Mid Day Market Commentary

Market was trading in negative territory on the backdrop of hike in the CRR and the Repo rates by the RBI and there was no sign of recovery. Overall market breadth was negative as 628 stocks advanced and 1455 stocks declined on BSE.

At 12.28 pm, BSE Sensex was at 12646.01 down by 426.09 points and Nifty was at 3689.90 down by 131.65 points. BSE Mid cap was also down by 117.40 points to trade at 5266.32 and BSE small cap was declined by 114.98 points to trade at 6355.53.

BSE capital goods index declined 325.87 points to trade at 8748.85 as L&T (4.35%) and BHEL (3.39%) trading lower.

BSE IT index dropped 115.58 points to trade at 4783.81 as Wipro (3.51%), Satyam (3.32%), Infosys (2.15%) and TCS (1.71%) trading in red.

BSE auto index fell 242.25 points to trade at 4626.88 as Tata Motors (6.66%), Bajaj Auto (6.04%), Maruti Udyog (5.09%), and Hero Honda (4.55%) were trading lower.

BSE Banks index declined 323.87 points to trade at 6218.14; SBI Bank (5.76%), ICICI Bank (5.02%) and HDFC Bank (3.64%) were trading in red.

BSE Oil & gas index was trading 178.37 points down at 6240.81 as ONGC (4.81%) followed by RIL (2.44%) were trading down.

BSE FMCG index dropped 32.71 points to trade at 1706.39 as HLL (3.78%) and ITC (1.26%) were trading lower.

BSE Metal index decreased 129.30 points to trade at 8359.14 as Tata Steel (1.67%) and Hindalco (1.38%) were trading in red.

BSE Health Care index declined by 48.29 points to trade at 3601.14 as Cipla (2.21%), Dr. Reddy''s (1.43%) were trading lower where as Ranbaxy (1.67%) trading in green.