Bears dominate Dalal Street for third straight session

1. Bears dominate Dalal Street for third straight session
Market Snapshot | 08-10-2014 04:20 PM
Resuming the southward journey, Indian markets made a marginally down start and were seen hovering around
previous close. Markets made several attempts to trade in green terrain on the back of the positive growth forecasts
from international institutions but failed as feeble global cues weighed. Both barometer gauges settled marginally down
to end lower for third straight day.
The S&P BSE Sensex ended at 26246.79, down 25.18 points or 0.10%. The 30 share index touched a high and a
low of 26338.31 and 26150.09 respectively. 19 stocks advanced against 10 declining ones on the benchmark index.
The CNX Nifty lost 9.70 points or 0.12% to settle at 7842.70. The index touched high and low of 7869.90 and 7815.75
respectively. 31 stocks advanced against 19 declining ones on the index.
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1431 and 1630
respectively, while 139 scrips remained unmoved.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 9403.83 and lost 0.23% while S&P BSE Small-cap index jumped up by
0.06% to 10564.14.
The broader S&P BSE 500 index decreased to 10021.16 (down 0.12%) and CNX 500 index declined to 6316.65 (down
0.13%).
The volatility as denoted by INDIA VIX lost 2.42% at 14.11 from its previous close of 14.46 on Tuesday.
On global turf, US markets slipped after the International Monetary Fund cut the growth forecast for U.S. economy.
Asian and European markets too traded in red zone.
Back home, among macro-economic developments, following rating outlook upgrades by likes of S&P, the other
international institutions of repute are also coming up with encouraging remarks about Indian economy. ‘Modi Dividend’
was quoted in an International Monetary Fund (IMF) report on World Economic Outlook as an important factor in
elevating India’s growth forecast. The report stated that India has recovered from its relative slump and slated to grow
by 5.6% in FY 2014-15, citing better exports and investment prospects under the new Narendra Modi government.
Moreover, the World Bank in its twice-a-year South Asia Economic Focus report underscored that Indian economy that
accounts for 80% of South Asia's output is set to grow by 6.4% in 2015-16 as against 5.6% in 2014-15.
Sectors in action
On the BSE Sectorial front, Oil & Gas (up 1.69%), Capital Goods (up 1.61%) and Real Estate (up 1.57%) were the top
gainers.
Information Technology (down 3.44%) and Healthcare (down 3.27%) were the top losers.
On stock-specific front, leading Oil marketing companies (OMCs) spurted up to 7% on BSE after the Brent crude
price tanked to 27 month low levels in international markets.
Punj Lloyd rallied 5.17% on BSE as the company is planning to raise over Rs 1000 crore through sale of non-core
assets by October 2014.
Navratna Company, National Buildings Construction Corporation (NBCC) climbed 2.86% on BSE on being awarded a
Project Management Consultancy work worth Rs 337.97 crore from IIT Kanpur.
McNally Bharat Engineering Company spiked 1.84% on BSE on receiving order worth around Rs 305.13 crore of
Water System for a Thermal Power Project.
The Angels and the Devils
Tata Steel Ltd (up 3.52%), Larsen And Toubro Ltd (up 2.32%), Oil and Natural Gas Corporation Ltd (up 2.30%), NTPC
Ltd (up 2.24%) and Bharat Heavy Electricals Ltd (up 2.10%) were the top gainers on the Sensex.

2. Infosys Ltd (down 4.70%), Dr. Reddys Laboratories Ltd (down 4.37%), Sun Pharmaceutical Industries Ltd (down
4.31%), Wipro Ltd (down 4.03%) and Cipla Ltd (down 2.51%) were the top losers on the Sensex.
Benchmark Drivers
Infosys Ltd (-101.09 points), Tata Consultancy Services Ltd (-35.04 points), Sun Pharmaceutical Industries Ltd (-34.39
points), Larsen And Toubro Ltd (31.49 points) and ICICI Bank (25.99 points) were the major Sensex drivers today.
On the other end Infosys Ltd (-25.64 points), Sun Pharmaceutical Industries Ltd (-8.44 points), Tata Consultancy
Services Ltd (-8.21 points), Larsen And Toubro Ltd (7.86 points) and ICICI Bank (6.34 points) were the major Nifty
movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 7843 for next session. The next support is at 7816 and on upside it has a resistance at
7870 levels.
CCNNXX NNiiffttyy
EEffff.. DDaattee SS 33 SS 22 SS 11 PPIIVVOOTT RR 11 RR 22 RR 33 AAccttuuaall CClloossee
09-Oct-2014 7762 7789 7816 7843 7870 7897 7924 -
08-Oct-2014 7715 7779 7816 7879 7916 7980 8016 7842.70
07-Oct-2014 7888 7912 7929 7953 7970 7994 8011 7852.40
S&P BSE Sensex has a pivot at 26245 with first level of support and resistance at 26152 and 26340 respectively.
SS&&PP BBSSEE SSeennsseexx
EEffff.. DDaattee SS 33 SS 22 SS 11 PPIIVVOOTT RR 11 RR 22 RR 33 AAccttuuaall CClloossee
09-Oct-2014 25964 26057 26152 26245 26340 26433 26528 -
08-Oct-2014 25838 26044 26158 26364 26478 26684 26798 26246.79
07-Oct-2014 26381 26464 26516 26600 26652 26735 26787 26271.97
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