended marginally down on BSE after posting a slim rise of 1% in Q3FY14 Net at Rs 281.66 crore as compared to Rs 278.92 crore for the same quarter in the previous year. On the consolidated basis, the group’s net grew 4.6 at Rs 1117.13 crore for the quarter as compared to Rs 1067.93 crore for Q3FY13. (Read More) Britannia Industries ended 0.4% down on BSE on registering a jump of 69.12% in Q3FY14 Net at Rs 96.33 crore as compared to Rs 56.96 crore for the same quarter in the previous year. On the consolidated basis, the group’s Net rose 62.11% to Rs 100.56 crore as compared to Rs 62.03 crore for Q3FY13. (Read More) T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1280 and 1415 respectively, while 166 scrips remained unmoved. The S&P BSE Sensex ended at 20464.06, up 97.24 points or 0.48%. The 30 share index touched a high and a low of 20492.43 and 20338.95 respectively. 20 stocks advanced against 10 declining ones on the benchmark index. The CNX Nifty gained 24.95 points or 0.41% to settle at 6073.30. The index touched high and low of 6080.65 and 6038.30 respectively. 30 stocks advanced against 19 declining ones on the index.

S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved down to 6300.67 and lost 0.18% while S&P BSE Small-cap index jumped up by 0.01% to 6280.60. The broader S&P BSE 500 index increased to 7470.83 (up 0.27%) and CNX 500 index rose to 4690.45 (up 0.27%). The volatility as denoted by INDIA VIX lost 4.98% at 15.83 from its previous close of 16.66 on Friday. Sectors in action On the BSE Sectorial front, Banks (up 1.21%), Power (up 0.96%) and Automobile (up 0.76%) were the top gainers. Real Estate (down 0.82%), Consumer Durables (down 0.73%) and Metals (down 0.71%) were the top losers. The Angels and the Devils Tata Power Company Ltd (up 4.81%), Mahindra and Mahindra Ltd (up 2.83%), Dr. Reddys Laboratories Ltd (up 2.31%), ICICI Bank (up 2.13%) and Hero MotoCorp Ltd (up 1.99%) were the top gainers on the Sensex. Coal India Ltd (down 1.59%), Hindalco Industries Ltd (down 1.35%), Reliance Industries Ltd (down 1.22%), Wipro Ltd (down 0.56%) and Bharat Heavy Electricals Ltd (down 0.54%) were the top losers on the Sensex. Benchmark Drivers ICICI Bank (28.19 points), Reliance Industries Ltd (-20.72 points), HDFC Bank (19.56 points), Housing Development Finance Corporation Ltd (15.21 points) and Mahindra and Mahindra Ltd (13.69 points) were the major Sensex drivers today. On the other end ICICI Bank (6.93 points), Reliance Industries Ltd (-5.02 points), HDFC Bank (4.78 points), Housing Development Finance Corporation Ltd (3.69 points) and Mahindra and Mahindra Ltd (3.17 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6064 for next session. The next support is at 6048 and on upside it has a resistance at 6090 levels. CNX Nifty Eff. Date 18-Feb-2014 17-Feb-2014 14-Feb-2014 S3 6005 5931 5860 S2 6022 5958 5926 S1 6048 6003 5963 PIVOT 6064 6030 6029 R1 6090 6075 6067 R2 6106 6102 6132 R3 6132 6147 6170 Actual Close 6073.30 6048.35 S&P BSE Sensex has a pivot at 20432 with first level of support and resistance at 20371 and 20525 respectively. S&P BSE Sensex Eff. Date 18-Feb-2014 17-Feb-2014 14-Feb-2014 S3 20218 19970 19732 Follow us on S2 20278 20060 19948 S1 20371 20213 20071 PIVOT 20432 20303 20287 R1 20525 20456 20410 R2 20585 20546 20626 R3 20678 20699 20749 Actual Close 20464.06 20366.82 This content is generated at www.finalaya.com and is governed by the Terms of Use.

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