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10 JUNE 2013
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%Chg
-33.89 0.05 26.68 23.99
MARKET INSIGHT
On Friday 07 May 2013, Weakness of Rupee past 57 per dollar mark also perturbed investors';
%Chg
-158.52 -41.95
%Chg
-0.30 6.45 0.42 3.21
however the depreciation of Indian currency brought cheer for Information Technology stocks which derive lion share of their revenue in foreign currency. On the BSE Sectoral front, sole Technology stocks were the day's winner, while rest of them ended down and out in red. Prominent losers were stocks belonging to Realty, Public Sector Undertaking and Auto counters. Auto stocks have been on declining trajectory ever since reporting disappointing monthly sales figures. The market breadth on the BSE remained negative; advances and declining stocks were in a ratio of 1029: 1328, while 169 scrips remained unchanged. On the global front, both Asian and European markets failed to capitalise on an overnight gain in Wall Street, as investors sought to square their positions before the payrolls data. The job numbers may shed new light on whether the Fed is likely to taper its $85 billion a month stimulus programme in coming weeks. The BSE Sensex lost 71.90 points or 0.37% to settle at 19447.59.The index touched a high and a low of 19711.55 and 19397.51 respectively. Among the 30-share Sensex pack, 8 stocks gained, while 2 stocks declined. The BSE Mid cap and Small cap indices ended lower by 0.53% and 0.09% respectively. On the BSE Sectoral front, IT up by 1.66% and Teck up by 0.71% were the only gainers, while Realty down by 1.40%, Auto down by 1.38%, PSU down by 1.38%, Power down by 1.31% and Bankex down by 1.30% were the top losers. (Provisional) India VIX, a gauge for markets short term expectation has ended flat to its previous close of 16.78 on Thursday. The CNX Nifty lost 35.65 points or 0.60% to settle at 5,885.75. The index touched high and low of 5,972.70 and 5,871.30 respectively. 10 stocks advanced against 40 declining on the index. (Provisional) Asian markets ended lower on Friday, once again dragged down by the Japan's Nikkei, which went home with red mark dropping three days in a row, partly because of a stronger yen that pulled down exporters' stocks. Chinese market closed lower, because of continued profittaking amid weakness in regional stock markets and as investors cashed out ahead of the Dragon Boat Festival Holiday. South Korea's Kospi ended with red mark, as Samsung Electronics shares slumped 6.2% amid concerns over slowing growth in its mobile business.
World Indices
Dow Jones Nasdaq FTSE 100 15248 3469 6412
%Chg
1.38 1.31 1.20
Commodity
Crude (US$/bl)
%Chg
96.0 1384.0 1.27 -2.09
Close Price
1522.6 2195.1 378.40 761 2450.5
%Chg
3.53 2.68 1.45 1.02 0.86
Top 5 Loser
JPASSOCIAT AXISBANK BHARTIARTL BANKBARODA MARUTI
Close Price
64.55 1372 287.15 657.40 1549.65
%Chg
-3.3 -3.25 -2.69 -2.61 -2.36
SEBI RegnBSE: No.INB BSE: INB010985834 / NSE: INB230781431 SEBI Reg.No: 010985834, F&O: INF 010985834
PMS Regn No. INP000002387 NSE: INB 230781431, F&O: INF 230781431, DP: IN-DP-CDSL-73-2000, IN-DP-NSDL-140-2000 MCX/TCM/CORP/0740 NCDEX/TCM/CORP/0293
Morning Note
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QUANTITATIVE ANALYSIS: Prolonging previous session's downtrend Indian equity markets registered yet another weak session on Friday. Reversal of trade took place in the second half of the session as market-participants booked profit at day's high point tracing the mostly negative start of European markets. Investors also preferred staying on the sidelines ahead of the release of crucial macro-economic data, i.e., IIP and WPI Sentiments, however, took a hit for the worst after CBDT reportedly issued notices to four more banks on Cobrapost allegations. The four banks to which notice were issued were Allahabad Bank, Canara Bank, ING Vysya Bank and Bank of Baroda; all were clobbered out of shape and ended with loss in the range of 1.25-3.75%. By the close of trade, benchmark indexes, Sensex and Nifty lost around half a percent and settled near 19500 and 5900 respectively. For the upcoming sessions we believe spot index may continue its upward journey however 5930 followed by 5850 could be near term support levels. Any drift below these levels may further drag spot index towards 5700 where we might see some consolidation. On the flip side 6190-6250 could be the crucial resistance zone. HAPPY TRADING........
Support 2
19112 5812 11710
Support 1
19377 5868 11955
Previous Close
19429 5881 12229
Resistance 1
19705 5966 12705
Resistance 2
19980 6006 13096
Trend
Rangebound Rangebound Rangebound
SEBI RegnBSE: No.INB BSE: INB010985834 / NSE: INB230781431 SEBI Reg.No: 010985834, F&O: INF 010985834
PMS Regn No. INP000002387 NSE: INB 230781431, F&O: INF 230781431, DP: IN-DP-CDSL-73-2000, IN-DP-NSDL-140-2000 MCX/TCM/CORP/0740 NCDEX/TCM/CORP/0293
Morning Note
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NAME
Varun Gupta Pashupati Nath Jha Vikram Singh
DESIGNATION
Head - Research Research Analyst Research Analyst
E-MAIL
varungupta@moneysukh.com pashupatinathjha@moneysukh.com vikram_research@moneysukh.com
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SEBI RegnBSE: No.INB BSE: INB010985834 / NSE: INB230781431 SEBI Reg.No: 010985834, F&O: INF 010985834
PMS Regn No. INP000002387 NSE: INB 230781431, F&O: INF 230781431, DP: IN-DP-CDSL-73-2000, IN-DP-NSDL-140-2000 MCX/TCM/CORP/0740 NCDEX/TCM/CORP/0293