Mid Day Market Commentary

After opening in positive note, market slipped into negative territory and was showing choppy trade on back of participants were adopting cautious approach. Overall market breadth was positive as 1520 stocks advanced and 992 stocks declined on BSE index. While Banking Health care, and metals were witnessing buying activities while oil & gas, auto and consumer durable were unfavorable.

At 12.50 pm, BSE sensex was at 14,552.40 up by 36.50 points while Nifty was at 4209.25 down by 6.10 points. BSE Mid cap was up by 55.63 points to trade at 6210.87 and BSE small cap was up by 52.54 points to trade at 7708.19.

BSE Banks index was advancing 110.76 points to trade at 7525.78 as ICICI Bank (2.58%), PNB (1.14%) SBI (0.81%) and OBC (0.64%) were trading in green.

BSE capital goods index was gaining 32.66 points to trade at 9953.63 as Suzlon energy (2.64%), ABB (0.70%), and siemens (0.26%) were trading in green.

BSE Health index was trading at 3895.87 up by 22.71 points as Ranbaxy Labs (1.52%), Glaxosmith Kline (0.45%) and Dr Reddys Labs (0.12%) were trading in green.

BSE IT index was up 29.17 points to trade at 5416.22 as Infosys (0.74%) HCL Tech (0.35%), Wipro and Satyam declined.

BSE metals index was adding 38.89 points at 9384.63 as Tata Steel (0.22%) and SAIL (0.86%) were up while Hindalco (0.95%) and NALCO (0.17%) were down.

BSE FMCG index was trading flat as ITC (1.32%) was down while Dabur (2.41%) and HLL (1.61%) were trading up.

BSE auto index was rising 12.70 points to trade at 5725.49 as Hero Honda (1.43%), M&M (0.18%) and Tata motors (0.21%) were trading in red.

In Telecom pack: Reliance comm (4.15%), VSNL (2.55%) and Bharti Airtel (0.20%) were trading lower.

BSE Oil & gas index was trading flat as HPCL (1.69%), BPCL (1.17%), Reliance (0.18%) and ONGC (0.29%) were trading in red