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Finalaya daily wrap_13mar2014

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Information about Finalaya daily wrap_13mar2014
Finance

Published on March 13, 2014

Author: finalaya

Source: slideshare.net

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Nifty slips below 6500 as Infy plays Spoilsport Market Snapshot | 13-03-2014 04:21 PM Indian Indices recuperated the losses made in early minutes of trade and continued the moves in upward direction. Bull retained their hold on D-Street as euphoric digits of IIP and CPI weighed. However, benchmarks trickled down in late hours on account of selling pressure in IT index. Both barometer gauges slipped 0.37% to end near day’s low with Nifty below 6500 mark. On sectorial front, IT index crashed 4% on BSE with Infosys (down 8.54%) taking the lead after the company's executive chairman Narayana Murthy said he is not at all happy at the way Infosys has performed and also raised concerns about its Q4 FY13-14 growth guidance. (What’s Hot) On global front, US indices recuperated from early losses and traded mostly in green. Additionally, European indices too traded in positive terrain whereas Asian indices exhibited mixed trades. Back home, on currency front, Rupee snapped 2-day losing streak and strengthened against Dollar buoyed by joyous macro-economic data. In futures trades, INR hit an intra-day high of 61.02/USD and an intra-day low of 61.27/USD. In spot trades, INR hit an intra-day high of 60.91/USD and an intra-day low of 61.11/USD. As per RBI reference rate, INR stood at 61.01/USD. (Read More) On commodity front, Gold continued the upward journey amidst weakness in global equity markets. In futures trade, Gold hit an intra-day high of Rs 30544 per 10 gms and an intra-day low of Rs 30390 per 10 gms. (Read More) On macro-economic front, retail inflation has amazed the D-Street by easing to astonishing level of 25 months low. Annual rate of inflation gauged by Consumer Prices Index (CPI) plunged to 8.10% in February 2014 as against 8.79% in January 2014 on the back of moderation in food prices. This was the third consecutive monthly fall in retail inflation digits. Adding to the cherry on the cake, Core CPI inflation slipped below the 8% mark for the first time in 7 months. Core CPI inflation stood at 7.9% in February 2014 as against 8.1% in January 2014. (Read More) Another important macro-economic number of Index of Industrial production (IIP) has beat all the expectations in the month of January by posting a growth for the first time in four months. IIP for the first month of CY2014 stood positive 0.1% as against -0.2% (revised) in December 2013. On stock specific front, pharmaceutical bellwether, Sun Pharmaceuticals tanked 5% on BSE as the United States Food and Drug Administration (USFDA) imposed an import alert on the company’s plant in Gujarat. (Read More) MMTC rallied 9.84% on BSE after the company emerged as the sole bidder for supply of imported fuel to Coal India (up 2%). (Read More) T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1340 and 1552 respectively, while 158 scrips remained unmoved. The S&P BSE Sensex ended at 21774.61, down 81.61 points or 0.37%. The 30 share index touched a high and a low of 21991.36 and 21720.13 respectively. 17 stocks advanced against 13 declining ones on the benchmark index. The CNX Nifty lost 23.80 points or 0.37% to settle at 6493.10. The index touched high and low of 6561.45 and 6476.65 respectively. 24 stocks advanced against 26 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved down to 6671.54 and lost 0.55% while S&P BSE Small-cap index hammered down by 0.22% to 6650.19. The broader S&P BSE 500 index decreased to 7956.96 (down 0.39%) and CNX 500 index declined to 5007.20 (down 0.43%). The volatility as denoted by INDIA VIX lost 1.29% at 16.82 from its previous close of 17.04 on Wednesday. Sectors in action On the BSE Sectorial front, Oil & Gas (up 1.45%), Banks (up 0.92%) and Automobile (up 0.54%) were the top gainers.

Information Technology (down 4.06%), Real Estate (down 3.47%) and Healthcare (down 1.03%) were the top losers. The Angels and the Devils Mahindra and Mahindra Ltd (up 2.40%), Oil and Natural Gas Corporation Ltd (up 2.37%), HDFC Bank (up 2.30%), Coal India Ltd (up 2.02%) and Hero MotoCorp Ltd (up 1.82%) were the top gainers on the Sensex. Infosys Ltd (down 8.54%), Sun Pharmaceutical Industries Ltd (down 5.03%), Sesa Sterlite Ltd (down 1.54%), Axis Bank (down 1.23%) and Tata Consultancy Services Ltd (down 1.16%) were the top losers on the Sensex. Benchmark Drivers Infosys Ltd (-177.45 points), HDFC Bank (37.11 points), Sun Pharmaceutical Industries Ltd (-29.22 points), Housing Development Finance Corporation Ltd (20.45 points) and Tata Consultancy Services Ltd (-17.25 points) were the major Sensex drivers today. On the other end Infosys Ltd (-44.40 points), HDFC Bank (9.33 points), Sun Pharmaceutical Industries Ltd (-7.53 points), Tata Consultancy Services Ltd (-5.10 points) and Housing Development Finance Corporation Ltd (4.62 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6510 for next session. The next support is at 6459 and on upside it has a resistance at 6544 levels. CNX Nifty Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 14-Mar-2014 6375 6426 6459 6510 6544 6595 6629 - 13-Mar-2014 6429 6458 6487 6517 6546 6576 6605 6493.10 12-Mar-2014 6415 6454 6483 6523 6552 6592 6620 6516.90 S&P BSE Sensex has a pivot at 21829 with first level of support and resistance at 21666 and 21937 respectively. S&P BSE Sensex Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 14-Mar-2014 21395 21557 21666 21829 21937 22100 22208 - 13-Mar-2014 21563 21666 21761 21863 21959 22061 22157 21774.61 12-Mar-2014 21480 21626 21726 21872 21973 22119 22219 21856.22 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.

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