Mid Day Market Commentary

Market was trading in negative territory on back of selective profit booking in index pivotals. Overall market breadth was positive as 1581 stocks advanced and 815 stocks declined on BSE index. BSE sectoral index were trading mixed. BSE bank index was climbing 9.34 points to trade at 7,152.78 as ICICI Bank was up by (0.32%) and SBI was up by (0.14%). The decline of oil prices had boosted the oil & gas index, which was up by 56.62 points to trade at 6294.88 as HPCL (4.37%), BPCL (3.11%), GAIL (1.04%) and Reliance (0.58%) advanced. BSE Health index rose 6.17 points to 3880.79 as Ranbaxy labs (0.61%), Dr. Reddys Labs (1.52%)and Glaxosmithkline (0.93%) were advancing. BSE IT index was down by 52.38 points to 5398.13 as TCS (1.57%), Infosys (1.08%), Sataym (1.66%) and Wipro (0.1.66%) were declining. BSE Metal index was the top loser with 114.00 points down to trade at 9009.59 as SAIL (1.79%), Tata Steel (0.94%) and Hindalco (3.18%) were slipping. BSE FMCG was down by 30.32 points to 1896.78 as ITC (3.16%) and HLL (0.21%) were slipping. BSE Mid caps and Small cap were trading in green. BSE mid cap was up by 22.63 points to trade at 5932.38 and BSE Small cap was up by 80.76 points to trade at 7161.22. At 12:55 pm, BSE sensex was at 13,920.18 down by 94.74 points and Nifty was at 3996.15 down by 27.90 points. Top gainers at BSE sensex: DR. Reddys Labs Rs 820.75 (1.52%), Reliance Energy Rs 530.85 (1.08%), L&T Rs 1492 (1.07%), Tata Motors Rs 945.15 (0.63%) and Ranbaxy labs Rs 414.75 (0.61%). Top losers: ITC Rs 169.75 (3.19%), Hindalco Rs 174.00 (3.15%), Hero Honda Rs 756.8 (2.74%), HDFC Bank Rs 1042.2 (2.21%) and HDFC Rs 1575.8 (1.91%).