Finalaya daily wrap_03jun2013
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- The Indian markets declined tracking weak global cues and disappointing domestic manufacturing PMI numbers. The Sensex ended 150 points lower and Nifty below 6K. - Key factors contributing to the fall included a contraction in India's manufacturing PMI to its lowest level since 2009 and declines in sales reported by automakers like Bajaj Auto and Maruti Suzuki. - Some stocks like Infosys gained on news of founder Narayan Murthy returning to an executive role, while others like CRISIL and GlaxoSmithKline rose on plans by parent companies to increase their stakes.
Finalaya daily wrap_03jun2013
- 1. Sensex ends 150 points down on disheartening PMI numbers Market Summary 03-Jun-2013 Tracking weak global cues, Indian markets plunged in morning deals after opening marginally in green. Benchmarks continued the downfall on the back of disheartening PMI numbers. On sectorial front, Oil and Gas sector was the straggler on BSE followed by Consumer durables. Benchmarks ended in negative terrain with Sensex shedding 150 points and Nifty below 6K. Globally, US markets traded marginally in green while European and Asian Indices fell in red zone. India’s HSBC Manufacturing Purchasing Managers' Index factory output dwindled to 50.1 in May as against 51 in previous month. This was the lowest level since March 2009 and was the third consecutive monthly fall. IT major, Infosys surged 4.42% on BSE today celebrating the return of Narayan Murthy in executive role after 7 years. The stock was the star performer on both Sensex and Nifty. Credit rating firm, CRISIL soared 20% on BSE as McGraw Hill Financial Inc has offered to increase its stake in the company to 75 percent from 52.77 percent via open offer. The Offer price is fixed at Rs 1210 per share which is more than company’s record high of Rs 1150.3 in April 2012. (News) Bajaj Auto slipped 3.32% on BSE on registering a fall of 4% in May 2013 sales to 339348 units as compared to 352219 units in April. (News) Maruti Suzuki dipped 2.27% on BSE after the company posted 14% decline in sales of May 2013 at 84677 units on year on year basis. GlaxoSmithKline Pharmaceuticals spiked 6.15% and hit a fresh 52 week high at Rs 2899 on BSE as the parent company GSK Plc is likely to hike its stake to 75% through open offer that will take place in the next two-three months. Essar Ports plunged 1.02% on BSE as the company fixed a discounted price of Rs 77 per share for Offer for Sale (OFS) against a previous close of Rs 78.15. (News) BGR Energy tanked 1.88% to touch fresh 52 week low at Rs 167.75 on BSE on receiving disappointing response for Offer for Sale (OFS). The stock was trading higher than set floor price of Rs 163.84 per share. Omaxe tumbled 6.09% on BSE as the company’s Offer for Sale (OFS) got bids for over 39 lakh shares as against the issue size of over 2 crore shares. Welspun Corp spurted 3.94% on BSE as the company has demerged its subsidiary Welspun Infra Enterprises into separate entity and renamed it as Welspun Enterprises. (News) T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1047 and 1341 respectively, while 136 scrips remained unmoved. The S&P BSE Sensex ended at 19610.48, down 149.82 points or 0.76%. The 30 share index touched a high and a low of 19860.19 and 19541.97 respectively. 10 stocks advanced against 20 declining ones on the benchmark index. The CNX Nifty lost 46.65 points or 0.78% to settle at 5939.30. The index touched high and low of 6011.00 and 5916.35 respectively. 18 stocks advanced against 32 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved up to 6405.90 and gained 0.26% while S&P BSE Small-cap index hammered down by 0.12% to 5936.06. The broader S&P BSE 500 index decreased to 7408.14 (down 0.45%) and CNX 500 index declined to 4659.30 (down 0.47%). The volatility as denoted by INDIA VIX gained 1.77% at 17.29 from its previous close of 16.99 on Friday. Sectors in action
- 2. On the BSE Sectorial front, Information Technology (up 1.01%), Metals (up 0.38%) and Real Estate (up 0.33%) were the top gainers. Oil & Gas (down 1.84%), Power (down 1.02%) and Capital Goods (down 0.99%) were the top losers. The Angels and the Devils Infosys Ltd (up 4.42%), Jindal Steel and Power Ltd (up 2.25%), Tata Steel Ltd (up 1.64%), GAIL (India) Ltd (up 1.42%) and State Bank of India (up 1.07%) were the top gainers on the Sensex. Hero MotoCorp Ltd (down 3.65%), Bajaj Auto Ltd (down 3.32%), Oil and Natural Gas Corporation Ltd (down 2.85%), Sun Pharmaceutical Industries Ltd (down 2.68%) and Housing Development Finance Corporation Ltd (down 2.40%) were the top losers on the Sensex. Benchmark Drivers Infosys Ltd (61.77 points), Housing Development Finance Corporation Ltd (-37.19 points), Reliance Industries Ltd (- 37.06 points), HDFC Bank (-25.82 points) and ITC Ltd (-23.37 points) were the major Sensex drivers today. On the other end Infosys Ltd (15.49 points), Reliance Industries Ltd (-10.15 points), Housing Development Finance Corporation Ltd (-9.58 points), HDFC Bank (-6.70 points) and ITC Ltd (-6.60 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6023 for next session. The next support is at 5939 and on upside it has a resistance at 6070 levels. CNX Nifty Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 03-Jun-2013 5808 5892 5939 6023 6070 6153 6200 5939.30 31-May-2013 6025 6048 6086 6110 6148 6172 6209 5985.95 30-May-2013 6019 6044 6074 6100 6130 6155 6185 6124.05 S&P BSE Sensex has a pivot at 19894 with first level of support and resistance at 19597 and 20058 respectively. S&P BSE Sensex Eff. Date S 3 S 2 S 1 PIVOT R 1 R 2 R 3 Actual Close 03-Jun-2013 19136 19433 19597 19894 20058 20355 20518 19610.48 31-May-2013 19915 19991 20103 20179 20291 20366 20479 19760.30 30-May-2013 19884 19965 20056 20136 20228 20308 20400 20215.40 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.