Mid Day Market Commentary

After opening on positive note, Market slipped into negative territory and was continuing its journey in this region. While Health care and oil & gas stocks were witnessing buying interest whereas Auto, Bank and Capital goods stocks were witnessing selling activities. Overall market breadth was negative as 829 stocks advanced and 1556 stocks declined on BSE index.

At 12.45 pm, BSE sensex was at 14383.29 down by 19.6 points and Nifty was at 4148.50 down by 16.05 points. BSE Mid cap was down by 37.84 points to trade at 5913.10 and BSE small cap was down by 50.77 points to trade at 7266.15.

BSE Oil & gas index was adding 50.71 points at 6784.12 as HPCL (2.55%), Gail (2.20%), and Reliance (1.17%) were up.

BSE Health care index was trading at 3820.68, up by 17.19 points as Ranbaxy labs, Sun pharma and Dr Reddys were trading in green.

BSE Banks index was trading 39.66 points down at 7249.44 as HDFC (1.11%), PNB (0.64%), SBI (0.30%), and ICICI Bank (0.53%) were trading in red.

Followed by BSE auto index was trading 54.32 points down at 5567.14 as M&M (1.62%), Maruti Udyog (1.43%), Tata Motors (1.55%) and Bajaj auto (0.18%) were trading down.

BSE capital goods index was declining 57.18 points at 9588.61 as Suzlon (3.12%) and ABB (1.61%) were trading down.

BSE IT index was trading 7.00 points down at 5567.70 as Infosys and Wipro were trading in red.