Finalaya daily wrap_26aug2013

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Extending their previous session’s jubilation, Indian indices started gap up on positive global cues. Sentiments got boosted by Montek Singh Ahluwalia’s statement that domestic currency is over depreciated and government should use the foreign exchange reserves to deal with the crisis. Benchmarks were seen trading choppy throughout the day before ending marginally in green. Among BSE sectorials, banking index was the top laggard whereas power sector topped the charts.

Sensex ends 0.21% higher; IDFC tanks 8%
Market Summary
26-Aug-2013
Extending their previous session’s jubilation, Indian indices started gap up on positive global cues. Sentiments got
boosted by Montek Singh Ahluwalia’s statement that domestic currency is over depreciated and government should
use the foreign exchange reserves to deal with the crisis. Benchmarks were seen trading choppy throughout the day
before ending marginally in green. Among BSE sectorials, banking index was the top laggard whereas power sector
topped the charts.
On global front, US and European markets traded on a mixed note whereas Asian indices were mostly in green zone.
Back home, global rating agency, HSBC has downgraded Indian equities from 'overweight' to 'neutral' citing massive
challenge of balancing trade-offs between defending a currency and supporting growth. The report stated that
economic growth is slowing amidst rising inflation and widening current account deficit. (Read More)
Technology major, Hexaware Technologies soared 6.13% on BSE as Baring Asia inked definitive agreements to
acquire 41.8% stake in the company. (Read More)
IDFC Ltd tanked 8.26% and hit fresh 52 week low at Rs 94.05 on BSE on decreasing upper limit for FIIs, FDI, NRIs,
OCBs and Foreign Nationals from 74% to 54%. (Read More)
Reliance Power gained 1.38% on BSE after Board nodded for Scheme of Arrangement with Reliance Clean Power, its
step down subsidiary. (Read More)
VIP Industries surged 8.76% on BSE after Rakesh Jhunjhunwala bought nearly 10 lac shares (7% stake) in the
company.
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1339 and 1026 respectively,
while 154 scrips remained unmoved.
The S&P BSE Sensex ended at 18558.13, up 38.69 points or 0.21%. The 30 share index touched a high and a low of
18728.19 and 18488.93 respectively. 19 stocks advanced against 11 declining ones on the benchmark index.
The CNX Nifty gained 4.75 points or 0.09% to settle at 5476.50. The index touched high and low of 5528.70 and
5454.45 respectively. 33 stocks advanced against 17 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 5390.78 and gained 0.60% while S&P BSE Small-cap index jumped up by
0.80% to 5289.45.
The broader S&P BSE 500 index increased to 6704.61 (up 0.29%) and CNX 500 index rose to 4194.50 (up 0.26%).
The volatility as denoted by INDIA VIX gained 2.45% at 26.38 from its previous close of 25.75 on Friday.
Sectors in action
On the BSE Sectorial front, Power (up 1.56%), Capital Goods (up 1.25%) and Healthcare (up 1.12%) were the top
gainers.
Banks (down 1.04%), Oil & Gas (down 0.43%) and Consumer Durables (down 0.05%) were the top losers.
The Angels and the Devils
Bharat Heavy Electricals Ltd (up 6.63%), Sterlite Industries (India) Ltd (up 2.79%), NTPC Ltd (up 2.52%), Wipro Ltd
(up 2.52%) and Hero MotoCorp Ltd (up 2.35%) were the top gainers on the Sensex.
Oil and Natural Gas Corporation Ltd (down 3.16%), GAIL (India) Ltd (down 3.02%), ICICI Bank (down 2.58%), Tata
Steel Ltd (down 1.70%) and Tata Motors Ltd (down 0.93%) were the top losers on the Sensex.
Benchmark Drivers
ICICI Bank (-29.89 points), Infosys Ltd (18.46 points), Oil and Natural Gas Corporation Ltd (-17.67 points), Sun
ICICI Bank (-29.89 points), Infosys Ltd (18.46 points), Oil and Natural Gas Corporation Ltd (-17.67 points), Sun
Pharmaceutical Industries Ltd (9.48 points) and Hindustan Unilever Ltd (9.06 points) were the major Sensex drivers
today.
On the other end ICICI Bank (-7.82 points), Oil and Natural Gas Corporation Ltd (-4.44 points), Infosys Ltd (4.39
points), Axis Bank (-4.33 points) and IDFC Ltd (-3.48 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 5487 for next session. The next support is at 5444 and on upside it has a resistance at
5519 levels.
CNX Nifty
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
27-Aug-2013 5370 5412 5444 5487 5519 5561 5593 -
26-Aug-2013 5306 5342 5407 5443 5508 5544 5609 5476.50
23-Aug-2013 5137 5196 5302 5360 5467 5525 5632 5471.75
S&P BSE Sensex has a pivot at 18592 with first level of support and resistance at 18455 and 18695 respectively.
S&P BSE Sensex
Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close
27-Aug-2013 18216 18352 18455 18592 18695 18831 18934 -
26-Aug-2013 17969 18090 18305 18426 18640 18761 18976 18558.13
23-Aug-2013 17342 17551 17932 18141 18522 18731 19112 18519.44
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Finalaya daily wrap_26aug2013

  • 1. Sensex ends 0.21% higher; IDFC tanks 8% Market Summary 26-Aug-2013 Extending their previous session’s jubilation, Indian indices started gap up on positive global cues. Sentiments got boosted by Montek Singh Ahluwalia’s statement that domestic currency is over depreciated and government should use the foreign exchange reserves to deal with the crisis. Benchmarks were seen trading choppy throughout the day before ending marginally in green. Among BSE sectorials, banking index was the top laggard whereas power sector topped the charts. On global front, US and European markets traded on a mixed note whereas Asian indices were mostly in green zone. Back home, global rating agency, HSBC has downgraded Indian equities from 'overweight' to 'neutral' citing massive challenge of balancing trade-offs between defending a currency and supporting growth. The report stated that economic growth is slowing amidst rising inflation and widening current account deficit. (Read More) Technology major, Hexaware Technologies soared 6.13% on BSE as Baring Asia inked definitive agreements to acquire 41.8% stake in the company. (Read More) IDFC Ltd tanked 8.26% and hit fresh 52 week low at Rs 94.05 on BSE on decreasing upper limit for FIIs, FDI, NRIs, OCBs and Foreign Nationals from 74% to 54%. (Read More) Reliance Power gained 1.38% on BSE after Board nodded for Scheme of Arrangement with Reliance Clean Power, its step down subsidiary. (Read More) VIP Industries surged 8.76% on BSE after Rakesh Jhunjhunwala bought nearly 10 lac shares (7% stake) in the company. The market breadth on the BSE closed in positive. Advancing and declining stocks were 1339 and 1026 respectively, while 154 scrips remained unmoved. The S&P BSE Sensex ended at 18558.13, up 38.69 points or 0.21%. The 30 share index touched a high and a low of 18728.19 and 18488.93 respectively. 19 stocks advanced against 11 declining ones on the benchmark index. The CNX Nifty gained 4.75 points or 0.09% to settle at 5476.50. The index touched high and low of 5528.70 and 5454.45 respectively. 33 stocks advanced against 17 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved up to 5390.78 and gained 0.60% while S&P BSE Small-cap index jumped up by 0.80% to 5289.45. The broader S&P BSE 500 index increased to 6704.61 (up 0.29%) and CNX 500 index rose to 4194.50 (up 0.26%). The volatility as denoted by INDIA VIX gained 2.45% at 26.38 from its previous close of 25.75 on Friday. Sectors in action On the BSE Sectorial front, Power (up 1.56%), Capital Goods (up 1.25%) and Healthcare (up 1.12%) were the top gainers. Banks (down 1.04%), Oil & Gas (down 0.43%) and Consumer Durables (down 0.05%) were the top losers. The Angels and the Devils Bharat Heavy Electricals Ltd (up 6.63%), Sterlite Industries (India) Ltd (up 2.79%), NTPC Ltd (up 2.52%), Wipro Ltd (up 2.52%) and Hero MotoCorp Ltd (up 2.35%) were the top gainers on the Sensex. Oil and Natural Gas Corporation Ltd (down 3.16%), GAIL (India) Ltd (down 3.02%), ICICI Bank (down 2.58%), Tata Steel Ltd (down 1.70%) and Tata Motors Ltd (down 0.93%) were the top losers on the Sensex. Benchmark Drivers ICICI Bank (-29.89 points), Infosys Ltd (18.46 points), Oil and Natural Gas Corporation Ltd (-17.67 points), Sun
  • 2. ICICI Bank (-29.89 points), Infosys Ltd (18.46 points), Oil and Natural Gas Corporation Ltd (-17.67 points), Sun Pharmaceutical Industries Ltd (9.48 points) and Hindustan Unilever Ltd (9.06 points) were the major Sensex drivers today. On the other end ICICI Bank (-7.82 points), Oil and Natural Gas Corporation Ltd (-4.44 points), Infosys Ltd (4.39 points), Axis Bank (-4.33 points) and IDFC Ltd (-3.48 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 5487 for next session. The next support is at 5444 and on upside it has a resistance at 5519 levels. CNX Nifty Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 27-Aug-2013 5370 5412 5444 5487 5519 5561 5593 - 26-Aug-2013 5306 5342 5407 5443 5508 5544 5609 5476.50 23-Aug-2013 5137 5196 5302 5360 5467 5525 5632 5471.75 S&P BSE Sensex has a pivot at 18592 with first level of support and resistance at 18455 and 18695 respectively. S&P BSE Sensex Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 27-Aug-2013 18216 18352 18455 18592 18695 18831 18934 - 26-Aug-2013 17969 18090 18305 18426 18640 18761 18976 18558.13 23-Aug-2013 17342 17551 17932 18141 18522 18731 19112 18519.44 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.