Mid Day Market Commentary

The market is trading higher on the back of news that the RBI in its monetary policy announced today has kept all policy rates like CRR, repo, reverse repo rate and bank rates unchanged. This has led to heavy buying in the banking stocks. Overall market breadth is positive as 1247 stocks advanced while 1016 stocks declined and 81 stocks remained unchanged on BSE.

At 12.35 pm, BSE sensex was at 14160.82 up by 232.49 points and Nifty was at 4151.05 up by 65.95 points. BSE Mid cap also inclined by 40.64 points to trade at 5743.08 and BSE small cap by 38.06 points to trade at 7008.98.

BSE Banks index inclined 253.28 points to trade at 7135.12; as PNB (6.4%), SBI (5.68%), HDFC bank (3.57%), ICICI bank (3.53%) are trading higher.

BSE Metal index increased 103.05 points to 9999.89 as Tata Steel (1.8%), Hindalco (0.27%), and NALCO (0.25%) are trading higher while SAIL was trading lower by 0.04%.

BSE auto index rose 92.36 points to trade at 4895.27 as Tata motors grew by 3.88% followed by Maruti Udyog (2.76%), Bajaj auto (2.26%) and M&M (2.08%).

BSE Oil & gas index was trading 51.62 points up at 7154.51 as IPCL (1.38%), RPL (1.35%), ONGC (0.93%) are trading in green while GAIL (1.13%), BPCL (0.51%) and HPCL (0.25%) are trading in negative territory.

BSE capital goods index inclined 28.48 points to trade at 9799.30 as Siemens (2.93%), L&T (0.91%) and ABB (0.79%) are trading in green while BHEL (219%) is trading in red.

BSE IT index grew 10.75 points to trade at 5073.61 as HCL (1.26%), TCS (0.86%), Satyam (0.65%) and Wipro (0.15%) are trading in green while Infosys (0.12%) is trading in red.

BSE Health Care index inclined by 15.80 points to trade at 3755.69 as Cipla (2.11%), Ranbaxy (0.47%), Sun Pharma (0.4%) and Dr.Reddy (0.13%) are trading in green.

BSE FMCG index grew 5.96 points to trade at 1788.34 as HLL, Dabur and ITC grew by 0.59%, 0.57% and 0.13% respectively.