absence of domestic positive triggers, global anxiety drags indian markets down - jainam research

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Daily Post Market Review

Report Details –

1. Closing Commentary

2. News Round ups – Domestic

3. Asian Indices

4. Top 5 Gainers

5. Top 5 Losers

Equity Report

16th Sep, 2014

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Post session - Quick Review

Local equity markets extended previous session’s losses and ended down with sharp cut of over 1.20%

on Tuesday, which dragged both Sensex and Nifty below the psychologically crucial 27,000 and 8,000

levels respectively. Absence of any positive triggers at home front combined with global anxiety as

investors braced for a possible hawkish shift in the U.S. Federal Reserve's policy stance in its two-day

policy meeting, which begins later in the day, mainly took a toll on buying activity. Though, markets

started on subdued note, the selling pressure which accentuated during the second half of trading

session, i.e. post the start of European markets, mainly pushed markets near day’s low point.

Meanwhile, broader indices diving deeper into the gut, nursed heavier losses of around three percent

by close of trade.

Amidst the sea of red, none of the sectoral indices on BSE managed to stage resilience, rather the top

losers from the session were the stocks from Realty, Power and Public Sector undertaking (PSU)

counters. Additionally, PSU oil marketing companies also took a hit after reports suggested that India

would decide on ending government control on diesel pricing after elections in two states next month

even though local prices of the fuel were higher than the global rates, making a case for a cut in retail

prices. Besides, Capital Goods stocks also failed to draw any solace from the reports which suggested

of the government approving an Rs 930 crore scheme to enhance the competitiveness of the capital

goods sector in order to boost the economy. Moreover, telecom stocks were in limelight after

Department of Telecom (DoT) has filed a petition in the Supreme Court (SC) against telecom tribunal’s

verdict that allowed Airtel, Idea and Vodafone to offer 3G services under a roaming arrangement in

areas where not all of them own 3G spectrum. The market breadth on the BSE remained in the favour

of decliners; advancing and declining stocks were in a ratio of 801:2229, while 88 scrips remained

unchanged. (Provisional)

The broader indices ended in red; the BSE Mid cap index was down by 3.42%, while Small cap index

down by 3.99%. (Provisional)

The losing sectoral indices on the BSE were Realty down by 3.42%, Power down by 3.26%, PSU down

by 3.12%, Infrastructure down by 3.05%, Capital Goods down by 2.70%, while there were no gainers

on the index. (Provisional)

India VIX, a gauge for markets short term expectation of volatility rose 0.20% at 13.28 from its

previous close of 13.18 on Monday. (Provisional)

The CNX Nifty edged lower by 109.10 points or 1.36% at 7932.90 after trading in a range of 7925.15

and 8044.90. There were 8 stocks advancing against 42 stocks declining on the index. (Provisional)



International Market:

Asian Indices Last Trade Change in Points Change in %

Shanghai Composite 2296.56 -42.59 -1.82

Hang Seng 24136.01 -220.98 -0.91

Jakarta Composite 5130.50 -14.39 -0.28

KLSE Composite - - -

Nikkei 225 15911.53 -36.76 -0.23

Straits Times 3272.62 -39.85 -1.20

KOSPI Composite 2042.92 7.10 0.35

Taiwan Weighted 9133.40 -84.06 -0.91

Sensex Top 5 Gainers:

Company Current Price Previous Close % Change Volume

DR. REDDY 3,010.80 2,961.05 1.68 17,501

HEROMOTO 2,794.00 2,756.90 1.35 29,448

CIPLA LTD. 619.65 612.55 1.16 394,900

H U L 758.35 757.00 0.18 36,323

Sensex Top 5 Losers:

Company Current Price Previous Close % Change Volume

TATA POWER 83.70 89.40 -6.38 911,246

TATA STL 490.05 517.05 -5.22 1,276,889

HINDALCO 160.30 168.60 -4.92 593,248

ONGC LTD 408.75 429.15 -4.75 510,701

COAL INDIA 344.20 360.65 -4.56 272,804

* Data are subject to change as per Market.



Research Team

Reports Published By Research Department:

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We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its accuracy or completeness cannot be guaranteed. Neither Jainam Share Consultant Pvt. Ltd., nor any person connected with it nor any author of the reports accepts any liability arising from the use of this document. The recipients of this material should rely on their own investigations and take their own professional advice. Price and value of the investments referred to in this material may go up or down. Reports based on technical analysis centers on studying charts of a stock’s price movement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may not match with a report on a company’s fundamentals. No part of this material may be duplicated in any form and/or redistributed without Jainam Share Consultants Pvt. Ltd.’ prior written consent. Abbreviation: Sup= support, Res= resistance, DMA= daily moving average, OI= open interest. Some figures are squared up to the nearest.

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absence of domestic positive triggers, global anxiety drags indian markets down - jainam research

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