Finalaya daily wrap_07feb2013
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The Sensex continues its losing streak for the sixth consecutive session, closing down 0.6% following a disappointing GDP growth estimate of 5% for FY12-13. Negative market performance was reflected globally, with U.S. markets ending flat and Asian indices declining, while several companies reported mixed quarterly results. The market breadth was negative, with advancing stocks at 1078 and declining at 1817 on BSE, prompting further declines in mid-cap and small-cap indices.
Finalaya daily wrap_07feb2013
- 1. Sensex continues losing streak for sixth straight session on GDP shock Market Summary 07-Feb-2013 Following a negative start tracking sluggish global cues, Sensex rose above 19700 levels in post morning deals and plummeted thereafter on lesser than expected GDP data. Central Statistical Office (CSO) has pegged the FY12-13 GDP growth at 5% versus 6.2% for FY2011-12, much below the government and RBI estimates. The markets could not recover from the shock and continued to trade in red till end. Sensex closed in negative for sixth straight day losing 0.6%. Globally, U.S. markets end flat while Asian benchmarks closed in negative ahead of the European Central Bank's policy meeting. European indices were trading in positive. NTPC's 9.5% stake sell via Offer for Sale (OFS) route generated good investor response and the sell is over- subscribed at an indicative price of above Rs 145.90 per share. The sell would fetch govt a sum of over Rs. 11400 crore. The stock closed at Rs 148.15, down 2.72% on BSE . Key Quarterly Results: Cipla Ltd’s Net rose slower than expected 25.5% in Q3 at Rs 338.78 crore. The stock closed 2.61% down on BSE. (Featured Result) Godrej Industries registered a robust 361% increase in Net Profit Q3 at Rs 131.37 crore. Q3 consolidated net grew 112% to Rs 179.44 for the company. The stock gained 2.04% on BSE. (Result) Tech Mahindra’s Net grew 74% in Q3 at Rs 189.09 crore. The stock closed 1.06% up on BSE. (Result) Manappuram Finance disappointed street by reporting 48% decline in Q3 Net profit on YoY basis to Rs 84.38 crore. The scrip was hammered 8.32% on BSE. United Breweries Ltd reported 17% growth in Q3 Net at Rs 33.52 crore. The stock closed 1.81% down on BSE. (Result) AstraZeneca Pharma’s Net plunged 218% in Q3 to a Net Loss of 17.69 crores. The stock closed 4.66% down on BSE after hitting a new 52 week low of 1255.10. (Result) T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1078 and 1817 respectively, while 142 scrips remained unmoved. The BSE Sensex ended at 19580.32, down 59.40 points or 0.30%. The 30 share index touched a high and a low of 19702.56 and 19540.08 respectively. 12 stocks advanced against 18 declining ones on the benchmark index. The S&P CNX Nifty lost 20.40 points or 0.34% to settle at 5938.80. The index touched high and low of 5978.50 and 5927.60 respectively. 16 stocks advanced against 34 declining ones on the index. Sensex Nifty The BSE Mid-cap index moved down to 6805.07 and lost 0.88% while Small-cap index hammered down by 1.34% to 6859.10. The broader BSE 500 index decreased to 7530.01 (down 0.54%) and S&P CNX 500 index declined to 4713.25 (down 0.52%). The volatility as denoted by INDIA VIX gained 4.42% at 14.89 from its previous close of 14.26 on Wednesday. Sectors in action On the BSE Sectorial front, Information Technology (up 0.63%), Automobile (up 0.30%) and FMCG (up 0.03%) were the top gainers. Consumer Durables (down 3.34%), Real Estate (down 1.47%) and Power (down 1.39%) were the top losers.
- 2. The Angels and the Devils Mahindra and Mahindra Ltd (up 1.26%), Tata Consultancy Services Ltd (up 1.20%), Tata Motors Ltd (up 0.89%), Infosys Ltd (up 0.56%) and Coal India Ltd (up 0.47%) were the top gainers on the Sensex. Sterlite Industries (India) Ltd (down 2.92%), NTPC Ltd (down 2.72%), Cipla Ltd (down 2.61%), GAIL (India) Ltd (down 2.29%) and Bharti Airtel Ltd (down 2.08%) were the top losers on the Sensex. Benchmark Drivers ICICI Bank (-13.38 points), Larsen And Toubro Ltd (-12.22 points), Tata Consultancy Services Ltd (11.53 points), Bharti Airtel Ltd (-10.76 points) and Infosys Ltd (8.94 points) were the major Sensex drivers today. On the other end ICICI Bank (-3.60 points), Tata Consultancy Services Ltd (2.92 points), Larsen And Toubro Ltd (-2.76 points), Bharti Airtel Ltd (-2.59 points) and State Bank of India (-2.00 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels S&P CNX Nifty is now pivoted at 5948 for next session. The next support is at 5918 and on upside it has a resistance at 5969 levels. S&P CNX Nifty Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close 08-Feb-2013 5867 5897 5918 5948 5969 5999 6020 - 07-Feb-2013 5907 5930 5945 5968 5982 6006 6020 5938.80 06-Feb-2013 5922 5935 5946 5958 5969 5982 5993 5959.20 Sensex has a pivot at 19608 with first level of support and resistance at 19513 and 19675 respectively. Sensex Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close 08-Feb-2013 19350 19445 19513 19608 19675 19770 19838 - 07-Feb-2013 19422 19517 19578 19673 19734 19829 19890 19580.32 06-Feb-2013 19537 19584 19622 19670 19707 19755 19793 19639.72 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.