Mid Day Market Commentary

Market was trying to recover morning losses but still trading in negative territory on back of heavy selling pressure across the index pivotals in particulars Bank, auto and capital goods stocks. Overall market breadth was significantly negative as 644 stocks advanced and 1696 stocks declined on BSE index.

At 12.45 pm, BSE sensex was at 13,947.15 down by 143.83 points and Nifty was at 4021 down by 23.55 points. BSE Mid cap was down by 61.51 points to trade at 5723.77 and BSE small cap was down by 84.45 points to trade at 7003.70.

BSE Banks index was the top losers on back of increased in CRR ratio by RBI and was plunged by 375.18 points or 5.16% points to trade at 6891.56 as OBC (7.62%), SBI (6.13%), PNB (6.03%), ICICI Bank (5.03%)and HDFC Bank (4.56%) were trading lower.

Followed by BSE auto index that was trading 103.17 points down at 5436.38 as Bajaj auto (0.92%), M&M (3.21%) and Maruti Udyog (4.43%) were trading in red.

BSE Oil & gas index was losing 11.07 points at 6537.47 as BPCL (1.43%) and GAIL were down while ONGC (0.36%) and Reliance (0.52%) were up.

BSE capital goods index was trading 117.51 points down at 9217.27as Suzlon (2.83%), BHEL (0.52%) and L&T (0.82%) were trading down.

BSE IT index was trading 36.45 points down at 5330.09 as Infosys (0.87%) and Satyam (0.63%) were trading in red.

However, BSE metals index was surging 85.00 points at 8570.49 as Nalco (3.84%), Hindalco (1.54%) and Tata steel (0.73%) were trading up.