Finalaya daily wrap_18nov2013
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The Sensex skyrocketed over 450 points following a long weekend, riding positive trades in regional peers and a strengthened rupee against the dollar. The rupee gained for the third consecutive session on dovish comments from the US Fed and ahead of an RBI bond buyback program. The RBI governor also highlighted that several factors beyond inflation will be considered for the next monetary policy decision. Sectoral gains were led by capital goods, which surged over 3%.
Finalaya daily wrap_18nov2013
- 1. Sensex skyrockets 450 points on strong Rupee Market Snapshot | 18-11-2013 04:20 PM Following a long weekend, Indian indices stretched the bullish moves of last trading session with a gap up start riding the optimistic trades in regional peers. Boisterous benchmarks showcased an enthusiastic performance on strengthened Rupee against Dollar and sanguine comments by RBI Governor. Both frontline gauges ended at their day’s high levels with Sensex zooming over 450 points. On BSE sectorial front, Capital Goods rocked the show by surging over 3%. Among global peers, US indices traded higher. Asian and European indices too traded in positive terrain after Chinese Communist Party signaled for its focus on fiscal aspects. Back home, Rupee gained for third consecutive session against Dollar on the back of strong buying in the domestic currency after the dovish comments from Yellen of no forthcoming decision to scale back the Fed's bond buying program. Meanwhile, domestic currency also witnessed heavy buying ahead of Rs 8000 crore bond buyback program from RBI today. (Read More) In an attempt to calm the fears of tight monetary policy stance, RBI governor highlighted to consider several other factors besides inflation for the next monetary policy move. Dr. Rajan had call attention to factors like price situation, value of rupee, economic growth etc for the next monetary policy to be reviewed in Mid-December. (Read More) On stock specific front, Elder Pharmaceutical mounted 5.3% on BSE as reportedly French drug maker Sanofi SA is planning to acquire the pharmaceutical company. Ramco Systems rallied 20% on BSE on making stronger global presence for HCM products by delivering ERP on Cloud, Tablets and Smart phones to consultants and boutique firms as business partners in North America. ( Read More) Financial Technologies and MCX shot 20% and 17.5% on BSE respectively lifted by strong volumes. Key Quarterly Results Tata Power ends marginally up as the company’s Net dived 11.5% to Rs 261.7 crore in September 2013 quarter as compared to Rs 295.9 crore in the same quarter of the previous year. (Featured Result) Jai Prakash Power Ventures ended marginally in green after registering a steep decline of 31% in Q2 Net at Rs 251.8 crore as against Rs 366 crore in the corresponding quarter of previous fiscal. (Result) The market breadth on the BSE closed in positive. Advancing and declining stocks were 1459 and 1086 respectively, while 134 scrips remained unmoved. The S&P BSE Sensex ended at 20850.74, up 451.32 points or 2.21%. The 30 share index touched a high and a low of 20868.76 and 20570.59 respectively. 26 stocks advanced against 4 declining ones on the benchmark index. The CNX Nifty gained 132.85 points or 2.19% to settle at 6189.00. The index touched high and low of 6157.80 and 6110.40 respectively. 44 stocks advanced against 6 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved up to 6213.36 and gained 1.18% while S&P BSE Small-cap index jumped up by 0.96% to 6013.30. The broader S&P BSE 500 index increased to 7587.83 (up 1.88%) and CNX 500 index rose to 4760.65 (up 1.94%). The volatility as denoted by INDIA VIX lost 2.28% at 18.82 from its previous close of 19.26 on Thursday. Sectors in action On the BSE Sectorial front, Capital Goods (up 3.19%), Banks (up 3.15%) and FMCG (up 2.52%) were the top gainers.
- 2. The Angels and the Devils HDFC Bank (up 4.15%), Larsen And Toubro Ltd (up 3.90%), ITC Ltd (up 3.61%), Hindalco Industries Ltd (up 3.34%) and Oil and Natural Gas Corporation Ltd (up 3.22%) were the top gainers on the Sensex. Sesa Sterlite Ltd (down 1.36%), Coal India Ltd (down 1.15%), Cipla Ltd (down 0.43%) and Bajaj Auto Ltd (down 0.16%) were the top losers on the Sensex. Benchmark Drivers ITC Ltd (73.62 points), HDFC Bank (59.65 points), Reliance Industries Ltd (46.98 points), Larsen And Toubro Ltd (35.71 points) and Housing Development Finance Corporation Ltd (34.64 points) were the major Sensex drivers today. On the other end ITC Ltd (18.73 points), HDFC Bank (14.76 points), Reliance Industries Ltd (11.90 points), Larsen And Toubro Ltd (9.30 points) and Housing Development Finance Corporation Ltd (9.08 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6165 for next session. The next support is at 6134 and on upside it has a resistance at 6220 levels. CNX Nifty Eff. Date 19-Nov-2013 18-Nov-2013 14-Nov-2013 S3 6048 5963 5891 S2 6079 6000 5932 S1 6134 6028 5961 PIVOT 6165 6065 6001 R1 6220 6093 6030 R2 6252 6130 6071 R3 6307 6158 6100 Actual Close 6150.70 6056.15 S&P BSE Sensex has a pivot at 20763 with first level of support and resistance at 20658 and 20956 respectively. S&P BSE Sensex Eff. Date 19-Nov-2013 18-Nov-2013 14-Nov-2013 S3 20360 20088 19912 Follow us on S2 20465 20218 20037 S1 20658 20309 20115 PIVOT 20763 20439 20241 R1 20956 20530 20319 R2 21062 20660 20444 R3 21254 20750 20523 Actual Close 20850.74 20399.42 This content is generated at www.finalaya.com and is governed by the Terms of Use.