Mid Day Market Commentary

Market was trading in negative terrain on back of selling activities seen across index pivotals Overall market breadth was negative as 1009 stocks advanced and 1403 stocks declined on BSE index. BSE sectoral index were trading lower except BSE oil & gas index. BSE Oil & gas index was trading in green with 5.35 points up to trade at 6629.60 as Reliance (0.03%), GAIL (0.89%) and ONGC (0.37%) were trading up while HPCL (0.93%) and BPCL (1.95%) were trading down. BSE bank index was the top loser with 94.63 points down to trade at 7382.06 as SBI (2.46%), PNB (2.07%), HDFC Bank (1.44%), and ICICI Bank (0.87%) were trading lower. BSE FMCG stock was down 18.97 points to trade at 1957.09 as HLL (1.38%), ITC (0.64%) and Dabur (0.34%) were trading lower. BSE IT index was down by 28.46 points to trade at 5321.96 as Infosys (0.84%), Satyam (0.24%), and TCS (0.42%) were declining. BSE Health index was trading at 3877.02, down by 21.47 points as Galxosmith (0.37%) and Dr Reddy (3.83%) were trading in red. BSE capital goods index was down 28.05 points to trade at 9373.45 as L&T (0.69%) was trading lower while BHEL (0.50%) and ABB (0.49%) were trading in green. Moreover, BSE Mid caps and Small cap were trading flat. BSE mid cap was down by 15.41 points to trade at 6068.75 and BSE Small cap was down by 3.23 points to trade at 7561.86. At 12.40 pm, BSE sensex was at 14,121.23 down by 88.01 points and Nifty was at 4089.20 down by 13.25 points. Top gainers at BSE sensex: Bharti Airtel Rs691.70 (2.27%), Ranbaxy Rs408.95 (0.35%), Reliance comm. Rs451.75 (0.96%), BHEL Rs2326.90 (0.31%) and Cipla Rs254.70 (0.18%). Top losers: ACC Rs1060 (5.00%), Dr Reddy’s Labs Rs780.00 (3.69%), Grasim Rs2814 (2.79%), Gujarat Ambuja Rs142.80 (2.69%) and SBI Rs1193.90 (2.48%).