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Finalaya daily wrap_11oct2013

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Information about Finalaya daily wrap_11oct2013
Finance

Published on October 11, 2013

Author: finalaya

Source: slideshare.net

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Indian indices started over the moon buoyed on optimistic global cues and encouraging Q2 show by IT bellwether Infosys. Benchmarks soared nearly 1.25% backed by rally in heavy weights. Markets ended higher in positive terrain with Sensex scoring 255 points ahead of August IIP data release. Among BSE sectorials, IT index topped the charts, followed by bankex.
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Heavyweights pull markets higher; Infy beats Q2 forecasts Market Summary 11-Oct-2013 Indian indices started over the moon buoyed on optimistic global cues and encouraging Q2 show by IT bellwether Infosys. Benchmarks soared nearly 1.25% backed by rally in heavy weights. Markets ended higher in positive terrain with Sensex scoring 255 points ahead of August IIP data release. Among BSE sectorials, IT index topped the charts, followed by bankex. On global front, US indices climbed after House Republican leaders proposed a temporary extension of the nation’s debt ceiling. Asian and European also traded higher tracking positive cues from US markets. Back home, industry body FICCI had cut country’s economic FY14 growth forecast to 5% from its earlier forecast of 6% amid depreciation concerns in Rupee against foreign currencies and continuously rising inflation. (Read More) Indian IT giant, Infosys rallied 4.8% and hit fresh 52 week high at Rs 3360 on BSE as the company's Net sales had beaten the forecasts and Net profit registered a growth of 1.60% in Q2FY14 at Rs 2407 crore as compared to Rs 2369 crore in Q2FY13 on consolidated basis. However on standalone basis, the company reported 0.68% fall in Q2 Net at Rs 2326 crore as compared to Rs 2342 crore for the same quarter in the previous year. The company revised its FY14 revenue guidance to 9-10% from 6-10% in dollar terms. (Featured Result) IT index surged 3.12% on BSE after Infosys started the Q2 result season on a positive note. Tech stocks mounted from 1-5%. (What’s Hot) Tata Motors spurted 3.6% and hit all time high at Rs 389.5 on BSE after company’s subsidiary Jaguar Land Rover registered 17% jump in its global sales of September at 43181 units. Among total JLR sales, Jaguar sold 8462 units, up 35% while Land Rover sold 34,719 units, up 13%. (Read More) Coal India plunged 3.9% on BSE in otherwise positive market as Government of India will start roadshows for divestment of 5% stake in the company from October 21 and will end on October 31, 2013. The roadshows will be held in Boston, New York, Chicago, San Francisco and London. (Read More) Ranbaxy shined 1.55% on receiving an Establishment Inspection Report (EIR) from US Food and Drug Administration (US FDA) for its New-Jersey based Ohm Laboratories. (Read More) The market breadth on the BSE closed in positive. Advancing and declining stocks were 1374 and 1165 respectively, while 165 scrips remained unmoved. The S&P BSE Sensex ended at 20528.59, up 255.68 points or 1.26%. The 30 share index touched a high and a low of 20559.69 and 20368.06 respectively. 20 stocks advanced against 10 declining ones on the benchmark index. The CNX Nifty gained 75.25 points or 1.25% to settle at 6096.20. The index touched high and low of 6107.60 and 6046.40 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 5870.60 and gained 0.33% while S&P BSE Small-cap index jumped up by 0.47% to 5718.33. The broader S&P BSE 500 index increased to 7416.41 (up 0.88%) and CNX 500 index rose to 4651.80 (up 0.96%). The volatility as denoted by INDIA VIX lost 8.85% at 23.59 from its previous close of 25.88 on Thursday. Sectors in action On the BSE Sectorial front, Information Technology (up 3.12%), Banks (up 3.09%) and Capital Goods (up 2.77%) were the top gainers. Metals (down 1.49%), Power (down 1.10%) and Healthcare (down 1.09%) were the top losers. The Angels and the Devils ICICI Bank (up 5.01%), Infosys Ltd (up 4.79%), Larsen And Toubro Ltd (up 4.26%), Tata Motors Ltd (up 3.60%) and

ICICI Bank (up 5.01%), Infosys Ltd (up 4.79%), Larsen And Toubro Ltd (up 4.26%), Tata Motors Ltd (up 3.60%) and Maruti Suzuki India Ltd (up 3.01%) were the top gainers on the Sensex. Coal India Ltd (down 3.88%), Tata Power Company Ltd (down 2.56%), NTPC Ltd (down 2.47%), Hindalco Industries Ltd (down 2.39%) and Sun Pharmaceutical Industries Ltd (down 2.14%) were the top losers on the Sensex. Benchmark Drivers Infosys Ltd (86.98 points), ICICI Bank (65.25 points), HDFC Bank (37.33 points), Larsen And Toubro Ltd (35.67 points) and ITC Ltd (-32.58 points) were the major Sensex drivers today. On the other end Infosys Ltd (21.51 points), ICICI Bank (16.97 points), HDFC Bank (11.62 points), Larsen And Toubro Ltd (9.31 points) and ITC Ltd (-8.21 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6083 for next session. The next support is at 6059 and on upside it has a resistance at 6120 levels. CNX Nifty Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 14-Oct-2013 5998 6022 6059 6083 6120 6145 6182 - 11-Oct-2013 5935 5957 5989 6012 6043 6066 6097 6096.20 10-Oct-2013 5779 5828 5918 5967 6056 6105 6195 6020.95 S&P BSE Sensex has a pivot at 20485 with first level of support and resistance at 20411 and 20603 respectively. S&P BSE Sensex Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 14-Oct-2013 20220 20294 20411 20485 20603 20677 20794 - 11-Oct-2013 19977 20056 20165 20244 20352 20432 20540 20528.59 10-Oct-2013 19507 19667 19958 20118 20409 20569 20860 20272.91 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.

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