Mid Day Market Commentary

The market after a smart gap up opening now remains range bound and trading higher. The overall market breadth is strong as 1415 stocks are advancing while 955 stocks are declining and 80 stocks remaining unchanged on BSE.

At 12.30 pm, BSE sensex was at 14,335.47 up by 208.16 points and Nifty was at 4,222.95 up by 52 points. The BSE mid cap and small cap are trading higher by 58.75 points and 50.92 points to 6,100.08 and 7,256.88 respectively.

BSE Banks index surged 145.01 points to trade at 7,558.33 as SBI (3.33%), ICICI Bank (2.22%), HDFC Bank (1.4%) and PNB (1.36%) are trading higher.

BSE Oil & gas index was trading 112.10 points up at 7,513.66 as HPCL (2.41%), BPCL (2.01%), IPCL (1.72%) and ONGC (1.32%) are trading in green.

BSE Capital goods index was trading 101.91 points up at 10,184.84 as BHEL (2.15%), L&T (0.95%) and ABB (0.31%) are trading in green.

BSE Metal index grew 80.53 points to trade at 10,405.79 as Tata Steel (2.05%), SAIL (0.64%) are trading higher while NALCO (1.21%) and Hindalco (0.2%) are trading lower.

BSE IT index advanced 65.81 points to trade at 4,912.88 as TCS (1.47%), Infosys (1.43%), HCL (1.01%), Satyam (0.75%) and Wipro (0.73%) are trading in green.

BSE FMCG index inclined 26.43 points to trade at 1,865.11 as Dabur (2.22%), ITC (1.38%) and HLL (0.35%) are trading in green.

BSE Auto index grew 19.14 points to trade at 5,064.24 as Maruti Udyog (1.6%), Tata Motors (1.1%) and Hero Honda (0.75%)are trading positive whereas Bajaj Auto (0.91%) is trading negative.

BSE Health Care index inclined 15.31 points to trade at 3,737.24 as Dr. Reddy (2.38%) and Ranbaxy (0.21%) are trading positive while GSK (1.4%) and Sun Pharma (0.54%) are trading negative.