Mid Day Market Commentary

Market was slipping into negative territory on back of selling activities seen in index heavyweight. Overall market breadth was significantly negative as 652 stocks advanced and 1805 stocks declined on BSE index. Metal, IT, Health cares and capital goods were out of favor while selective buying was seen in auto.At 12.40 pm, BSE sensex was at 14,532.93 down by 119.16 points and Nifty was at 4182.50 down by 40.89 points. BSE Mid cap was down by 99.26 points to trade at 6074.29 and BSE small cap was down by 127.15 points to trade at 7523.92.BSE auto index was trading flat as Bajaj auto (2.67%) and Tata motors (1.25%) were trading in green while Maruti Udyog and Hero Honda slipping.BSE Banks index tumbled 74.62 points to trade at 7520.21 as ICICI Bank (0.97%), SBI (1.23%) and HDFC Bank (0.70%) were trading in red. BSE metals index was tripping 153.48 points at 9121.62 as SAIL (0.78%) and Tata steel (1.70%) was down while Hindalco (0.11%) up.BSE capital goods index was down 103.90 points at 9972.54 as ABB (0.69%), BHEL (0.26%), siemens (1.41%) and L&T (0.97%) were trading down.BSE IT index was falling 60.27 points to trade at 5460.64 as Satyam (3.20%), Infosys (1.22%) and HCL Tech (0.48%) were trading in red.BSE FMCG index was down 10.04 points at 1901.19 as Dabur (0.91%) and HLL (0.903%) were trading down. In Telecom pack: Reliance comm (2.26%), MTNL (3.14%), VSNL (2.97%) and Bharti Airtel (1.10%) were trading down.BSE Oil & gas index was trading 49.23 points down at 6638.77 as GAIL (0.93%), IPCL (1.14%), and Reliance (0.15%) were down.