Mid Day Market Commentary

Market started recovering from the early decline but it is still in deep red on the back of heavy selling pressure. Overall market breadth was weak as 1329 stocks declined while 919 stocks declined. 75 stocks remained unchanged on BSE.

At 12.34 pm, BSE sensex was at 13550.46 down by 121.73 points and Nifty was at 3972.25 down by 39.24 points. BSE Mid cap also declined by 22.13 points to trade at 5631.32 and BSE small cap by 18.22 points to trade at 6890.28.

BSE Banks index inclined 25.14 points to trade at 6835.86; SBI (1.51%), PNB (0.91%), HDFC Bank (0.33%) and ICICI Bank (0.24%) are all trading in positive territory.

BSE capital goods index declined 88.84 points to trade at 9589.33 as L&T (1.74%), BHEL (1.55%), Siemens (1.23%) and ABB (0.34%) are trading lower.

BSE IT index fell 57.60 points to trade at 4992.55 as Satyam (1.55%), Infosys (1.52%), Wipro (1.08%), HCL (0.65%) and TCS (0.55%) are trading in red.

BSE Metal index decreased 66.80 points to 9348.22 as Tata steel down by 1.41% to trade at Rs.504.3 along with SAIL 0.96%, Nalco 0.65% and Hindalco 0.24% trading in red.

BSE auto index declined 33.69 points to trade at 4809.84 as Bajaj (1.95%), Tata Motors (1.81%), M&M (1.05%) and Hero Honda (0.21%) are trading in red.

BSE Oil & gas index was trading 19.25 points down at 6847.46 as BPCL fell by 0.69% and in the same line ONGC by 0.68% followed by RPL and IPCL by 0.2% and 0.07% respectively.

BSE FMCG index slipped 5.13 points to trade at 1796.70 as HLL (1.44%) trading in red where as Dabur and ITC are trading in green by 0.35% and 0.32% respectively.

BSE Health Care index declined by 5.46 points to trade at 3757.14 as Dr.Reddy down by 0.95%, GSK 0.75% and Cipla 0.6% trading in red where as Ranbaxy lab. trading higher by 0.68%.