Friday, May 11, 2007

Mid Day Market Commentary

The market has moved up a bit and is trading with modest gains as some buying was seen in the selective scrips led by Banking and IT. The overall market breadth is positive. The BSE mid cap and small cap are trading higher by 30.38 points and 38.61 points to 5846.50 and 6990.10 respectively.

At 12.30 pm, BSE sensex was at 13821.99 up by 50.76 points and Nifty was at 4080.80 up by 14 points. About 1209 stocks advanced while 977stocks declined and 83 stocks remained unchanged on BSE.

BSE IT index grew 45.63 points to trade at 4923.80 as Infosys (2.17%), HCL (1.71%) and TCS (1.28%) are trading in green while Wipro (0.74%) is trading in red.

BSE Banks index grew 34.44 points to trade at 6898.34 as PNB (1.12%), SBI (0.85%) and ICICI Bank (0.72%) are trading higher whereas HDFC Bank (1.43%) is trading lower.

BSE Oil & gas index was trading 10.91 points up at 7167.29 as RPL (5.36%), IPCL (0.77%), HPCL (0.26%) and GAIL (0.14%) are trading higher.

BSE Auto index inclined 3.39 points to trade at 5000.72 as Bajaj Auto (3.58%) and Maruti (0.12%) are trading in positive whereas M&M (2.73%) and Hero Honda (1.27%) are trading in negative.

BSE Metal index dropped 36.27 points to trade at 10070.48 as Tata Steel (0.81%), Hindalco (0.34%) and NALCO (0.29%) are trading lower whereas SAIL (0.67%) is trading higher.

BSE FMCG index slipped 22.49 points to trade at 1796.90 as HLL (1.42%), ITC (1.22%) and Dabur (0.21%) are trading in red.

BSE Health Care index dropped 21.98 points to trade at 3675.25 as Cipla (1.47%), Sun Pharma (1.37%), Dr. Reddy (0.82%) and GSK (0.2%) are trading lower.

BSE Capital goods index declined 17.58 points to trade at 9856.10 as L&T (0.26%) and ABB (0.13%) are trading in red while Siemens (0.75%) and BHEL (0.11%) are trading in green

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