Mid Day Market Commentary

Market was continuously slipping in negative territory on back selling activities seen across index pivotals. Overall market breadth was positive as 1316 stocks advanced and 1122 stocks declined on BSE index. BSE sectoral index were trading lower except BSE capital goods index. BSE capital goods index was up by 20.27 points to trade at 9413.13 as L&T (0.30%) and BHEL (1.35%) were in green while Siemens (3.18%) and ABB were down. In sectoral losers: BSE FMCG stock was down 5.31 points to trade at 1945.04 as HLL up by (0.11%) while ITC (0.26%) and Dabur was trading (2.22%) lower. BSE Oil & gas index was declining 53.02 points to trade at 6604.86 as Reliance (0.53%), HPCL (1.74%), BPCL (0.77%), ONGC (0.78%) and GAIL (1.48%) were down. BSE IT index was down by 15.75 points to trade at 5294.09 as Satyam (3.80%), Wipro (0.91%), and TCS (0.24%) were declining. Followed by BSE Health index that was trading at 3876.84 down by 8.48 points as Ranbaxy Labs (1.92%), Galxosmith1.0%) (0.06%) and Dr Reddy (0.23%) were trading in red. Besides, BSE bank index was 56.63 points down to trade at 7428.84 as HDFC Bank (1.64%), OBC (0.47%) and ICICI Bank (0.95%) were trading lower. Moreover, BSE Mid caps and Small cap were trading mixed. BSE mid cap was up by 10.76 points to trade at 6086.29 and BSE Small cap was down by 0.92 points to trade at 7559.28. At 12.45 pm, BSE sensex was at 14,150.85 down by 31.86 points and Nifty was at 4081.85 down by 8.29 points. Top gainers at BSE sensex: BHEL Rs2300.00 (1.35%), Infosys Rs2228.15 (1.12%), HDFC Rs1611.35 (0.70%), Cipla Rs254.25 (0.67%) and ACC Rs1113.00 (0.67%). Top losers: Satyam Rs469.35 (3.80%), Ranbaxy Labs Rs406.50 (1.92%), HDFC Bank Rs1048 (1.64%), Reliance Energy Rs508.20 (1.22%) and Bharti Airtel Rs674.50 (1.11%).