Mid Day Market Commentary

Market opened firm on back of yesterday momentum but slipped into negative territory on back of selective profit booking in index heavyweight. Overall market breadth was significantly negative as 867 stocks advanced and 1613 stocks declined on BSE index. Metal, Auto and capital goods stocks were witnessing selling activities while Banking was in favor.

At 12.50 pm, BSE sensex was at 14,534.26 down by 108.87 points and Nifty was at 4197.35 down by 26.89 points. BSE Mid cap was down by 36.26 points to trade at 6150.60 and BSE small cap was down by 71.67 points to trade at 7626.14.

BSE Banks index was edging up 32.94 points at 7559.99 as ICICI Bank (0.60%), SBI (0.51%) and HDFC Bank (0.17%) were trading in green.

BSE metals index was top loser with giving up 147.74 points at 9278.59 as SAIL (1.93%), Hindalco (2.94%) and Tata steel (0.98%) were down.

BSE capital goods index was down 82.09 points at 9973.15 as ABB (1.57%) and BHEL (0.86%) were trading up while siemens (0.91%) and L&T (2.14%) were trading down.

BSE auto index plunged 33.86 points to trade at 5775.49 as Bajaj auto (2.53%), Hero Honda (1.65%) and M&M (1.65%) were trading lower.

BSE IT index was tumbled 51.43 points to trade at 5472.79 as Satyam (1.91%), Infosys (0.77%) HCL Tech (0.84%), and Wipro (1.14%) trading in red.

BSE FMCG index was slipping 17.93 points at 1896.31 as ITC (1.39%), Dabur (1.22%) and HLL (1.13%) were trading down.

In Telecom pack: Reliance comm (1.83%), VSNL (2.18%) and Bharti Airtel (1.48%) were trading down.

BSE Oil & gas index was trading 30.31 points down at 6656.99 as GAIL (1.92%), IPCL (1.68%), and Reliance (0.64%) were down.