Sensex slumps 1.1% shrugging off growth in service sectorMarket Snapshot | 07-10-2014 04:20 PM

After a long weekend, Indian indices made a negative start on the back of feeble global cues. Markets magnifiedlosses shrugging off the growth in service sector in September. Both barometer gauges tanked over 1% to settle atintraday low levels dragged by Metal index.

The S&P BSE Sensex ended at 26271.97, down 296.02 points or 1.11%. The 30 share index touched a high and alow of 26570.38 and 26250.24 respectively. 7 stocks advanced against 23 declining ones on the benchmark index.

The CNX Nifty lost 93.15 points or 1.17% to settle at 7852.40. The index touched high and low of 7943.05 and7842.70 respectively. 9 stocks advanced against 41 declining ones on the index.

T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1194 and 1838respectively, while 133 scrips remained unmoved.

S&P BSE Sensex CNX Nifty

The S&P BSE Mid-cap index moved down to 9425.39 and lost 0.90% while S&P BSE Small-cap index hammereddown by 0.79% to 10557.96.

The broader S&P BSE 500 index decreased to 10033.41 (down 1.11%) and CNX 500 index declined to 6324.85 (down1.14%).

The volatility as denoted by INDIA VIX gained 11.23% at 14.46 from its previous close of 13.00 on Wednesday.

On global turf, US markets ended down on profit booking activities ahead of corporate earnings season. Europeanindices also traded in deep red whereas Asian indices were exhibiting mixed trades.

Among macro-economic developments, recovering from 2-month slowdown, service sector activity rose inSeptember amidst faster filing up of order books. Indicating a fifth consecutive monthly expansion, the HSBC servicesPurchasing Managers’ Index (PMI) rose from 50.6 in August to 51.6 in the month of September.

Sectors in actionMetals (down 2.65%), Healthcare (down 1.85%) and Capital Goods (down 1.78%) were the top losers.

There were no gainers on BSE sectorial front.

On stock-specific front, Tyre stocks spurted up to 5.9% on BSE as prices of natural rubber which is the mostimportant raw material for the industry, have dropped to multi-year low in the international market amidst poor demandfrom countries like China and oversupply of the commodity.

Ramco Systems rallied 5% on BSE as its global Aviation software provider on Cloud, Mobile and Tablets, hassuccessfully gone-live at Aviation Partnership Philippines (APlus).

Apollo Tyres spiked 5.9% on BSE after Reserve Bank of India (RBI) increased foreign institutional investors (FIIs)investment limit to 45% of its paid-up capital.

Tata Sponge Iron tumbled 5% on BSE after Supreme Court of India de-allocated the coal block located at Radhikapur.

Polaris Financial Technology slumped 5.9% on BSE after being replaced from S&P BSE 500 index with NationalBuildings Construction Corporation.

The Angels and the DevilsNTPC Ltd (up 1.19%), GAIL (India) Ltd (up 1.09%), Tata Motors Ltd (up 0.43%), Wipro Ltd (up 0.37%) and Tata PowerCompany Ltd (up 0.25%) were the top gainers on the Sensex.

Hindalco Industries Ltd (down 4.35%), Sesa Sterlite Ltd (down 4.32%), Cipla Ltd (down 3.67%), Dr. ReddysLaboratories Ltd (down 3.18%) and Housing Development Finance Corporation Ltd (down 3.11%) were the top loserson the Sensex.

Benchmark DriversHousing Development Finance Corporation Ltd (-55.89 points), Larsen And Toubro Ltd (-29.67 points), TataConsultancy Services Ltd (-28.72 points), Sun Pharmaceutical Industries Ltd (-22.48 points) and State Bank of India (-20.55 points) were the major Sensex drivers today.

On the other end Housing Development Finance Corporation Ltd (-14.05 points), Larsen And Toubro Ltd (-7.76points), Tata Consultancy Services Ltd (-7.54 points), Sun Pharmaceutical Industries Ltd (-5.97 points) and State Bankof India (-5.55 points) were the major Nifty movers today.

Pivot, Supports and Resistance LevelsCNX Nifty is now pivoted at 7879 for next session. The next support is at 7816 and on upside it has a resistance at7916 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

08-Oct-2014 7715 7779 7816 7879 7916 7980 8016 -

07-Oct-2014 7888 7912 7929 7953 7970 7994 8011 7852.40

01-Oct-2014 7808 7866 7915 7973 8023 8080 8130 7945.55

S&P BSE Sensex has a pivot at 26364 with first level of support and resistance at 26158 and 26478 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

08-Oct-2014 25838 26044 26158 26364 26478 26684 26798 -

07-Oct-2014 26381 26464 26516 26600 26652 26735 26787 26271.97

01-Oct-2014 26087 26284 26457 26654 26827 27024 27197 26567.99

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