Nifty tops 7900 at close to mark fresh record highMarket Snapshot | 22-08-2014 04:20 PM

After murky trades in past two sessions, bulls fastened their pace again for record ride on DStreet. Following a jubilantstart amidst positive global cues, Indian indices remained in green zone with Nifty marking fresh lifetime high of 7929 inearly deals. Sentiments were boosted by RBI’s report that highlighted ‘Ache Din’ of Indian economy. Benchmarkssettled 0.25% up with Nifty ending at record closing high above the crucial 7900 mark first time. On BSE sectorial front,IT topped the charts.

Among the global counterparts, US markets spurted lifting S&P 500 to a new record closing high on upbeateconomic data. Additionally, Asian markets too trade in positive terrain whereas European markets were dipped in redzone.

Back home, Rupee stretched the winning streak amidst Dollar weakness in overseas markets coupled with RBI’senthusiastic report.

On macro-economic turf, the Foreign Direct Investment (FDI) digits have shown a good growth of 34% in the monthof June at $1.92 billion as compared to $1.44 billion in the same month of previous year. During the first quarter ofApril-June FY15, FDI jumped by 34% to $7.23 billion from $5.39 billion recorded in the corresponding period of theprevious fiscal.

Amidst the announcements of cheerful digits, Reserve Bank of India has released its annual report for 2013-14 (yearended June 30). In its report, the apex bank underscored that Indian economy is likely to grow at 5.5% in the currentfiscal. The report highlighted that the manufacturing activity is showing signs of improvement amidst improved externaldemand and stabilizing global commodity.

On stock specific front, Sugar stocks soared up to 5.3% after Government hiked the import duty on sugar to 25%from 15%. Consequently, the lower sugar imports will benefit the local players. However, the hike in import duty will notimpact much on the prices of Sugar for consumers.

Hotel Leelventure Ltd rallied 5% on BSE the company clarified for the news item titled "UK's Carnival Group offersRs.850 crore to buy Leela Chennai" that it is looking for options from potential investors.

T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1552 and 1598respectively, while 136 scrips remained unmoved.

The S&P BSE Sensex ended at 26419.55, up 59.44 points or 0.23%. The 30 share index touched a high and a low of26508.27 and 26383.16 respectively. 17 stocks advanced against 13 declining ones on the benchmark index.

The CNX Nifty gained 22.10 points or 0.28% to settle at 7913.20. The index touched high and low of 7929.05 and7900.05 respectively. 28 stocks advanced against 21 declining ones on the index.

S&P BSE Sensex CNX Nifty

The S&P BSE Mid-cap index moved up to 9340.87 and gained 0.22% while S&P BSE Small-cap index jumped up by0.00% to 10298.52.

The broader S&P BSE 500 index increased to 10081.59 (up 0.22%) and CNX 500 index rose to 6352.35 (up 0.21%).

The volatility as denoted by INDIA VIX lost 0.80% at 13.62 from its previous close of 13.73 on Thursday.

Sectors in actionOn the BSE Sectorial front, Information Technology (up 1.63%), Banks (up 1.03%) and Capital Goods (up 0.16%)were the top gainers.

Real Estate (down 0.82%), FMCG (down 0.51%) and Power (down 0.35%) were the top losers.

The Angels and the DevilsHindalco Industries Ltd (up 2.36%), State Bank of India (up 2.26%), HDFC Bank (up 1.80%), Infosys Ltd (up 1.65%)and Tata Consultancy Services Ltd (up 1.22%) were the top gainers on the Sensex.

Coal India Ltd (down 2.04%), Housing Development Finance Corporation Ltd (down 1.91%), Bharti Airtel Ltd (down1.59%), Hero MotoCorp Ltd (down 1.04%) and Hindustan Unilever Ltd (down 0.82%) were the top losers on theSensex.

Benchmark DriversHousing Development Finance Corporation Ltd (-34.75 points), HDFC Bank (33.12 points), Infosys Ltd (32.72 points),State Bank of India (21.56 points) and Tata Consultancy Services Ltd (20.07 points) were the major Sensex driverstoday.

On the other end Housing Development Finance Corporation Ltd (-8.55 points), HDFC Bank (7.96 points), Infosys Ltd(7.37 points), State Bank of India (5.57 points) and Tata Consultancy Services Ltd (5.41 points) were the major Niftymovers today.

Pivot, Supports and Resistance LevelsCNX Nifty is now pivoted at 7914 for next session. The next support is at 7899 and on upside it has a resistance at7928 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

25-Aug-2014 7870 7885 7899 7914 7928 7943 7957 -

22-Aug-2014 7794 7825 7858 7889 7922 7953 7986 7913.20

21-Aug-2014 7793 7829 7852 7887 7911 7946 7969 7891.10

S&P BSE Sensex has a pivot at 26437 with first level of support and resistance at 26366 and 26491 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

25-Aug-2014 26241 26312 26366 26437 26491 26562 26616 -

22-Aug-2014 26058 26160 26260 26362 26462 26565 26665 26419.55

21-Aug-2014 26000 26139 26226 26365 26453 26592 26680 26360.11

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