Finalaya daily wrap 10 mar 2014

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Information about Finalaya daily wrap 10 mar 2014

Published on March 10, 2014

Author: finalaya

Source: slideshare.net

Sensex ends flat after surpassing 22K for the first time; Nifty holds 6500 Market Snapshot | 10-03-2014 04:22 PM Indian indices witnessed cautious trades amidst pessimistic cues from global markets and dipped below previous close after trading in green zone for some time. However, benchmarks recovered the lost ground and choppy Sensex surpassed the 22K mark for the first time in history to hit an all-time high of 22023.98. Both frontline gauges continued the impulsive journey to end marginally in green. Among BSE sectorials, Capital Goods was the top gainer whereas IT index topped the laggards. On global front, US indices exhibited mixed trades as Ukraine crisis intensified. Additionally, Asian and European indices also traded in negative terrain on weak cues from Wall-Street and disappointing macro-economic numbers of China and Japan. Back home, on currency front, Rupee recuperated in late trades to continue the winning streak against Dollar after making a soft start. In futures trades, INR hit an intra-day high of 61.14/USD and an intra-day low of 61.57/USD. In spot trades, INR hit an intra-day high of 60.97/USD and an intra-day low of 61.33/USD. As per RBI reference rate, INR stood at 61.19/USD. On stock-specific front, Reliance industries Ltd ended 2% up at Rs 885.8 after surpassing a crucial milestone of 900 per share intraday on reports that the Government will notify higher gas price this month. Stocks of banking license contenders – L&T holdings. Reliance Capital, Bajaj Finserv, LIC Housing Finance climbed up to 3.8% in volatile market after RBI Governor Raghuram Rajan said that the central bank would take a decision on the banking license in the next few weeks, subject to approval of the Election Commission. SPML Infra rallied 10% on BSE on bagging two new orders worth Rs 721 crore from Bhavnagar Irrigation Project Division, Gujarat and from South Bihar Power Distribution Company, Patna. (Read More) IT major, HCL Info systems zoomed 20% on BSE on the back of multiple bulk deals resulting exchange of 20.53 million shares on the counter, representing 9% of the total equity of company. Pharmaceutical bellwether, Sun Pharmaceutical Ltd plunged 2.65% on BSE after the US Food and Drug Administration said that the company voluntarily recalled 2528 bottles of its generic version of diabetes drug Glumetza from US-based Santarus Inc. Another pharma major, Ranbaxy Laboratories slipped 1.5% on BSE on recalling bottles of its generic version of cholesterol-lowering Lipitor drug in the US after identifying a dosage mix-up. State Bank of India climbed 2.6% on BSE on plans to sell a portion of its Non-Performing Assets (NPAs) to Asset reconstruction companies (ARCs) in the current quarter of Jan-Mar 2014. (Read More) Engineers India surged 3.5% on BSE on getting a contract from Nigerian company Dangote Group worth $139 million to provide project management consultancy (PMC) and engineering, procurement and construction management (EPCM) services for a refinery and polypropylene plant. (Read More) The market breadth on the BSE closed in positive. Advancing and declining stocks were 1519 and 1412 respectively, while 174 scrips remained unmoved. The S&P BSE Sensex ended at 21934.83, up 15.04 points or 0.07%. The 30 share index touched a high and a low of 22023.98 and 21805.22 respectively. 15 stocks advanced against 15 declining ones on the benchmark index. The CNX Nifty gained 10.60 points or 0.16% to settle at 6537.25. The index touched high and low of 6562.20 and 6487.35 respectively. 28 stocks advanced against 22 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved up to 6722.74 and gained 0.44% while S&P BSE Small-cap index jumped up by 0.77% to 6663.10. The broader S&P BSE 500 index increased to 8017.03 (up 0.28%) and CNX 500 index rose to 5046.45 (up 0.25%). The volatility as denoted by INDIA VIX gained 6.34% at 17.78 from its previous close of 16.72 on Friday.

Sectors in action On the BSE Sectorial front, Capital Goods (up 2.77%), Real Estate (up 2.47%) and Banks (up 1.91%) were the top gainers. Information Technology (down 2.42%), Healthcare (down 1.67%) and Metals (down 1.03%) were the top losers. The Angels and the Devils Maruti Suzuki India Ltd (up 3.74%), Mahindra and Mahindra Ltd (up 3.42%), Larsen And Toubro Ltd (up 3.33%), HDFC Bank (up 3.23%) and State Bank of India (up 2.58%) were the top gainers on the Sensex. Tata Consultancy Services Ltd (down 3.67%), Tata Motors Ltd (down 3.20%), Sun Pharmaceutical Industries Ltd (down 2.64%), GAIL (India) Ltd (down 2.31%) and Coal India Ltd (down 2.25%) were the top losers on the Sensex. Benchmark Drivers Tata Consultancy Services Ltd (-55.62 points), HDFC Bank (51.11 points), Infosys Ltd (-38.61 points), Larsen And Toubro Ltd (38.53 points) and Reliance Industries Ltd (34.63 points) were the major Sensex drivers today. On the other end Tata Consultancy Services Ltd (-14.63 points), HDFC Bank (12.78 points), Infosys Ltd (-9.72 points), Larsen And Toubro Ltd (9.25 points) and Reliance Industries Ltd (8.27 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6529 for next session. The next support is at 6496 and on upside it has a resistance at 6571 levels. CNX Nifty Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 11-Mar-2014 6421 6454 6496 6529 6571 6604 6645 - 10-Mar-2014 6323 6368 6448 6493 6572 6617 6696 6537.25 07-Mar-2014 6291 6316 6358 6382 6425 6449 6492 6526.65 S&P BSE Sensex has a pivot at 21921 with first level of support and resistance at 21819 and 22037 respectively. S&P BSE Sensex Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 11-Mar-2014 21600 21703 21819 21921 22037 22140 22256 - 10-Mar-2014 21231 21385 21653 21807 22074 22228 22495 21934.83 07-Mar-2014 21192 21261 21387 21456 21583 21652 21778 21919.79 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.

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