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WealthRays Research Desk

Evening Market Report 22
nd
October, 2014

Indian Markets
Indian equity markets tracked positive momentum from global markets and strong domestic reforms. Nifty
opened higher by 70.05 points and continued to march towards 8000 levels in last hour of the trade. ECB stimulus
hopes lifted sentiment on European markets and tech stocks in US rallied after Apple quarterly result. Also, on
domestic front hopes of GST bill to be moved in parliament in winter session lifted investor sentiment on D-
Street. Nifty was lifted by pharma and auto stocks with banking stocks also supporting the index. The overall
breadth was positive on the index with advance decline ratio on Nifty at 39:11. Mid cap and small cap indices
outperformed large cap by rising close to 1%. Nifty closed just below 8000 at 7995.90.

USDINR pair opened flat today at 61.31 and traded with a negative bias. Rupee eased as equity markets gained
strength and FII flows became positive in capital markets. Most Asian currencies traded mixed with positive bias
against USD. Fed decision on 29
th
October remained in focus. Rupee traded in a very narrow range of 10 paisa
during the session. The sight strength in Rupee could be attributed to positive sentiment after BJP victory in state
assembly elections. USD index was trading 0.25% suggesting strength in greenback against major world
currencies.



Other Asian Markets
Asian markets rallied today tracking positive momentum from Wall Street and European markets amid hopes of
ECB stimulus to boost economy. Nikkei rallied 2.64% today as Yen remained flat against USD. Exports hit seven
month high in Japan. SSE closed down by 0.56% ahead of HSBC manufacturing PMI flash report for September.

Sectors Snapshot

Bank Nifty: Bank Nifty opened higher but gave up gains and
closed with marginal gains of 17.45 points. Banks took
breather and cautious was seen ahead of US Fed decision
and earnings. Most stocks closed flat with exception of
Kotak Mahindra Bank (+4.86%) after strong Q2 results.
CNX Energy: Energy index also opened higher but gave up
gains to close 0.40% up.OMC stocks took breather while
ONGC (-2.1%) dragged the index. Cairn India (+3.75%) was
top gainer on the index.
CNX Pharma: Pharma index extended gains from previous
session and closed higher by 1.63%. Majors such as Sun
Pharma (+1.12%), Cipla (+3.3%) and Dr. Reddys (+2.48%)
lifted the index.
CNX Media: Media index also rallied today closing 1.23%
higher. Den networks rallied 7.23% today. Overall breadth
was positive eon the index. Zee Entertainment gained
1.13% lifting the index.
India VIX: India VIX lost 2.25% as markets rallied.
Index Close Open Previous Close Change (%)
S&P BSE SENSEX 26787.23 26782.57 26575.65 +0.80
CNX NIFTY 7995.90 7997.80 7927.75 +0.86
Index Close Open Previous Close Change (%)
Hang Seng Index 23403.97 23300.45 23088.58 1.37
NIKKEI 225 Day 15195.77 15038.19 14804.28 2.64
KOSPI Composite 1936.97 1936.91 1915.28 1.13
SSE Composite 2326.553 2339.223 2339.657 -0.56
Name Close Open Change (%)
BANK NIFTY
16444.7 16570.4 0.11
CNX AUTO
7991.1 7844.95 2.91
CNX ENERGY
9351.15 9371.45 0.4
CNX FINANCE
6602.65 6637.4 0.29
CNX FMCG
19120.9 19184.7 0.03
CNX INFRA
3154.1 3146.1 1.19
CNX IT
10767.4 10835.4 0.7
CNX MEDIA
2119.8 2102 1.23
CNX METALS
2824.25 2834.65 0.67
CNX PHARMA
10452.45 10361.75 1.63
CNX REALTY
192.5 193.2 0.71
INDIA VIX
13.03 13.33 -2.25





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WealthRays Research Desk

Evening Market Report 22
nd
October, 2014

Market Movers
Gainers
JSPL: The shares of the company were seen up in
today's session also after their CEO confidently
announced that they would take part in the coal block
allocation. Buying at lower levels was seen. The stock
was the top performer among the Nifty constituents.
The shares were up by 10.11% to close at 106.15.





Losers
ONGC: Shares price of the company is falling consecutively
from past three sessions though Nifty is seen going up on
report that government is going to sell 5% stakes of the
company. The shares have seen taking a beating from 429
levels to 399.45 level. It was down by 2.10% in today's
session.

.
Commodity Outlook:
Commodity Market showed little volatility in the morning session. Gold and Silver Prices looked weak in the
morning session due to profit taking and strength of Equity Markets. Crude Oil bounced back from lower levels
due to bargain hunting and Natural Gas Prices also looked strong in the morning session. Base Metals stayed
strong in the morning session as Chinese GDP numbers continued to have a positive effect on them.
Outlook for Evening session: Gold and Silver Prices are expected to be range bound in the Evening session; Crude
Oil and Natural Gas are expected to make gains while Base Metals are also expected to stay strong in the Evening
session

Stock Recommendations:

TATA Steel Sell at `457.15(CMP); Target -`452.00; Stop Loss `462.00

Punjab Nationa Bank Sell at `932.85.00(CMP); Target -`922.00; Stop Loss `942.00

HDFC Buy at `1030.75(CMP); Target -`1042.00; Stop Loss `1020.00

Yesterdays Recommendations Results:





Top Gainers
Stock Open Close
Change
(%)
JSPL 148.5 160.15 10.11
KOTAK BANK 1021.3 1063 4.86
HERO MOTOCORP
LTD
3026 3115.5 3.99
CAIRN INDIA 276 288.85 3.75
TATA MOTORS 508.65 519.15 3.53
Top Losers
Stock Open Close
Change
(%)
ONGC 411.45 399.45 -2.1
NMDC 163.9 161 -1.17
DLF 122.85 120.15 -1.03
ICICI BANK 1592 1571 -0.7
NTPC 148.1 146.55 -0.68
Piramal Enterprises
Recommended SELL Price: 689.60
TARGET: 682.00
Todays Low: 675.00
Todays Closing: 684.55

JSW Steel
Recommended BUY Price: 1176.00
TARGET: 1190.00
Todays High: 1209.80
Todays Closing: 1200.90
\

Biocon
Recommended BUY Price: 480.10
TARGET: 485.00
Todays High: 478.85
Todays Closing: 476.45






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WealthRays Research Desk

Evening Market Report 22
nd
October, 2014


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WealthRays Securities Pvt Ltd

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