Finalaya daily mawrap_20mar2014

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Information about Finalaya daily mawrap_20mar2014
Finance

Published on March 20, 2014

Author: finalaya

Source: slideshare.net

Yellen's hawkish comments drag indices in red; Nifty cracks below 6500 Market Snapshot | 20-03-2014 04:21 PM Indian indices made a marginally down start as Yellen’s comments over Fed taper rattled the global markets. Markets continued the weak trades as depreciation in Rupee added to the worries. Both frontline gauges ended in negative terrain with Nifty breaching the crucial 6500 on the lower side. On BSE sectorial front, Realty was the top laggard. On the other hand, IT index recuperated from previous session’s heavy fall as domestic currency depreciated. Among global peers, US indices slipped on Fed Chairwoman’s comments that rate hikes could happen about six months after the Fed wraps up bond purchases. Fed added that it will continue tapering, its monthly bond buying program by another $10 billion, to $55 billion a month. Bearish cues from Wall-Street, dragged Asian and European indices into deep red with Nikkei sinking to 6-week low. Back home, on currency front, Rupee weakened against Dollar on global cues. In futures trades, INR hit an intra-day high of 61.14/USD and an intra-day low of 61.49/USD. In spot trades, INR hit an intra-day high of 61.06/USD and an intra-day low of 61.38/USD. As per RBI reference rate, INR stood at 61.13/USD. (Read More) On stock-specific front, Oil marketing companies (OMCs) – Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Oil India Ltd (OIL) slumped 1-4% on BSE as the companies may have to pay much more on under-recoveries front in FY14. SKS Microfinance jumped 2.1% on BSE on completing 10th securitization transaction of FY14 worth Rs 26.73 crore. Consequently, the total sum of securitizations completed for FY14 (YTD) stood at Rs 1377.94 crore. (Read More) Ashoka Buildcon rallied 9% on BSE on finance ministry’s decision of deferring premium payment to National Highway Authority of India (NHAI) on not having enough funds after servicing their debt and other obligations. Sunteck Realty tanked 4.8% on BSE after Ajay Piramal led Akshar Fincom acquired over 20.65 lakh shares or 3.5% stake in the company for around Rs 65 crore. (Read More) T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1337 and 1565 respectively, while 149 scrips remained unmoved. The S&P BSE Sensex ended at 21740.09, down 92.77 points or 0.42%. The 30 share index touched a high and a low of 21853.25 and 21704.66 respectively. 8 stocks advanced against 22 declining ones on the benchmark index. The CNX Nifty lost 40.95 points or 0.63% to settle at 6483.10. The index touched high and low of 6523.65 and 6473.25 respectively. 11 stocks advanced against 39 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved down to 6715.30 and lost 0.36% while S&P BSE Small-cap index jumped up by 0.06% to 6726.67. The broader S&P BSE 500 index decreased to 7969.70 (down 0.53%) and CNX 500 index declined to 5014.80 (down 0.58%). The volatility as denoted by INDIA VIX gained 0.18% at 16.91 from its previous close of 16.88 on Wednesday. Sectors in action On the BSE Sectorial front, Information Technology (up 1.69%) and Healthcare (up 0.17%) were the top gainers. Real Estate (down 2.23%), Capital Goods (down 1.94%) and Power (down 1.62%) were the top losers. The Angels and the Devils Tata Consultancy Services Ltd (up 3.28%), Hindustan Unilever Ltd (up 2.01%), Wipro Ltd (up 1.09%), Infosys Ltd (up 0.96%) and Sun Pharmaceutical Industries Ltd (up 0.91%) were the top gainers on the Sensex. Bharat Heavy Electricals Ltd (down 2.74%), GAIL (India) Ltd (down 2.67%), Housing Development Finance Corporation Ltd (down 2.12%), Larsen And Toubro Ltd (down 2.12%) and Axis Bank (down 2.11%) were the top losers on the Sensex.

Benchmark Drivers Tata Consultancy Services Ltd (45.64 points), Housing Development Finance Corporation Ltd (-31.62 points), Larsen And Toubro Ltd (-25.52 points), ITC Ltd (-23.52 points) and Infosys Ltd (17.81 points) were the major Sensex drivers today. On the other end Tata Consultancy Services Ltd (11.72 points), Housing Development Finance Corporation Ltd (-8.53 points), Larsen And Toubro Ltd (-6.51 points), ITC Ltd (-6.28 points) and HDFC Bank (-4.58 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6493 for next session. The next support is at 6463 and on upside it has a resistance at 6513 levels. CNX Nifty Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 21-Mar-2014 6413 6443 6463 6493 6513 6544 6564 - 20-Mar-2014 6471 6489 6506 6524 6542 6559 6577 6483.10 19-Mar-2014 6407 6452 6485 6530 6562 6607 6639 6524.05 S&P BSE Sensex has a pivot at 21766 with first level of support and resistance at 21679 and 21827 respectively. S&P BSE Sensex Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 21-Mar-2014 21530 21617 21679 21766 21827 21915 21976 - 20-Mar-2014 21664 21723 21778 21837 21892 21951 22006 21740.09 19-Mar-2014 21476 21631 21732 21886 21987 22142 22242 21832.86 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.

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