Finalaya daily wrap_18mar2014

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Information about Finalaya daily wrap_18mar2014

Published on March 18, 2014

Author: finalaya

Source: slideshare.net

Sensex ends flat after hitting new life-time high; Maruti zooms 7.6% Market Snapshot | 18-03-2014 04:21 PM After the “Holi” day, Indian indices made a gap up start with Sensex hitting another life-time high at 22040.72 in early trades. Markets continued to trade in green zone as firm global cues and positive Goldman Sachs outlook on Indian equities served as buying catalyst. The global consulting giant has upgraded Indian equities to “over-weight” from “market-weight” and raised its Nifty target to 7600. However, weak trades in European markets led Indian benchmarks to pare their early gains and end flat. Sensex settled below 21900 whereas Nifty managed to hold crucial level of 6500 at the close. Among BSE sectorials, FMCG index was the top gainer while IT index was the top loser. On global front, US markets made a smart bounce back straddling a good data for industrial production in the month of February and easing tension in Ukraine over the situation in Crimea. Additionally, Asian markets too edged higher tailing the gains in US markets. On the contrary, European indices witnessed some weakness on strong Yen. Back home, on currency front, Rupee witnessed mixed trades against Dollars. In futures trades, INR hit an intra-day high of 61.02/USD and an intra-day low of 61.36/USD. In spot trades, INR hit an intra-day high of 60.87/USD and an intra-day low of 61.18/USD. As per RBI reference rate, INR stood at 60.94/USD. Smart Movers Automobile bellwether, Maruti Suzuki India Ltd (MSIL) zoomed 7.6% and touched fresh life time high at Rs 1899.9 on BSE after the company decided to seek minority shareholders’ nod for the Gujarat project even though not required by law. The company announced capital expenditure for FY15 at Rs 4000 crore. Country’s biggest public sector bank, State Bank of India climbed 2.7% on BSE on the plans to sell the Non- Performing Assets (NPAs) of Rs 5000 crore to asset reconstruction companies (ARCs) before the end of March 2014. (Read More) Financial Technologies India Ltd (FTIL) rallied 5% on BSE as the company entered into Share Purchase Agreement (SPA) for sale of 100% equity ownership in NBHC. However, the transaction is subject to certain customary closing conditions including the approval of shareholders of FTIL. (Read More) Orchid Chemicals spiked 10% on BSE after receiving Corporate Debt Restructuring’s (CDR) nod for the sale of a portion of its businesses to Hospira Healthcare India and reduce debt. (Read More) SREI Infrastructure rallied 7% on BSE as Reliance Jio entered into infrastructure sharing agreement with Viom Network. SREI Infrastructure and other PE investors hold nearly 45% stake in Viom. Amtek India rallied 20% on BSE on successfully acquiring the Kuepper Group that has 5 manufacturing facilities across Germany and Hungary. (Read More) The market breadth on the BSE closed in positive. Advancing and declining stocks were 1609 and 1288 respectively, while 193 scrips remained unmoved. The S&P BSE Sensex ended at 21832.61, up 22.81 points or 0.10%. The 30 share index touched a high and a low of 22040.72 and 21785.38 respectively. 17 stocks advanced against 13 declining ones on the benchmark index. The CNX Nifty gained 12.45 points or 0.19% to settle at 6516.65. The index touched high and low of 6574.95 and 6497.65 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 up to 6719.37 and gained 0.95% while S&P BSE Small-cap index jumped up by 0.97% to 6691.68. The broader S&P BSE 500 index increased to 7997.57 (up 0.46%) and CNX 500 index rose to 5035.40 (up 0.48%). The volatility as denoted by INDIA VIX gained 4.13% at 17.13 from its previous close of 16.45 on Friday. Sectors in action On the BSE Sectorial front, FMCG (up 1.84%), Power (up 1.27%) and Consumer Durables (up 0.89%) were the top gainers.

Information Technology (down 0.82%), Real Estate (down 0.52%) and Capital Goods (down 0.35%) were the top losers. The Angels and the Devils Maruti Suzuki India Ltd (up 7.58%), State Bank of India (up 2.72%), ITC Ltd (up 2.56%), Coal India Ltd (up 2.48%) and Reliance Industries Ltd (up 1.04%) were the top gainers on the Sensex. Tata Motors Ltd (down 3.03%), Mahindra and Mahindra Ltd (down 1.51%), Wipro Ltd (down 1.23%), Infosys Ltd (down 1.19%) and Larsen And Toubro Ltd (down 1.17%) were the top losers on the Sensex. Benchmark Drivers ITC Ltd (57.35 points), Tata Motors Ltd (-24.56 points), Maruti Suzuki India Ltd (23.08 points), Infosys Ltd (-22.76 points) and Reliance Industries Ltd (19.07 points) were the major Sensex drivers today. On the other end ITC Ltd (14.01 points), Tata Motors Ltd (-6.19 points), Infosys Ltd (-6.17 points), Maruti Suzuki India Ltd (5.68 points) and Reliance Industries Ltd (5.31 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6530 for next session. The next support is at 6485 and on upside it has a resistance at 6562 levels. CNX Nifty Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 19-Mar-2014 6407 6452 6485 6530 6562 6607 6639 - 18-Mar-2014 6366 6399 6452 6485 6538 6571 6623 6516.65 14-Mar-2014 6375 6426 6459 6510 6544 6595 6629 6504.20 S&P BSE Sensex has a pivot at 21886 with first level of support and resistance at 21732 and 21987 respectively. S&P BSE Sensex Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 19-Mar-2014 21476 21631 21732 21886 21987 22142 22242 - 18-Mar-2014 21358 21466 21638 21746 21918 22025 22197 21832.61 14-Mar-2014 21395 21557 21666 21829 21937 22100 22208 21809.80 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.

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