Mid Day Market Commentary

Market is trading higher on the back of heavy buying across the board mostly led by IT stocks. Healthy quarterly earnings of the IT companies and the well-performed Asian markets are some convinced reasons driving the market today. Overall market breadth was strong as 1642 stocks advanced while 690 stocks declined and 75 stocks remained unchanged on BSE.

At 12.29 pm, BSE sensex was at 13888.79 up by 269.09 points and Nifty was at 4073.10 up by 75.45 points. BSE Mid cap also inclined by 74.54 points to trade at 5726.62 and BSE small cap by 98.34 points to trade at 7003.63.

BSE Metal index increased 203.89 points to 9577.31 as Nalco (3.41%), SAIL (2.66%), Tata steel (2.56%) and Hindalco (1.17%) are trading higher.

BSE capital goods index inclined 149.49 points to trade at 9803.78 as BHEL (2.25%), Siemens (1.54%), L&T (1.43%) and ABB (0.5%) are trading higher.

BSE Oil & gas index was trading 126.53 points up at 6990.50 as BPCL inclined by 2.27% along with ONGC 2.25% followed IPCL, HPCL and RPL advanced by 1.77%, 1.63% and 0.79% respectively.

BSE IT index grew 118.67 points to trade at 5093.50 as Satyam (6.12%), HCL (3.35%), Infosys (1.82%), TCS (1.71%) and Wipro (1.42%) are trading in green.

BSE Banks index inclined 91.27 points to trade at 6940.12; HDFC Bank (2.21%), PNB (1.9%), SBI (1.48%) and ICICI Bank (0.81%) are all trading in positive territory.

BSE auto index rose 64.89 points to trade at 4875.17 as M&M is trading higher by 2.15% followed Tata motors, Maruti Udyog and Bajaj auto by 1.96%, 1.44% and 1.01% respectively.

BSE Health Care index inclined by 20.35 points to trade at 3793.77 as Sun Pharma (1.27%), Ranbaxy (0.6%) and Dr. Reddy (0.34%) were trading higher.

BSE FMCG index grew 16.35 points to trade at 1827.18 as ITC up by 1.35% and HLL inclined by 0.7% where as Dabur trading lower by 2.45%.