Finalaya daily wrap_28feb2014

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Information about Finalaya daily wrap_28feb2014

Published on February 28, 2014

Author: finalaya

Source: slideshare.net

Sensex jumps 133 points ahead of GDP data announcement Market Snapshot | 28-02-2014 04:21 PM After a day’s break, Indian indices resumed their up move with Sensex spiking above 21100 in the early trades. Bulls retained their hold on D-Street on reports that FIIs bought shares worth net Rs 511.15 crore on February 26, 2014. In late noon session, benchmarks exhibited strong performance despite negative cues from European markets and ended near day’s high levels. Sensex climbed 133 points and Nifty ended at 6276 ahead of the announcement of GDP data for December quarter. On global front, US indices shined with S&P 500 touching record close after Fed Chief Yellen pointed bad weather to be responsible for slow US economy. Moreover, Asian indices also traded in green zone but European indices witnessed pessimistic trades amidst Ukraine worries. Back home, on currency front, domestic currency weakened against Dollar past 62 mark. In futures trades, INR hit an intra-day high of 62.29/USD and an intra-day low of 62.48/USD. In spot trades, INR hit an intra-day high of 62.1/USD and an intra-day low of 62.14/USD. As per RBI reference rate, INR stood at 62.07/USD. On stock specific front, Jubilant Life Sciences soared 6.9% on BSE after the US Food and Drug Administration (USFDA) classified company’s pharmaceutical manufacturing facility at Montreal, Canada as ‘Acceptable’. (Read More) Automobile bellwether, Tata Motors spiked 4.15% to hit a new all-time high at Rs 418 on BSE on reports that the company is looking to set up a manufacturing plant for Jaguar and Land Rover (JLR) in Saudi Arabia. Shree Renuka Sugars ended 1% up on BSE after the board of the company nodded for rights issue to existing shareholders for raising Rs 725.4 crore. (Read More) T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1377 and 1378 respectively, while 181 scrips remained unmoved. The S&P BSE Sensex ended at 21120.12, up 133.13 points or 0.63%. The 30 share index touched a high and a low of 21140.51 and 20989.66 respectively. 18 stocks advanced against 12 declining ones on the benchmark index. The CNX Nifty gained 38.15 points or 0.61% to settle at 6276.95. The index touched high and low of 6282.70 and 6228.10 respectively. 31 stocks advanced against 18 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved up to 6500.42 and gained 0.49% while S&P BSE Small-cap index jumped up by 0.14% to 6445.04. The broader S&P BSE 500 index increased to 7709.75 (up 0.63%) and CNX 500 index rose to 4849.50 (up 0.69%). The volatility as denoted by INDIA VIX gained 1.58% at 14.18 from its previous close of 13.96 on Wednesday. Sectors in action On the BSE Sectorial front, Healthcare (up 2.27%), Information Technology (up 1.44%) and Automobile (up 1.37%) were the top gainers. Consumer Durables (down 0.67%), FMCG (down 0.33%) and Oil & Gas (down 0.02%) were the top losers. The Angels and the Devils Hindalco Industries Ltd (up 6.86%), Tata Motors Ltd (up 4.15%), Tata Consultancy Services Ltd (up 4.14%), Bharat Heavy Electricals Ltd (up 3.18%) and Oil and Natural Gas Corporation Ltd (up 2.68%) were the top gainers on the Sensex. Maruti Suzuki India Ltd (down 4.54%), NTPC Ltd (down 2.51%), Tata Steel Ltd (down 1.49%), Reliance Industries Ltd (down 1.39%) and HDFC Bank (down 1.32%) were the top losers on the Sensex.

Benchmark Drivers Tata Consultancy Services Ltd (61.62 points), Tata Motors Ltd (34.25 points), Reliance Industries Ltd (-23.30 points), HDFC Bank (-19.78 points) and Sun Pharmaceutical Industries Ltd (15.28 points) were the major Sensex drivers today. On the other end Tata Consultancy Services Ltd (15.95 points), Tata Motors Ltd (8.12 points), Reliance Industries Ltd (-5.54 points), HDFC Bank (-4.33 points) and Sun Pharmaceutical Industries Ltd (3.99 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6263 for next session. The next support is at 6242 and on upside it has a resistance at 6297 levels. CNX Nifty Eff. Date 03-Mar-2014 28-Feb-2014 26-Feb-2014 S3 6188 6168 6139 S2 6208 6185 6158 S1 6242 6212 6179 PIVOT 6263 6229 6198 R1 6297 6256 6219 R2 6317 6273 6238 R3 6352 6300 6259 Actual Close 6276.95 6238.80 S&P BSE Sensex has a pivot at 21083 with first level of support and resistance at 21026 and 21177 respectively. S&P BSE Sensex Eff. Date 03-Mar-2014 28-Feb-2014 26-Feb-2014 S3 20876 20751 20648 Follow us on S2 20933 20806 20713 S1 21026 20896 20783 PIVOT 21083 20951 20848 R1 21177 21041 20917 R2 21234 21096 20982 R3 21328 21186 21052 Actual Close 21120.12 20986.99 This content is generated at www.finalaya.com and is governed by the Terms of Use.

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