Finalaya daily market wrap 25 April 2014
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The Sensex shed 188 points amid pessimism in global markets and a lack of positive catalysts in India. Several major companies reported quarterly earnings, with Axis Bank, ICICI Bank, and Biocon reporting profits up over 15% while ACC, Exide Industries, and Maruti Suzuki reported profits down. The rupee recovered against the dollar and sectors like real estate, healthcare and consumer durables gained while oil & gas, FMCG and capital goods declined.
Finalaya daily market wrap 25 April 2014
- 1. Sensex sheds 188 points amidst pessimistic Asian trades Market Snapshot | 25-04-2014 04:22 PM After taking a pause for General Elections, Indian indices made a cautious start and dipped in red to trade marginally lower. Pessimism in global counterparts and absence of buying catalyst dragged markets further in noon trades. Both frontline gauges slipped over 0.8% at the close with Sensex slumping 188 points. Among BSE sectorials, Oil & Gas topped the laggards. On global front, US markets traded mixed whereas Asian and European markets lost their cool amidst the worries over military escalation near Ukrainian border. Back home, on currency front, Rupee recovered some of the lost ground against Dollar and was trading on a positive note. In futures trades, INR hit an intra-day high of 60.59/USD and an intra-day low of 61.19/USD. In spot trades, INR hit an intra-day high of 60.54/USD and an intra-day low of 61.14/USD. As per RBI reference rates, INR stood at 61.11/USD. On stock specific front, Strides Arcolab rallied 13% on BSE after USFDA approved company’s oral dosage forms manufacturing facility in Bangalore. The last USFDA inspection and approval for this facility was in the year 2011. Key Quarterly Results Automobile bellwether, Maruti Suzuki India ended 1.35% down on BSE on posting 35.46% slump in Q4 Net at Rs 800 crore as against Rs 1239.6 crore in the same quarter of the previous year. Banking giant, Axis Bank ended 1.1% up on BSE after registering 18.5% jump in Q4FY14 Net at Rs 1842.3 crore as compared to Rs 1555.1 crore in the same quarter of the previous year. Banking giant, ICICI Bank ended 2.3% down after making fresh 52 week high at Rs 1317.85 on BSE. Bank’s Q4 Net spurted 15% at Rs 2652 crore as compared to Rs 2304 crore in in the same quarter of the previous year. ACC Ltd slipped 3% on BSE after registering 9% fall in Q1 Net at Rs 398.7 crore as against Rs 437.7 crore in the same quarter of the previous year. Ambuja Cements ended 4.5% down after marking 52 week high at Rs 220 on BSE. The company posted 6.6% jump in Q1 net at Rs 520 crore as compared to Rs 487 crore in the same quarter of the previous year. Exide Industries slipped 3% on BSE after posting 9.8% decline in Q4 Net at Rs 132.41 crore as against Rs 146.4 crore in the same quarter of the previous year. Bosch Ltd climbed 2.8% on BSE after company’s Net grew 25.6% in Q4FY14 at Rs 326.2 crore as compared to Rs 259.7 crore in the same quarter of the previous year. Pharmaceutical major, Biocon ltd ended 1.4% up on BSE after recording a spike of 126.5% in Q4 Net at Rs 86.7 crore as compared to Rs 38.2 crore in the same quarter of the previous year. T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1333 and 1610 respectively, while 119 scrips remained unmoved. The S&P BSE Sensex ended at 22688.07, down 188.47 points or 0.82%. The 30 share index touched a high and a low of 22939.31 and 22656.64 respectively. 9 stocks advanced against 21 declining ones on the benchmark index. The CNX Nifty lost 58.05 points or 0.85% to settle at 6782.75. The index touched high and low of 6869.85 and 6772.85 respectively. 17 stocks advanced against 33 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved down to 7373.64 and lost 0.29% while S&P BSE Small-cap index hammered down by 0.64% to 7597.34. The broader S&P BSE 500 index decreased to 8456.05 (down 0.66%) and CNX 500 index declined to 5328.60 (down 0.63%). The volatility as denoted by INDIA VIX lost 1.45% at 30.68 from its previous close of 31.13 on Wednesday.
- 2. Sectors in action On the BSE Sectorial front, Real Estate (up 0.61%), Healthcare (up 0.46%) and Consumer Durables (up 0.44%) were the top gainers. Oil & Gas (down 2.11%), FMCG (down 2.02%) and Capital Goods (down 1.34%) were the top losers. The Angels and the Devils Mahindra and Mahindra Ltd (up 3.23%), Dr. Reddys Laboratories Ltd (up 2.36%), Housing Development Finance Corporation Ltd (up 1.62%), Axis Bank (up 1.10%) and State Bank of India (up 0.90%) were the top gainers on the Sensex. ITC Ltd (down 2.76%), NTPC Ltd (down 2.74%), Hindustan Unilever Ltd (down 2.58%), ICICI Bank (down 2.29%) and Hero MotoCorp Ltd (down 2.05%) were the top losers on the Sensex. Benchmark Drivers ITC Ltd (-62.42 points), Reliance Industries Ltd (-39.76 points), ICICI Bank (-39.51 points), Larsen And Toubro Ltd (- 25.42 points) and Housing Development Finance Corporation Ltd (24.21 points) were the major Sensex drivers today. On the other end ITC Ltd (-16.28 points), Reliance Industries Ltd (-10.08 points), ICICI Bank (-10.06 points), Larsen And Toubro Ltd (-6.62 points) and Housing Development Finance Corporation Ltd (6.47 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6808 for next session. The next support is at 6747 and on upside it has a resistance at 6844 levels. CNX NiftyCNX Nifty Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close 28-Apr-2014 6650 6711 6747 6808 6844 6905 6941 - 25-Apr-2014 6780 6800 6820 6841 6861 6882 6902 6782.75 23-Apr-2014 6770 6788 6802 6820 6833 6852 6865 6840.80 S&P BSE Sensex has a pivot at 22761 with first level of support and resistance at 22583 and 22866 respectively. S&P BSE SensexS&P BSE Sensex Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close 28-Apr-2014 22301 22479 22583 22761 22866 23044 23149 - 25-Apr-2014 22668 22724 22800 22856 22933 22989 23065 22688.07 23-Apr-2014 22581 22654 22706 22780 22832 22905 22957 22876.54 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.