Mid Day Market Commentary

The market is trading weak at lower level on the back of heavy selling pressures seen in IT, Metal and Oil & Gas sector. The frontline IT stocks are the top losers as the rupee increased to a nine year high and slipped below Rs.41 level. Overall market breadth is positive as 1284 stocks advanced while 963 stocks declined and 86 stocks remained unchanged on BSE.

At 12.32 pm, BSE sensex was at 14101.65 down by 35.07 points and Nifty was at 4131.35 down by 10.45 points. BSE Mid cap inclined by 60.68 points to trade at 5806.02 and BSE small cap by 63.86 points to trade at 7067.49.

BSE auto index rose 42.11 points to trade at 4924.14 as M&M (2.44%), Tata Motors (2.14%) and Hero Honda (0.16%) are trading in green while Bajaj auto (0.44%) and Maruti Udyog (0.22%) are trading in red.

BSE Banks index inclined 26.31 points to trade at 7187.71; as HDFC Bank (1.6%), SBI (0.27%), and PNB (0.02%) are trading higher while ICICI bank (0.73%) is trading lower.

BSE capital goods index inclined 23.28 points to trade at 9817.90 as ABB (1.34%) and BHEL (0.32%) are trading in green while L&T and Siemens are trading in red by (0.53%) and (0.52%) respectively.

BSE Health Care index inclined by 26.13 points to trade at 3793.03 as Ranbaxy (4%), Cipla (0.94%) and Sun Pharma (0.12%) are trading in green.

BSE FMCG index grew 5.82 points to trade at 1798.35 as ITC grew by 0.54% while HLL and Dabur declined by (0.86%) and (0.35%) respectively.

BSE Metal index decreased 30.62 points to 10013.25 as Tata Steel (1.6%), NALCO (0.71%), SAIL (0.63%) and Hindalco (0.4%) are trading lower.

BSE Oil & gas index was trading 6.06 points down at 7197.58 as GAIL (1.18%) and IPCL (0.88%) are trading in negative territory whereas RPL (2.59%), HPCL (1.21%), BPCL (0.45%) and ONGC (0.16%) are trading in positive territory.

BSE IT index fell 68.75 points to trade at 4958.54 as HCL (2.62%), Infosys (1.89%), Satyam (1.38%) and Wipro (0.38%) are trading in red.