Nifty tops 8K on jubilant Q1 GDP data

1. Nifty tops 8K on jubilant Q1 GDP data
Market Snapshot | 01-09-2014 04:20 PM
Buoyed by the exuberant Q1 GDP numbers, Indian indices made a rocking start with Nifty surpassing 8000 milestone
for the first time in history. Sentiments remained upbeat and pushed Sensex and Nifty higher to hit the record heights
at 26900 and 8035 overlooking the slowed pace of August manufacturing activity. Both barometer gauges added 0.9%
to end at record closing levels. On BSE sectorial front, Metal index shined the most.
On the global turf, US markets shrugged off the geopolitical worries on upbeat macro-economic numbers.
Additionally, Asian markets too traded in green zone whereas European indices were trading mixed.
Among major macro-economic events, highlighting the NaMo effect on Indian economy, Country’s economy has
taken a big U-turn by expanding at its fastest pace in more than two years. India’s GDP grew by 5.7% during the April-
June quarter of current fiscal as compared to 4.7% growth recorded in same quarter last year.
However, the manufacturing activity in August disappointed on falling from 17 month high levels in July. The HSBC
Manufacturing Purchasing Managers’ Index (PMI) slowed to 52.4 in the month of August from 53 in July. However, the
reading remained above 50 mark that indicates overall expansion.
On stock-specific front, automobile bellwether, Maruti Suzuki India flagged fresh record high at Rs 2931.1 before
ending 4.7% up on BSE after its total car sales jumped 27% in August 2014 at 110776 units as against 87323 units in
August 2013.
Ashok Leyland rallied 6% to hit 52 week high at Rs 39.3 on BSE after recording 17% rise in August sales at 8331
vehicles as against 7139 sold in same month year ago.
Natco Pharma spurted 5% to make 52 week high of Rs 1262.55 on BSE after US Food and Drug Administration
(USFDA) accepted the proposal of company’s marketing partner Mylan Inc. based in US for an Abbreviated New Drug
Application (ANDA) for a three-times-a-week generic COPAXONE.
The market breadth on the BSE closed in positive. Advancing and declining stocks were 2023 and 1051 respectively,
while 157 scrips remained unmoved.
The S&P BSE Sensex ended at 26867.55, up 229.44 points or 0.86%. The 30 share index touched a high and a low
of 26900.30 and 26732.39 respectively. 22 stocks advanced against 8 declining ones on the benchmark index.
The CNX Nifty gained 73.35 points or 0.92% to settle at 8027.70. The index touched high and low of 8035.00 and
7984.00 respectively. 42 stocks advanced against 8 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved up to 9444.59 and gained 1.57% while S&P BSE Small-cap index jumped up by
1.30% to 10397.59.
The broader S&P BSE 500 index increased to 10220.22 (up 1.23%) and CNX 500 index rose to 6438.45 (up 1.22%).
The volatility as denoted by INDIA VIX gained 3.52% at 13.53 from its previous close of 13.07 on Thursday.
Sectors in action
On the BSE Sectorial front, Metals (up 2.79%), Capital Goods (up 2.75%) and Real Estate (up 2.72%) were the top
gainers.
FMCG (down 0.67%) was the sole loser.
The Angels and the Devils
Hero MotoCorp Ltd (up 5.79%), Maruti Suzuki India Ltd (up 4.71%), Tata Power Company Ltd (up 3.62%), Hindalco
Industries Ltd (up 3.59%) and GAIL (India) Ltd (up 3.36%) were the top gainers on the Sensex.
Sun Pharmaceutical Industries Ltd (down 1.46%), ITC Ltd (down 1.37%), Housing Development Finance Corporation
Ltd (down 1.19%), Bharat Heavy Electricals Ltd (down 0.89%) and Tata Motors Ltd (down 0.87%) were the top losers
on the Sensex.

2. Benchmark Drivers
ICICI Bank (56.23 points), Larsen And Toubro Ltd (48.63 points), ITC Ltd (-31.06 points), Reliance Industries Ltd
(30.47 points) and Maruti Suzuki India Ltd (22.78 points) were the major Sensex drivers today.
On the other end ICICI Bank (13.91 points), Larsen And Toubro Ltd (12.31 points), Reliance Industries Ltd (7.94
points), ITC Ltd (-7.67 points) and Housing Development Finance Corporation Ltd (-6.82 points) were the major Nifty
movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 8016 for next session. The next support is at 7996 and on upside it has a resistance at
8047 levels.
CCNNXX NNiiffttyy
EEffff.. DDaattee SS 33 SS 22 SS 11 PPIIVVOOTT RR 11 RR 22 RR 33 AAccttuuaall CClloossee
02-Sep-2014 7945 7965 7996 8016 8047 8067 8098 -
01-Sep-2014 7911 7925 7940 7954 7968 7982 7997 8027.70
28-Aug-2014 7889 7903 7919 7933 7950 7963 7980 7954.35
S&P BSE Sensex has a pivot at 26833 with first level of support and resistance at 26767 and 26934 respectively.
SS&&PP BBSSEE SSeennsseexx
EEffff.. DDaattee SS 33 SS 22 SS 11 PPIIVVOOTT RR 11 RR 22 RR 33 AAccttuuaall CClloossee
02-Sep-2014 26599 26666 26767 26833 26934 27001 27102 -
01-Sep-2014 26482 26528 26583 26629 26684 26729 26784 26867.55
28-Aug-2014 26395 26444 26502 26551 26609 26657 26715 26638.11
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