Finalaya daily wrap_12oct2012
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The Indian markets faced a decline, largely influenced by Infosys's lowered earnings forecast, despite a positive surprise in the industrial output, which grew by 2.7% in August 2012. The BSE Sensex closed down 0.69%, while the Nifty fell 0.56%, amid mixed performances in various sectors with IT and real estate stocks leading the losses. Consumer inflation decreased to 9.73% in September, reflecting the government's shift to use CPI as a primary inflation indicator.
Finalaya daily wrap_12oct2012
- 1. Markets lose on Infy guidance; IIP, CPI beat expectations Market Summary 12-Oct-2012 Following a weak start on the back of a lower earnings forecast by IT major Infosys, markets regained some ground on forecast beating IIP numbers. However the poor beginning of European markets once again sent the markets into somber mood. Sensex finally ended the day in red with about 0.7% losses. India’s IT major, Infosys reported a 24.29 % rise in Q2 consolidated net profit at Rs 2369.00 crore for the quarter ended September 30, 2012 as compared to Rs 1906 crore for the same quarter in the previous year. Total income has increased by 24.49% at Rs 10564.00 crore for quarter under review as compared to Rs 8486.00 crore for the quarter ended September 30, 2011. (News) In a positive surprise, India’s index of industrial production (IIP), a key measure of industrial output registered decent growth of 2.7 per cent in August 2012 at 165.7, lower than the growth rate of 3.4 percent in the corresponding period last year, but way above the consensus estimates of sub 1 percent growth figure. Further, the number was also higher than July month’s negligible growth figure of 0.1 per ceIIPnt, which was later revised to -0.2 per cent. (News) As per the government data released today, retail inflation, measured by the consumer price index (CPI), fell to 9.73% in September from 10.03% in August despite the hike in diesel price middle of the month. This is worthwhile to note that government has, for the first time released CPI data ahead of WPI data indicating its preference to use CPI as future inflation indicator. T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1363 and 1513 respectively, while 125 scrips remained unmoved. The BSE Sensex ended at 18675.18, down 129.57 points or 0.69%. The 30 share index touched a high and a low of 18844.35 and 18638.34 respectively. 14 stocks advanced against 16 declining ones on the benchmark index. The S&P CNX Nifty lost 32.00 points or 0.56% to settle at 5676.05. The index touched high and low of 5725.00 and 5659.35 respectively. 21 stocks advanced against 27 declining ones on the index. Sensex Nifty The BSE Mid-cap index moved up to 6676.85 and gained 0.08% while Small-cap index jumped up by 0.03% to 7109.73. The broader BSE 500 index decreased to 7213.64 (down 0.38%) and S&P CNX 500 index declined to 4506.15 (down 0.39%). The volatility as denoted by INDIA VIX gained 0.00% at 16.49 from its previous close of 16.49 on Thursday. Sectors in action On the BSE Sectorial front, Consumer Durables (up 0.60%), Healthcare (up 0.49%) and FMCG (up 0.21%) were the top gainers. Information Technology (down 2.59%), Real Estate (down 0.88%) and Automobile (down 0.73%) were the top losers. The Angels and the Devils GAIL (India) Limited (up 1.16%), Cipla Limited (up 1.01%), HDFC Bank (up 0.94%), Tata Consultancy Services Limited (up 0.66%) and Hindustan Unilever Limited (up 0.60%) were the top gainers on the Sensex. Infosys Limited (down 5.36%), Bharti Airtel Limited (down 2.58%), Bharat Heavy Electricals Limited (down 2.46%), Wipro Limited (down 2.01%) and Hero MotoCorp Ltd. (down 1.61%) were the top losers on the Sensex. Benchmark Drivers Infosys Limited (-78.88 points), ICICI Bank (-17.76 points), HDFC Bank (13.15 points), Housing Development Finance Corporation Limited (-12.53 points) and Bharti Airtel Limited (-10.91 points) were the major Sensex drivers today. On the other end Infosys Limited (-20.19 points), ICICI Bank (-4.56 points), HDFC Bank (3.57 points), Housing Development Finance Corporation Limited (-3.44 points) and Bharti Airtel Limited (-2.77 points) were the major Nifty
- 2. Development Finance Corporation Limited (-3.44 points) and Bharti Airtel Limited (-2.77 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels S&P CNX Nifty is now pivoted at 5687 for next session. The next support is at 5649 and on upside it has a resistance at 5714 levels. S&P CNX Nifty Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close 15-Oct-2012 5583 5621 5649 5687 5714 5752 5780 - 12-Oct-2012 5572 5605 5656 5689 5740 5773 5825 5676.05 11-Oct-2012 5598 5622 5637 5662 5677 5701 5716 5708.05 Sensex has a pivot at 18719 with first level of support and resistance at 18594 and 18800 respectively. Sensex Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close 15-Oct-2012 18388 18513 18594 18719 18800 18925 19006 - 12-Oct-2012 18375 18478 18642 18745 18908 19011 19174 18675.18 11-Oct-2012 18457 18536 18583 18662 18710 18788 18836 18804.75 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.