Finalaya Daily Market Wrap 14 October 2014
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- The Indian stock market indices opened higher boosted by falling wholesale price inflation numbers but later turned negative due to weak global cues. - The Sensex closed down 34 points at 26,349 and the Nifty fell 20 points to settle at 7,864 as bearish sentiment increased. - Key sectors like real estate, IT and consumer durables declined while banks and healthcare provided some support to the markets.
Finalaya Daily Market Wrap 14 October 2014
- 1. Markets end in red shrugging off the slump in September WPI Market Snapshot | 14-10-2014 04:20 PM Boosted by the jubilant WPI numbers, Indian indices made a positive start. However, bears overpowered bulls on the back of weak global cues. Both barometer gauges ended in red zone after trading volatile for the day. The S&P BSE Sensex ended at 26349.33, down 34.74 points or 0.13%. The 30 share index touched a high and a low of 26550.79 and 26212.01 respectively. 16 stocks advanced against 14 declining ones on the benchmark index. T he CNX Nifty lost 20.25 points or 0.26% to settle at 7864.00. The index touched high and low of 7928.00 and 7825.45 respectively. 22 stocks advanced against 28 declining ones on the index. T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1381 and 1686 respectively, while 117 scrips remained unmoved. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved down to 9473.08 and lost 0.18% while S&P BSE Small-cap index hammered down by 0.14% to 10631.25. The broader S&P BSE 500 index decreased to 10057.48 (down 0.19%) and CNX 500 index declined to 6339.90 (down 0.20%). The volatility as denoted by INDIA VIX gained 0.62% at 14.59 from its previous close of 14.50 on Monday. On the global turf, US markets slid for the fifth straight day on persisting concerns of slowing global growth. European markets too were trading in deep red whereas Asian markets were seen exhibiting positive trades on bargain hunting. Back home, on macro-economic front, D-Street got some “Pre-Diwali” gifts in the form of falling WPI digits. Wholesale Price Index (WPI) digits for September eased to an awesome 33-months low level. India's main inflation gauge, based on monthly WPI, stood at 2.78% for the month of September as compared to 3.74% in the previous month and 7.05% during the corresponding month of the previous year. Except Realty, the other rate sensitive indices were largely seen in green owing to heightened rate cut expectations. Additionally, the festive season greeted another good news of a likely cut in petrol and diesel prices. With the price of international crude oil falling to over two-year low, oil companies may cut prices of petrol and diesel by Rs 1.50-2.50 effective from October 15 midnight. Sectors in action On the BSE Sectorial front, Power (up 0.57%), Banks (up 0.52%) and Healthcare (up 0.13%) were the top gainers. Real Estate (down 9.24%), Information Technology (down 0.77%) and Consumer Durables (down 0.63%) were the top losers. Among stock-specific moves, country’s real estate major, DLF crashed 28.46% to mark 52 week low at Rs 102.7 on BSE after SEBI debarred KP Singh, Chairman and top 5 executives of country's largest builder from entering securities markets for 3 years. The company has reportedly failed to disclose the material information to the investors at the time of equity offer in 2007. UPL climbed 2.8% on BSE after Reserve Bank of India (RBI) allowed the company to raise its foreign investment limit up to 74% of paid-up capital. Key Quarterly Results Country’s private sector bellwether, Reliance Industries (RIL) registered a marginal rise of 4.59% in Q2FY15 Net at Rs 5742 crore as compared to Rs 5490 crore for the same quarter in the previous year. On the consolidated basis, company’s Net rose 1.69% to Rs 5972 crore for the quarter as compared to Rs 5873 crore in Q2FY14. The stock ended marginally down. Bajaj Finance gained 0.63% on BSE after recording 18.02% jump in Q2 Net at Rs 197.15 crore as compared to Rs 167.04 crore for the same quarter in the previous year.
- 2. The Angels and the Devils Bharat Heavy Electricals Ltd (up 3.56%), Axis Bank (up 2.76%), Bajaj Auto Ltd (up 2.50%), Tata Power Company Ltd (up 1.88%) and Bharti Airtel Ltd (up 1.72%) were the top gainers on the Sensex. Tata Motors Ltd (down 1.64%), Housing Development Finance Corporation Ltd (down 1.44%), Oil and Natural Gas Corporation Ltd (down 1.27%), ITC Ltd (down 0.87%) and HDFC Bank (down 0.86%) were the top losers on the Sensex. Benchmark Drivers Housing Development Finance Corporation Ltd (-25.11 points), Axis Bank (20.21 points), ITC Ltd (-19.53 points), HDFC Bank (-16.77 points) and Tata Motors Ltd (-16.67 points) were the major Sensex drivers today. On the other end Housing Development Finance Corporation Ltd (-5.94 points), ITC Ltd (-5.73 points), DLF Ltd (-5.42 points), HDFC Bank (-4.73 points) and Axis Bank (4.53 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 7872 for next session. The next support is at 7817 and on upside it has a resistance at 7920 levels. CCNNXX NNiiffttyy EEffff.. DDaattee SS 33 SS 22 SS 11 PPIIVVOOTT RR 11 RR 22 RR 33 AAccttuuaall CClloossee 16-Oct-2014 7714 7770 7817 7872 7920 7975 8022 - 14-Oct-2014 7715 7755 7820 7860 7925 7966 8030 7864.00 13-Oct-2014 7755 7802 7831 7877 7907 7953 7982 7884.25 S&P BSE Sensex has a pivot at 26371 with first level of support and resistance at 26191 and 26529 respectively. SS&&PP BBSSEE SSeennsseexx EEffff.. DDaattee SS 33 SS 22 SS 11 PPIIVVOOTT RR 11 RR 22 RR 33 AAccttuuaall CClloossee 16-Oct-2014 25852 26032 26191 26371 26529 26709 26868 - 14-Oct-2014 25820 25956 26170 26307 26521 26657 26871 26349.33 13-Oct-2014 25893 26077 26187 26372 26482 26666 26776 26384.07 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.