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 626 stocks advanced and 1683 stocks declined on BSE index.At 12.35 pm, BSE sensex was at 12945.32 down by 179 points and Nifty was at 3773.65 down by 46.3 points. BSE Mid cap was down by 57.56 points to trade at 5319.15 and BSE small cap was down by 74.39 points to trade at 6351.34.BSE Metal index was trading 13.79 points up at 8459.60 as Tata Steel (1.35%) and SAIL (0.77%) were trading up.BSE IT index tumbled 137.41 points to trade at 4872.01 as HCL Tech (5.72%), Satyam (3.73%), TCS (3.48%) and Infosys (2.17%) were trading lower. BSE auto index was trading down 104.16 points at 4845.87 as Tata Motors (2.83%), Maruti Udyog (2.91%), and Hero Honda (2.47%) were declining. BSE Banks index was down by 126.91 points to trade at 6560.31; HDFC (2.82%), PNB Bank (1.91%), SBI (2.0%), and ICICI Bank (1.94%) were trading lower.BSE Oil & gas index was trading 42.29 points down at 6370.37 as GAIL, RIL, HPCL and BPCL were trading in red.BSE capital goods index was slipping 72.96 points at 8965.53 as Suzlon, L&T, ABB and Siemens were trading lower.