Mid Day Market Commentary

After opening on positive note, market was continuously losing its ground and was trading in negative territory on back of profit booking in selective stocks. Overall market breadth was negative as 883 stocks advanced and 1445 stocks declined on BSE index.At 12.50 pm, BSE sensex was at 13207.53 down by 78.39 points and Nifty was at 3852.25 down by 8.8 points. BSE Mid cap was down by 8.66 points to trade at 5392.66 and BSE small cap was down by 5.67 points to trade at 6450.94.BSE Oil & gas index was trading flat at 6436.80 as RIL (0.11%), ONGC (0.8%) and IPCL (0.82%) were trading green.BSE Metal index was trading 35.84 points up at 8489.81 as Tata Steel (1.75%) and Hindalco (0.11%) were trading up.BSE capital goods index was slipping 98.84 points at 9030.94 as Suzlon (1.45%), L&T (1.42%), ABB (0.18%) and BHEL (0.52%) were trading lower.BSE IT indexes tumbled 26.24 points to trade at 5041.49 as Infosys down by (1.08%) while Satyam (1.45%) and Wipro (0.13%) were rising. BSE auto index was trading down 64.80 points at 4975.12 as Tata Motors (3.875), Maruti Udyog (1.67%), and Bajaj auto (1.15%) were declining.BSE Banks index was down by 45.88 points to trade at 6776.45; HDFC Bank (3.38%), SBI (0.34%), and ICICI Bank (0.24%) were trading lower.BSE FMCG index was down by 4.45 points to trade at 1685.02 as ITC (0.38%), HLL (0.78%) and Dabur (2.03%) were trading lower.