Mid Day Market Commentary

Market opened firm and was trading strong on account of buying interest seen in index pivotals. Overall market breadth was positive as 1397 stocks advanced and 1026 stocks declined on BSE index. BSE sectoral indices were trading green. BSE bank index outperformed the other indices and was up by 158.09 points to trade at 7109.24 as ICICI Bank (2.95%), HDFC Bank (2.63%), PNB (2.63%), OBC (1.88%) and HDFC (1.67%) were advancing. BSE Tech index was rising 48.52 points to 3650.06 as satyam computers (2.99%), infosys (1.15%) and HCL tech (0.67%) were up. BSE capital goods index was trading 32.04 points to 9066.10 as ABB (0.83%), Siemens (0.76%) and L&T (0.42%) were rising. BSE auto index was up by 67.27 points to trade at 5501.19 as Tata Motors (2.21%), Bajaj auto (0.93%) and M&M (0.70%) were trading up. BSE Health index was up by 42.52 points to trade at 3826.29 as Ranbaxy (2.38%), Dr. Reddys Labs (1.58%), GlaxoSmith (1.39%) and Cipla (1.13%) were up. BSE oil & gas index was up by 37.35 points to trade at 6230.82 as GAIL (3.69%), BPCL (2.23%), HPCL (2.02%) and IPCL (0.88%) were advancing. BSE mid cap and BSE small cap indices were trading in green. BSE Mid cap index was up by 55.52 points to trade at 5753.21 and BSE small cap index was up by 46.86 points to trade at 6852.42. At 12:45 pm, BSE sensex was at 13,880.10 up by 171.76 points and Nifty was at 3974.25 up by 33.75 points. Top gainers at BSE sensex: Satyam Rs 491.20 (3.07%), ICICI Bank Rs 898.30 (2.95%), HDFC Bank Rs 1058.00 (2.63%) and Ranbaxy labs Rs 401.50 (2.38%). Top losers: ONGC Rs 870.95 (1.93%), BHEL Rs 2322.00 (0.62%) and Wipro Rs 595.00 (0.39%).