Mid Day Market Commentary

The market loses further ground to trade in the negative territory as selling in the selective scrips continued. The IT scrips are showing most of the buying momentum. The overall market breadth is positive as 1272 stocks are advancing while 1116 stocks are declining on BSE.

At 12.31 pm, BSE sensex was at 14,450 down by 51 points while Nifty was at 4,266.05 down by 19.65 points. The BSE mid cap is higher by 20 points at 6,438 and small cap advanced by 22 points to 7,627.

BSE IT index advanced 51.76 points to trade at 4,851.75 as Satyam (1.75%), HCL Tech. (1.22%), Infosys (0.99%) and Wipro (0.20%) are trading higher.

BSE Capital goods index inclined 24.96 points to 11,974.87 as Siemens (0.58%) and ABB (0.15%) are trading in green while L&T (0.42%) and BHEL (0.34%) are trading in red.

BSE Metal index slipped 75.01 points to trade at 10,695.82 as Hindalco (1.18%), NALCO (0.77%) and Tata Steel (0.17%) are trading in negative.

BSE Banks index is trading lower 54.56 points to trade at 7,747.77 as SBI (1.37%), ICICI Bank (0.63%), HDFC Bank (0.36%) and PNB (0.19%) are trading in negative.

BSE Auto index declined 22.59 points to trade at 4,765.50 as M&M (1.49%), Tata Motors (0.44%) and Maruti Udyog (0.13%) are trading in red.

BSE Health Care index dropped 10.26 points to trade at 3,783.74 as Sun Pharma (1.45%), Cipla (0.97%), Ranbaxy (0.86%) and GSK (0.63%) are trading in negative.

BSE FMCG index fell 7.90 points to trade at 1,811.34 as Dabur (0.96%) and HLL (0.53%) are trading in red.

BSE Oil & Gas index was trading 6.94 points down at 7,651.40 as ONGC (1.91%), GAIL (0.64%), BPCL (0.30%) and IPCL (0.29%) are trading lower.