Finalaya daily wrap_04mar2014

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Information about Finalaya daily wrap_04mar2014
Finance

Published on March 4, 2014

Author: finalaya

Source: slideshare.net

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After a day’s pause, Indian indices resumed the bullish streak despite mixed global cues. Fading Ukraine worries and buying in frontline blue chip stocks persuaded Indian benchmarks to stretch the upmove with Nifty hitting 6300 milestone first time after January 23, 2014. Both barometer gauges rallied 1.25% at close with Sensex soaring 263 points. On BSE sectorial front, Metal index spiked 3% followed by Bankex.

Sensex shoots 263 points on fading Ukraine worries Market Snapshot | 04-03-2014 04:22 PM After a day’s pause, Indian indices resumed the bullish streak despite mixed global cues. Fading Ukraine worries and buying in frontline blue chip stocks persuaded Indian benchmarks to stretch the upmove with Nifty hitting 6300 milestone first time after January 23, 2014. Both barometer gauges rallied 1.25% at close with Sensex soaring 263 points. On BSE sectorial front, Metal index spiked 3% followed by Bankex. Among global peers, US markets traded in negative terrain as investors remained worried about severing ties between Russia and Ukraine. Ukraine fears faded after President Vladimir Putin has ordered troops to return to base that led Asian and European indices to recuperate from early losses. Back home, on currency front, Rupee recovered from losses against Dollar tailing gains in local equities. In futures trades, INR hit an intra-day high of 62.09/USD and an intra-day low of 62.48/USD. In spot trades, INR hit an intra-day high of 61.82/USD and an intra-day low of 62.15/USD. As per RBI reference rate, INR stood at 61.90/USD. (Read More) On macro-economic front, Union Commerce and Industry Minister Anand Sharma said, “cabinet note on allowing foreign direct investment (FDI) in the railway and construction sectors has been approved.” Further, the minister underscored that the processes to cabinet note stand have been completed and the proposal would take final shape soon. (Read More) On stock-specific front, Dhanlaxmi Bank zoomed 14.6% on BSE after the board approved the allotment of equity shares on a preferential basis at a price of Rs 39 per share which is 31% higher than closing price of previous session. IVRCL ltd shot 7.7% on BSE on bagging multiple orders worth Rs 2632.85 crore under its Irrigation Division and Water Division. (Read More) Hindustan Construction Company (HCC) surged 5% on BSE after the company’s joint venture GVPR Engineers won contract worth Rs 903.83 crore from Karnataka Neeravari Nigam. (Read More) Ramco Systems jumped 5% to hit 52 week high at Rs 220.25 on BSE on entering into a strategic partnership with Malaysia Airline, for a suite of critical enterprise-wide engineering solutions including aircraft maintenance, operational, human resources and financial functions. (Read More) Bharat Heavy Electricals Ltd (BHEL) jumped 2.6% on BSE after insurance major, Life Insurance Corporation of India (LIC) acquired 4.66% stake or 114.1 million shares in the company from Government at Rs 165.55 each in a block deal aggregating Rs 1889 crore. (Read More) The market breadth on the BSE closed in positive. Advancing and declining stocks were 1687 and 1135 respectively, while 149 scrips remained unmoved. The S&P BSE Sensex ended at 21209.73, up 263.08 points or 1.26%. The 30 share index touched a high and a low of 21224.64 and 20940.39 respectively. 28 stocks advanced against 2 declining ones on the benchmark index. The CNX Nifty gained 76.50 points or 1.23% to settle at 6297.95. The index touched high and low of 6302.15 and 6215.70 respectively. 46 stocks advanced against 4 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved up to 6565.59 and gained 1.31% while S&P BSE Small-cap index jumped up by 1.03% to 6515.79. The broader S&P BSE 500 index increased to 7751.30 (up 1.22%) and CNX 500 index rose to 4873.20 (up 1.18%). The volatility as denoted by INDIA VIX lost 5.82% at 14.39 from its previous close of 15.28 on Monday. Sectors in action On the BSE Sectorial front, Metals (up 3.31%), Banks (up 2.47%) and Capital Goods (up 2.00%) were the top gainers. Healthcare (down 0.40%) and Information Technology (down 0.01%) were the top losers.

The Angels and the Devils Hindalco Industries Ltd (up 8.25%), Sesa Sterlite Ltd (up 4.96%), ICICI Bank (up 3.75%), Axis Bank (up 3.61%) and GAIL (India) Ltd (up 3.49%) were the top gainers on the Sensex. Sun Pharmaceutical Industries Ltd (down 0.49%) and Dr. Reddys Laboratories Ltd (down 0.40%) were the top losers on the Sensex. Benchmark Drivers ICICI Bank (51.76 points), Reliance Industries Ltd (22.88 points), Housing Development Finance Corporation Ltd (22.34 points), Larsen And Toubro Ltd (19.43 points) and ITC Ltd (18.69 points) were the major Sensex drivers today. On the other end ICICI Bank (13.16 points), Reliance Industries Ltd (4.92 points), Larsen And Toubro Ltd (4.63 points), Housing Development Finance Corporation Ltd (4.00 points) and ITC Ltd (3.95 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6272 for next session. The next support is at 6242 and on upside it has a resistance at 6328 levels. CNX Nifty Eff. Date 05-Mar-2014 04-Mar-2014 03-Mar-2014 S3 6155 6131 6188 S2 6185 6172 6208 S1 6242 6197 6242 PIVOT 6272 6237 6263 R1 6328 6262 6297 R2 6358 6303 6317 R3 6415 6328 6352 Actual Close 6297.95 6221.45 S&P BSE Sensex has a pivot at 21125 with first level of support and resistance at 21025 and 21309 respectively. S&P BSE Sensex Eff. Date 05-Mar-2014 04-Mar-2014 03-Mar-2014 S3 20741 20646 20876 Follow us on S2 20841 20784 20933 S1 21025 20865 21026 PIVOT 21125 21003 21083 R1 21309 21084 21177 R2 21409 21222 21234 R3 21594 21303 21328 Actual Close 21209.73 20946.65 This content is generated at www.finalaya.com and is governed by the Terms of Use.

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