Finalaya daily wrap_06mar2014

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Information about Finalaya daily wrap_06mar2014

Published on March 6, 2014

Author: finalaya

Source: slideshare.net

Q3 CAD powers Sensex beyond 21500; Nifty reclaims 6400 Market Snapshot | 06-03-2014 04:22 PM Following a marginally higher start, Indian indices continued the positive trades for third straight day amidst optimistic global cues. Markets remained in bull grip throughout the day as investors cheered India’s current account deficit (CAD) data for December quarter. Exuberant Sensex hit a life time high of 21525.14 before closing above 21500. Nifty too shot up 1.15% to close above 6400. On BSE sectorial front, Realty continued to rock the show by soaring over 4%. Among global peers, US markets traded on a mixed note amidst disappointing economic reports. However, Asian and European markets traded jubilantly with Nikkei climbing 1.5% on a Pension Fund report. Back home, on currency front, Rupee rose to near three months high against Dollar on narrowed CAD in December quarter. In futures trades, INR hit an intra-day high of 61.35/USD and an intra-day low of 61.75/USD. In spot trades, INR hit an intra-day high of 61.17/USD and an intra-day low of 61.43/USD. As per RBI reference rate, INR stood at 61.32/USD. (Read More) On macro-economic front, in a big surprise for policy makers amidst election season, Indian current account deficit for December quarter dropped to 4 years low level. CAD narrowed to $4.2 billion (0.9% of GDP) in Q3FY14 as compared to $5.2 billion (1.2% of GDP) in Q2 FY14. The sharp fall was mainly driven by decline in imports (mainly gold) and spike in merchandise exports. Exports grew by 7.5% to $79.8 billion in the quarter on y-o-y basis whereas merchandise imports contracted by 14.8% to $112.9 billion year on year. (Read More) On stock-specific front, Financial Technologies jumped 5% on BSE after global financial services firm, Merill Lynch bought 2.35 lakh shares of the company through an open market transaction. (Read More) Cera Sanitaryware surged 6% and touched fresh 52 week high at Rs 855 on BSE after its shareholders hiked their stake in the company via creeping acquisition route. IL&FS Transportation Network Ltd shined 6.3% on BSE after its board nodded to issue debentures worth of Rs 100 crore via private placements. (Read More) The market breadth on the BSE closed in positive. Advancing and declining stocks were 1775 and 1066 respectively, while 164 scrips remained unmoved. The S&P BSE Sensex ended at 21513.87, up 237.01 points or 1.11%. The 30 share index touched a high and a low of 21525.14 and 21329.88 respectively. 24 stocks advanced against 6 declining ones on the benchmark index. The CNX Nifty gained 72.50 points or 1.15% to settle at 6401.15. The index touched high and low of 6406.60 and 6339.70 respectively. 42 stocks advanced against 8 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved up to 6708.00 and gained 1.21% while S&P BSE Small-cap index jumped up by 1.22% to 6626.46. The broader S&P BSE 500 index increased to 7886.02 (up 1.24%) and CNX 500 index rose to 4959.10 (up 1.19%). The volatility as denoted by INDIA VIX gained 4.62% at 14.48 from its previous close of 13.84 on Wednesday. Sectors in action On the BSE Sectorial front, Real Estate (up 4.09%), Power (up 2.45%) and Metals (up 2.23%) were the top gainers. Healthcare (down 0.27%) was the top loser. The Angels and the Devils Hindalco Industries Ltd (up 4.33%), Bharat Heavy Electricals Ltd (up 3.78%), ICICI Bank (up 3.33%), Oil and Natural Gas Corporation Ltd (up 2.91%) and Tata Steel Ltd (up 2.38%) were the top gainers on the Sensex. Cipla Ltd (down 1.38%), Wipro Ltd (down 0.86%), Tata Motors Ltd (down 0.45%), Tata Consultancy Services Ltd (down 0.40%) and Hindustan Unilever Ltd (down 0.29%) were the top losers on the Sensex.

Benchmark Drivers ICICI Bank (48.88 points), Reliance Industries Ltd (31.13 points), Larsen And Toubro Ltd (18.08 points), Housing Development Finance Corporation Ltd (17.78 points) and Oil and Natural Gas Corporation Ltd (17.37 points) were the major Sensex drivers today. On the other end ICICI Bank (11.57 points), Reliance Industries Ltd (7.96 points), Larsen And Toubro Ltd (4.63 points), Housing Development Finance Corporation Ltd (4.60 points) and Oil and Natural Gas Corporation Ltd (4.14 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6382 for next session. The next support is at 6358 and on upside it has a resistance at 6425 levels. CNX Nifty Eff. Date 07-Mar-2014 06-Mar-2014 05-Mar-2014 S3 6291 6250 6155 S2 6316 6269 6185 S1 6358 6299 6242 PIVOT 6382 6318 6272 R1 6425 6347 6328 R2 6449 6366 6358 R3 6492 6396 6415 Actual Close 6401.15 6328.65 S&P BSE Sensex has a pivot at 21456 with first level of support and resistance at 21387 and 21583 respectively. S&P BSE Sensex Eff. Date 07-Mar-2014 06-Mar-2014 05-Mar-2014 S3 21192 21034 20741 Follow us on S2 21261 21105 20841 S1 21387 21191 21025 PIVOT 21456 21262 21125 R1 21583 21348 21309 R2 21652 21419 21409 R3 21778 21505 21594 Actual Close 21513.87 21276.86 This content is generated at www.finalaya.com and is governed by the Terms of Use.

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