WEEKLY NEWS

Infosys Q4 disappoints; downgrades loom on

weak guidance

Infosys shares plunged 21 percent to Friday close at a

near-four month low of Rs 2295.45, after its fourth

quarter numbers and FY14 guidance were way below

market expectations. This is the biggest single day fall

since April 10, 2003, when the stock tanked 26 percent

after missing its guidance.The IT major's fourth quarter

net profit rose slightly higher-than-expected 3 percent

year-on-year (1 percent quarter-on-quarter) to Rs 2,394

crore, helped by higher other income and lower income

tax expenses.

FinMin pitches for ratings upgrade for economy

with Fitch

The Finance Ministry today made a strong case for

rating upgrade of Indian economy by global agency

Fitch on the back of increasing investments, declining

import of gold and government's commitment to fiscal

prudence.The issue of rating upgrade was raised by

Finance Ministry officials at a meeting with the

representatives of Fitch here. The meeting was

attended by Department of Economic Affairs Secretary

Arvind Mayaram, among others

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WEEKLY EQUITY NEWSLETTER

15TH APRIL 2013

MARKET UPDATE:-

Nifty down by 25 pts and

settle at 5528.55

Bank Nifty up by 400 pts at 11410.10

NIFTY WEEKLY PIVOTS

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MARKET ANALYSIS UNCERTAIN POLITICAL SITUATION IN INDIA AND SOME POOR MACRO NUMBERS IN THE RECENT PAST HAS

CAUSED THE INDIAN MARKETS TO UNDERPERFORM THE GLOBAL PEERS SINCE THE BEGINNING OF THE

CURRENT MONTH. RATHER THE FOREIGN INSTITUTIONAL INVESTORS (FII) WHICH TILL THE END OF THE

PREVIOUS MONTH WERE MOPPING UP INDIAN EQUITIES TURNED NET SELLERS IN THE EQUITY SEGMENT. ON THE CONTRARY MOST OF THE GLOBAL MARKETS DURING THIS PERIOD RALLIED CONSIDERABLY. SO IT

APPEARS PERHAPS THAT THE INDIAN MARKET IS THE VICTIM OF PORTFOLIO REALIGNMENT BY THE GLOBAL

FUNDS IN FAVOR OF SAFER DEVELOPED ECONOMIES. ON THE OTHER HAND SOME OF THE MACRO

PARAMETERS HAVE BEEN DISAPPOINTING FOR SOME TIME AND PERHAPS THE INDIAN MARKET IS FINALLY

CATCHING UP TO MACRO REALITIES. ALL IN ALL THE MOOD APPEARS ABSOLUTELY BEARISH IN THE INDIAN

MARKETS AND THE DISAPPOINTING PROFITABILITY GUIDANCE GIVEN BY IT HEAVY WEIGHT INFOSYS FOR

FY14 AFTER DECLARING ITS Q4FY13 EARNINGS HAS ONLY ADDED FUEL TO THE FIRE. THE BENCHMARK

NIFTY TODAY FELL 65.45 POINTS TO CLOSE AT 5528.55 (MAINLY CONTRIBUTED BY INFOSYS BUTCHERING

WHICH FELL MORE THAN 21%). OVERALL FOR THE WEEK THE NIFTY FELL 24.70 POINTS. THE NIFTY FUTURE PREMIUM OF THE APRIL SERIES NARROWED DOWN TO JUST 6.65 POINTS (5535.20) AS

COMPARED TO 16.05 POINTS ON MONDAY, PERHAPS AN INDICATION OF FRESH SHORTS BEING CREATED IN

THE NIFTY FUTURE SEGMENT. NOT JUST THE INDEX FUTURES, BUT SOME OF THE MAJOR STOCK FUTURES

SEGMENTS ALSO WITNESSED ADDITION OF OPEN INTEREST (OI) ON THE SHORT SIDE.

.

EXPERT OPINION

NIFTY BANK NIFTY

Nifty looks Bearish Bank Nifty looks Bearish

Strategy: Sell on rise Strategy: Sell on rise

Support:5450 Support: 11300

Resistance: 5600 Resistance: 11500

NIFTY WEEKLY PIVOTS

PIVOTS R4 R3 R2 R1 PP S1 S2 S3 S4

NIFTY 5937 5804 5671 5599 5538 5466 5406 5272 5139

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NIFTY WEEKLY CHART

WEEKLY BANK NIFTY CHART

.

GAINERS AND LOOSERS

WEEKLY NIFTY GAINERS

SCRIPS RATE VOL. (000) PR.

CLOSE

NET

CHANGE

% CHANGE

JP Associate 70.80 17933.75 64.10 6.70 10.45

Tata Motors

275.15 8703.29 255.20 19.95 7.82

Ambuja Cement

175.95 2616.38 164.75 11.20 6.80

Lupin 659.80 409.35 618.20 41.60 6.73

DLF 247.40 10156.85 232.80 14.60 6.27

WEEKLY NIFTY LOOSERS

SCRIPS RATE VOL.

(000)

PR. CLOSE NET

CHANGE

% CHANGE

Infosys 2296.65 546.62 2865.85 -569.2 -19.86

Tata Steel 299.5 3985.83 309.2 -9.7 -3.14

Coal India 299.9 2585.16 309.25 -9.35 -3.02

Jindal Steel 327.85 1631.55 335.55 -7.7 -2.29

Asian Paints 4662 73.49 4767.55 -105.55 -2.21

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