Finalaya daily wrap_14mar2014

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Information about Finalaya daily wrap_14mar2014
Finance

Published on March 14, 2014

Author: finalaya

Source: slideshare.net

Markets negotiate positive close by recovering in dying hours Market Snapshot | 14-03-2014 04:39 PM Indian benchmarks opened lower amid sluggish global cues originating from the Ukraine crisis and even a nine month low WPI failed to boost the Indices. However, in late hours, markets drew some respite and recovered some of its lost ground to manage a green close. Among BSE sectorials, Capital Goods was the top gainer. Among global peers. US indices traded in deep red with both barometer gauges tanking around 1.5% on renewed tensions of Ukraine crisis after Russia launched new military exercises near its border with Ukraine on Thursday. Tracking the weak lead from Wall-Street and China growth concerns led the Asian and European indices to tumble in red zone. Back home, on currency front, Rupee recovered some early losses on eased WPI for February. In futures trades, INR hit an intra-day high of 61.26/USD and an intra-day low of 61.72/USD. In spot trades, INR hit an intra-day high of 61.07/USD and an intra-day low of 61.55/USD. As per RBI reference rate, INR stood at 61.51/USD. On macro-economic front, adding further solace for policy makers ahead of monetary policy on April 1, after CPI and IIP digits, Wholesale Price Index (WPI) too rocked the D-Street by easing to 9 months low levels. India’s main inflation gauge, WPI decelerated to 4.68% in February 2014 as compared to 5.05% in January 2014 and 7.28% in February 2013. The numbers were far below the street expectations of 4.9%. (Read More) On stock-specific front, Multi Commodity Exchange and Financial Technologies slumped over 4% after CPI registered for enquiry against both the companies on NSEL case. MCX board announced the appointment of new Chairman Thomas Mathew after GK Pillai stepped down from the post. State owned, Oil and Natural Gas Ltd (down 0.54%) and Oil India (up 0.23%) bought 10% stake or 24.27 crore shares in another PSU major Indian Oil Corporation (down 1.9%). The transaction took place in off market transaction at Rs 220 per share aggregating Rs 5340 crore. L&T Finance Holdings tanked over 6% at Rs 6.2% on BSE as the Offer for Sale started today through which the company is expecting to sell 5.5 million shares at a discounted price of 70/share. AstraZeneca Pharmaceutical soared 8.8% on BSE ahead of company’s Board meeting later this week to consider delisting the company from various bourses including the BSE and the National Stock Exchange. (Read More) T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1270 and 1595 respectively, while 157 scrips remained unmoved. The S&P BSE Sensex ended at 21809.80, up 35.19 points or 0.16%. The 30 share index touched a high and a low of 21853.32 and 21573.48 respectively. 15 stocks advanced against 14 declining ones on the benchmark index. The CNX Nifty gained 11.10 points or 0.17% to settle at 6504.20. The index touched high and low of 6518.45 and 6432.70 respectively. 29 stocks advanced against 21 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved down to 6656.18 and lost 0.23% while S&P BSE Small-cap index hammered down by 0.34% to 6627.68. The broader S&P BSE 500 index increased to 7960.57 (up 0.05%) and CNX 500 index rose to 5011.55 (up 0.09%). The volatility as denoted by INDIA VIX lost 2.20% at 16.45 from its previous close of 16.82 on Thursday. Sectors in action On the BSE Sectorial front, Capital Goods (up 1.85%), Real Estate (up 1.00%) and Automobile (up 0.94%) were the top gainers. Banks (down 0.68%), Information Technology (down 0.40%) and Consumer Durables (down 0.25%) were the top losers.

The Angels and the Devils Bharat Heavy Electricals Ltd (up 2.54%), Larsen And Toubro Ltd (up 2.46%), Dr. Reddys Laboratories Ltd (up 1.53%), Cipla Ltd (up 1.47%) and Tata Steel Ltd (up 1.47%) were the top gainers on the Sensex. Wipro Ltd (down 2.90%), Bharti Airtel Ltd (down 1.93%), Axis Bank (down 1.80%), HDFC Bank (down 1.42%) and Housing Development Finance Corporation Ltd (down 1.41%) were the top losers on the Sensex. Benchmark Drivers Larsen And Toubro Ltd (29.10 points), ITC Ltd (23.52 points), HDFC Bank (-23.44 points), Housing Development Finance Corporation Ltd (-21.05 points) and Infosys Ltd (18.09 points) were the major Sensex drivers today. On the other end Larsen And Toubro Ltd (7.19 points), ITC Ltd (6.12 points), HDFC Bank (-5.67 points), Infosys Ltd (5.17 points) and Housing Development Finance Corporation Ltd (-3.76 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6485 for next session. The next support is at 6452 and on upside it has a resistance at 6538 levels. CNX Nifty Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 18-Mar-2014 6366 6399 6452 6485 6538 6571 6623 - 14-Mar-2014 6375 6426 6459 6510 6544 6595 6629 6504.20 13-Mar-2014 6429 6458 6487 6517 6546 6576 6605 6493.10 S&P BSE Sensex has a pivot at 21746 with first level of support and resistance at 21638 and 21918 respectively. S&P BSE Sensex Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 18-Mar-2014 21358 21466 21638 21746 21918 22025 22197 - 14-Mar-2014 21395 21557 21666 21829 21937 22100 22208 21809.80 13-Mar-2014 21563 21666 21761 21863 21959 22061 22157 21774.61 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.

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