Mid Day Market Commentary

After struggling in morning session, market made recovery to trade in positive terrain on back of selective buying interest seen in index pivotals in particulars Bank and Oil & gas stocks. Overall market breadth was positive as 1841 stocks advanced and 575 stocks declined on BSE index. BSE sectoral index were trading mixed. Today again, decline of oil prices had boosted the oil & gas index, which was up by 119.41 points to trade at 6376.50 as HPCL (3.74%), BPCL (3.05%), GAIL (3.26%) and Reliance (1.87%) advanced. Followed by BSE bank index that was climbing 111.57 points to trade at 7,206.44 as ICICI Bank (2.70%), HDFC Bank (1.14%), SBI (0.81%) and HDFC (0.87%) was advancing. BSE Health index was rising 7.13 points to 3883.21 as Ranbaxy labs (0.61%) and Glaxosmithkline (0.45%) were advancing. BSE IT index was up by 24.97 points to 5394.80 as TCS (0.39%), Infosys (0.55%), Sataym (1.12%) and Wipro (0.33%) were climbing. BSE auto index was losing 11.89 points trade at 5669.29 as Maruti Udyog (1.82%), Bajaj auto (0.65%) and Hero Honda (0.60%) were trading lower. BSE FMCG was down by 12.91 points to 1874.03 as ITC (1.78%) and Dabur (0.33%) were slipping. BSE Mid caps and Small cap were trading in green. BSE mid cap was up by 46.23 points to trade at 5988.22 and BSE Small cap was up by 99.58 points to trade at 7249.71. At 12:45 pm, BSE sensex was at 13,938.25 up by 66.54 points and Nifty was at 4004.90 up by 16.10 points. Top gainers at BSE sensex: ICICI Bank Rs 914.50 (2.70%), Reliance Rs 1304.30 (1.87%), ONGC Rs 885.9 (1.28%), Satyam Rs 507.5 (1.12%) and Grasim Rs 2825 (1.09%). Top losers: Reliance comm. Rs 454.15 (2.28%), Hindalco Rs 171.75 (1.80%), Maruti Udyog Rs 950.50 (1.77%), ITC Rs 165.95 (1.75%) and Gujarat Ambuja cem Rs 141.20 (1.05%).