Finalaya Daily Market Wrap 28 August 2014
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- The Indian stock market indices opened higher on the F&O expiry day, with the Sensex reaching a new record high. However, soft Asian market cues prevented further gains. - The Sensex settled up 0.25% while the Nifty gained 0.23% ahead of the announcement of Q1 GDP data. Capital goods stocks saw the largest gains among sectors. - Key stock movements included HCL Technologies hitting a 52-week high on a large deal win, while real estate and metals stocks declined.
Finalaya Daily Market Wrap 28 August 2014
- 1. Sensex flags new lifetime high on F&O expiry day Market Snapshot | 28-08-2014 04:20 PM Stretching the previous session’s bull-run, Indian indices made a jubilant start on the F&O expiry day. Sentiments remained upbeat with Sensex accelerating to new record high at 26674.38 whereas Nifty misses it by a whisker. However, the soft Asian cues restrained bulls to edge higher. Markets settled adding decent gain of around 0.25% with Sensex at 26638 and Nifty at 7954 ahead of announcement of Q1FY15 GDP data tomorrow. On BSE sectorial front, Capital Goods topped the gainers. Among the global indices, US and Asian markets exhibited mixed trades whereas European markets were trading in deep red amidst the geopolitical worries. Back home, on currency turf, Rupee continued to trade flat against Dollar for second consecutive session amidst positive local equities and month end dollar demand from importers. Among major macro-economic developments, a day after notifying 49% Foreign Direct Investment in defense sector, the Government of India today permitted 100% FDI through automatic route in rail infrastructure. Indian Railways is facing a cash crunch of around Rs 29000 crore and this move will buoy the sentiments for this sector. Railway stocks soared up to 5% on BSE today. On stock-specific front, HCL Technologies hit fresh 52 week high at Rs 1666 on BSE on receiving a $200 million deal from Bank of America Merrill Lynch to manage the IT infrastructure of the North Carolina-based banking and financial services giant and managing its network across different countries, according to sources in the company. However, the stock settled in red on profit booking. Nitesh Estates zoomed 9.7% on BSE on signing a Joint Development Agreement (JDA) for a new residential project which will have 262 residential Units and is expected to generate a total revenue of Rs 170 crore. Steel Strips Wheels (SSWL) climbed 3.45% on BSE on bagging an export order for 110K passenger car wheels worth USD 1 million for the Russian aftermarket. T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1447 and 1618 respectively, while 136 scrips remained unmoved. The S&P BSE Sensex ended at 26638.11, up 77.96 points or 0.29%. The 30 share index touched a high and a low of 26674.38 and 26573.69 respectively. 18 stocks advanced against 12 declining ones on the benchmark index. The CNX Nifty gained 18.30 points or 0.23% to settle at 7954.35. The index touched high and low of 7967.80 and 7939.20 respectively. 27 stocks advanced against 23 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved down to 9298.90 and lost 0.30% while S&P BSE Small-cap index jumped up by 0.10% to 10264.45. The broader S&P BSE 500 index increased to 10096.08 (up 0.10%) and CNX 500 index rose to 6360.75 (up 0.09%). The volatility as denoted by INDIA VIX gained 0.08% at 13.07 from its previous close of 13.06 on Wednesday. Sectors in action On the BSE Sectorial front, Capital Goods (up 1.43%), Oil & Gas (up 1.06%) and FMCG (up 0.74%) were the top gainers. Real Estate (down 1.91%), Metals (down 0.85%) and Information Technology (down 0.57%) were the top losers. The Angels and the Devils Bharat Heavy Electricals Ltd (up 5.04%), GAIL (India) Ltd (up 1.96%), Oil and Natural Gas Corporation Ltd (up 1.73%), Larsen And Toubro Ltd (up 1.62%) and Wipro Ltd (up 1.39%) were the top gainers on the Sensex. Tata Power Company Ltd (down 1.97%), Tata Steel Ltd (down 1.78%), State Bank of India (down 1.70%), NTPC Ltd (down 1.18%) and Hindalco Industries Ltd (down 1.10%) were the top losers on the Sensex.
- 2. Benchmark Drivers Larsen And Toubro Ltd (23.38 points), Infosys Ltd (-21.75 points), ICICI Bank (20.74 points), ITC Ltd (17.93 points) and State Bank of India (-16.44 points) were the major Sensex drivers today. On the other end ICICI Bank (5.53 points), Larsen And Toubro Ltd (5.53 points), ITC Ltd (4.76 points), Tata Consultancy Services Ltd (-4.70 points) and Infosys Ltd (-4.49 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 7954 for next session. The next support is at 7940 and on upside it has a resistance at 7968 levels. CCNNXX NNiiffttyy EEffff.. DDaattee SS 33 SS 22 SS 11 PPIIVVOOTT RR 11 RR 22 RR 33 AAccttuuaall CClloossee 01-Sep-2014 7911 7925 7940 7954 7968 7982 7997 - 28-Aug-2014 7889 7903 7919 7933 7950 7963 7980 7954.35 27-Aug-2014 7820 7841 7873 7894 7926 7947 7979 7936.05 S&P BSE Sensex has a pivot at 26629 with first level of support and resistance at 26583 and 26684 respectively. SS&&PP BBSSEE SSeennsseexx EEffff.. DDaattee SS 33 SS 22 SS 11 PPIIVVOOTT RR 11 RR 22 RR 33 AAccttuuaall CClloossee 01-Sep-2014 26482 26528 26583 26629 26684 26729 26784 - 28-Aug-2014 26395 26444 26502 26551 26609 26657 26715 26638.11 27-Aug-2014 26177 26246 26344 26413 26512 26580 26679 26560.15 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.