Mid Day Market Commentary

After opening on firm note on back of positive sentiment from strong quarterly results, it sharply slipped into negative territory as the participants were booking profit at some higher levels across the index pivotals. BSE FMCG stock was adding 18.94 points to trade at 1953.59 as ITC up by (1.66%), HLL up by (0.11%) while Dabur was trading (1.2%) lower. BSE Oil & gas index was up 15.11 points to trade at 6679.24 as Reliance (1.08%), HPCL (0.44%) and BPCL (0.01%) were trading higher while ONGC (1.18%) and GAIL (0.66%) were down. Among the BSE sectoral indices, BSE IT index was the top losers as it was down by 120.40 points to trade at 5288.07 as Satyam (5.6%), Wipro (3.44%), HCL Tech (1.44%), TCS (0.57%), and Infosys (1.33%) were declining. Followed by BSE capital goods index that was down by 155.45 points to trade at 9340.71 as Siemens (3.18%), L&T (2.10%), and BHEL (1.33%) were trading lower. BSE Health index that was trading at 3890.80 down by 44.30 points as Ranbaxy Labs (3.00%), Cipla (2.72%), Galxosmith1.0%) (0.27%) and Dr Reddy (0.71%) were trading in red. Besides, BSE bank index was 75.56 points up to trade at 7389.33 as SBI (1.11%), ICICI Bank (1.11%) and PNB (1.25%) were trading lower. BSE Metal index was down by 122.56 points to trade at 8946.97 as SAIL (1.97%), NALCO (1.15%) and Hindalco (0.60%) were trading down. BSE auto index was loosing 65.86 points to trade at 5627.19. Moreover, BSE Mid caps and Small cap were trading in negative territory. BSE mid cap was down by 27.70 points to trade at 6075.87 and BSE Small cap was down by 40.31 points to trade at 7558.14. At 12.35 pm, BSE sensex was at 14,138.78 down by 78.97 points and Nifty was at 4081.85 down by 27.19 points. Top gainers at BSE sensex: ITC Rs174.70 (1.60%), Gujarat Ambuja Cem Rs147.0 (1.20%), Reliance Rs1382.60 (1.14%), ACC Rs1104.65 (0.77%) and Bharti Airtel Rs676.90 (0.60%). Top losers: Satyam Rs487 (5.47%), Wipro Rs622.5 (2.88%), Ranbaxy Labs Rs418.00 (2.84%), Tata Steel Rs465.50 (2.11%) and Reliance energy Rs518.00 (1.92%).