Mid Day Market Commentary

Market was continuously trading below the flat line on account of lack of fresh buying in index pivotals. Overall market breadth was marginally negative as 1170 stocks advanced and 1289 stocks declined on BSE index. BSE sectoral index were trading mixed. Today BSE index gainers: BSE auto index that was adding 6.98 points trade at 5492 as Maruti Udyog (0.66%), Tata Motors (0.27%) Hero Honda (0.53%)and Bajaj auto (0.23%) were trading in green. BSE loser includes, BSE Metal index was down 21.09 points to trade at 8754. BSE Oil & gas index was loosing 44.47 points to trade at 6304 as GAIL (0.11%), ONGC (3.28%), BPCL (0.94%) and HPCL (0.59%) were trading lower. Further, BSE bank index that was declining 83.42 points to trade at 6933 as OBC (2.31%), HDFC (2.04%), SBI (1.40%) and ICICI Bank (1.64%) was trading lower. BSE Health index was down 23.92 points to 3767 as Dr Reddy Labs (1.65%), Glaxo SmithKline (1.37%)and Ranbaxy labs (0.31%) were trading lower. BSE IT index was down by 30.41 points to 5130 as TCS (1.63%), HCL Tech (0.96%), Satyam (0.52%) and Infosys (0.94%) were declining. BSE Mid caps and Small cap were trading mixed. BSE mid cap was down by 12.05 points to trade at 5870.26 and BSE Small cap was up by 7.65 points to trade at 7220. At 12:55 pm, BSE sensex was at 13,449 down by 117.54 points and Nifty was at 3867.85 down by 43.55points. Top gainers at BSE sensex: Maruti Udyog Rs 891.95 (0.66%), Hindalco Rs 166.20 (0.57%), Hero Honda Rs 734.05 (0.53%), Tata Motors Rs 913.05 (0.27%) and ACC Rs 1026 (0.24%). Top losers: ONGC Rs 888.15 (3.28%), Dr Reddys Rs 784 (1.85%), ICICI Bank Rs 897.6 (1.64%), BHEL Rs 2212 (1.63%) and TCS Rs 1235 (1.63%).