Finalaya daily wrap_30dec2013
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- The Indian stock market ended lower ahead of the upcoming release of fiscal deficit data for April-November, with the Nifty closing below 6,300 points. - Markets were subdued due to weak global cues and concerns over India's stressed fiscal situation, as 84% of the budget estimates were already used in the first seven months of the fiscal year. - Most Asian markets closed higher but European markets declined, while US indices ended flat.
Finalaya daily wrap_30dec2013
- 1. Nifty ends below 6300 ahead of fiscal deficit data Market Snapshot | 30-12-2013 04:20 PM Following a positive start, Indian benchmarks soon dipped in red on soft global cues. Markets remained in somber mood amidst missing fresh buying activities ahead of April ā November fiscal deficit reading tomorrow. Already fiscal situation for the economy is stressed as 84% of budget estimates were covered in first seven months itself. Indices trickled down to end near dayās low levels with Nifty below 6300 mark. On BSE sectorial front, Realty was the top loser. Among global peers, US indices traded flat. Most of the Asian indices edged higher whereas European benchmarks plunged in red. Back home, on macro front, Reserve Bank of India released its eighth Financial Stability report with an optimistic view towards the domestic economy. The apex bank said that the economy is ready to face US Fed tapering and expects Current Account Deficit (CAD) to be less than 3% of GDP during the current fiscal. Welspun Corp rallied 10% on BSE as the companyās subsidiary Welspun Infra Projects (WIPPL) entered into a share sale agreement with Leighton Group to sell Welspunās entire 39.88% stake in Leighton Welspun Contractors India (LWIN) for $99 million. (Read More) Idea Cellular gained 1.4% on BSE after receiving shareholderās nod to raise investment limit for foreign investors to 49%. (Read More) RBI has lifted ban on purchase of the Axis Bank's shares by foreign institutional investors (FIIs) after the bank received Government approval to raise foreign institutional buying upto 62%. The stock ended marginally down on pessimistic sentiments in market. (Read More) United Spirits ended marginally up after Competition Commission of India (CCI) nodded for the companyās proposed sale of a distillery in Tamil Nadu to Enrica Enterprises citing no adverse competition concerns. (Read More) The market breadth on the BSE closed in positive. Advancing and declining stocks were 1417 and 1193 respectively, while 161 scrips remained unmoved. The S&P BSE Sensex ended at 21143.01, down 50.57 points or 0.24%. The 30 share index touched a high and a low of 21304.70 and 21089.21 respectively. 14 stocks advanced against 16 declining ones on the benchmark index. The CNX Nifty lost 22.70 points or 0.36% to settle at 6291.10. The index touched high and low of 6344.05 and 6273.15 respectively. 16 stocks advanced against 34 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved down to 6657.31 and lost 0.10% while S&P BSE Small-cap index jumped up by 0.22% to 6530.20. The broader S&P BSE 500 index decreased to 7806.13 (down 0.26%) and CNX 500 index declined to 4899.95 (down 0.30%). The volatility as denoted by INDIA VIX gained 2.86% at 15.08 from its previous close of 14.66 on Friday. Sectors in action On the BSE Sectorial front, Metals (up 0.68%), FMCG (up 0.33%) and Oil & Gas (up 0.15%) were the top gainers. Real Estate (down 1.59%), Information Technology (down 0.85%) and Banks (down 0.67%) were the top losers. The Angels and the Devils Bharat Heavy Electricals Ltd (up 3.52%), Coal India Ltd (up 2.30%), Housing Development Finance Corporation Ltd (up 0.99%), Tata Motors Ltd (up 0.92%) and Hindustan Unilever Ltd (up 0.76%) were the top gainers on the Sensex. Infosys Ltd (down 1.70%), Bajaj Auto Ltd (down 1.65%), Mahindra and Mahindra Ltd (down 1.56%), Larsen And Toubro Ltd (down 1.24%) and ICICI Bank (down 1.13%) were the top losers on the Sensex.
- 2. Benchmark Drivers Infosys Ltd (-34.31 points), ICICI Bank (-16.74 points), Reliance Industries Ltd (13.81 points), Housing Development Finance Corporation Ltd (13.39 points) and Larsen And Toubro Ltd (-12.94 points) were the major Sensex drivers today. On the other end Infosys Ltd (-8.34 points), ICICI Bank (-4.54 points), Reliance Industries Ltd (4.25 points), Larsen And Toubro Ltd (-3.37 points) and Housing Development Finance Corporation Ltd (3.11 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels CNX Nifty is now pivoted at 6303 for next session. The next support is at 6261 and on upside it has a resistance at 6332 levels. CNX Nifty Eff. Date 31-Dec-2013 30-Dec-2013 27-Dec-2013 S3 6191 6258 6215 S2 6232 6274 6237 S1 6261 6294 6258 PIVOT 6303 6309 6280 R1 6332 6329 6301 R2 6374 6345 6324 R3 6403 6365 6345 Actual Close 6291.10 6313.80 S&P BSE Sensex has a pivot at 21179 with first level of support and resistance at 21053 and 21269 respectively. S&P BSE Sensex Eff. Date 31-Dec-2013 30-Dec-2013 27-Dec-2013 S3 20838 21004 20890 Follow us on S2 20963 21059 20952 S1 21053 21126 21013 PIVOT 21179 21181 21075 R1 21269 21248 21136 R2 21394 21303 21197 R3 21484 21370 21259 Actual Close 21143.01 21193.58 This content is generated at www.finalaya.com and is governed by the Terms of Use.