Mid Day Market Commentary

The market is trade flat with negative bias. The IT scrips are facing the selling pressures as the Indian rupee become stronger as compared to the dollar due to the foreign funds entry into the India''s largest ever IPO of DLF. The overall market breadth is negative as 795 stocks are advancing while 1458 stocks are declining and 72 stocks remained unchanged on BSE.

At 12.32 pm, BSE sensex was at 14,066.21 down by 17.20 points and Nifty was at 4,137.70 down by 7.9 points. The BSE mid cap is lower by 27.70 points at 6,101.78 and small cap dropped by 50.52 points to 7,269.49.

BSE Metal index inclined 6.78 points to trade at 10,265.52 as Tat Steel (1.96%), NALCO (0.33%) and SAIL (0.31%) are trading higher while Hindalco (1.49%) is trading lower.

BSE FMCG index advanced 2.70 points to trade at 1,792.89 as HLL (1.71%), ITC (0.75%) and Dabur (0.41%) are trading in green.

BSE IT index dropped 45.61 points to trade at 4,969.49 as Satyam (3.26%), HCL (1.69%), TCS (0.77%) and Wipro (0.74%) are trading lower.

BSE Auto index declined 27.45 points to trade at 4,676.48 as M&M (1.82%), Bajaj Auto (0.82%), and Tata Motors (0.50%) are trading in negative while Hero Honda (0.63%) is trading in positive.

BSE Capital goods index slipped 18.95 points to 10,844.05 as ABB (0.43%), BHEL (0.11%) and Siemens (0.06%) are trading in red while L&T (0.44%) is trading in green.

BSE Health Care index declined 11.64 points to trade at 3,740 as Dr. Reddy (1.66%) and Sun Pharma (0.82%) are trading in negative while GSK (1.08%) and Ranbaxy (0.24%) are trading in positive.

BSE Oil & Gas index was trading 9.09 points down at 7,404.88 as GAIL (2.62%) and RPL (0.42%) are trading in red while IPCL (0.40%), ONGC (0.25%) and HPCL (0.22%) are trading in green.

BSE Banks index is trading lower 5.84 points to trade at 7,421.71 as PNB (2.51%) is trading lower while ICICI Bank (0.34%), HDFC Bank (0.24%) and SBI (0.24%) are trading higher.