Mid Day Market Commentary

The market is trading in the positive territory. The buying in the selective scrips continued. The Cement scrips are showing most of the buying momentum after the Finance Chidambaram announced yesterday that there would be no cut down in the cement prices. The overall market breadth is positive as 1548 stocks are advancing while 844 stocks are declining and 71 stocks remained unchanged on BSE.

At 12.31 pm, BSE sensex was at 14,483.42 up by 52.36 points while Nifty was at 4,271.75 up by 7.80 points. The BSE mid cap is higher by 57.31 points at 6,482.12 and small cap advanced by 79.77 points to 7,693.61.

BSE Capital goods index inclined 33.86 points to 12,021.91 as L&T (0.51%), siemens (0.14%) and BHEL (0.14%) are trading in green.

BSE Banks index is trading higher 18.99 points to trade at 7,771.51 as SBI (1.04%), PNB (0.57%) and ICICI Bank (0.32%) are trading in positive.

BSE IT index advanced 10.22 points to trade at 4,853.69 as HCL Tech. (0.30%) and Infosys (0.26%) are trading higher while Wipro (0.20%) is trading lower.

BSE Health Care index grew 7.64 points to trade at 3,789.18 as Ranbaxy (1.75%), GSK (1.64%), Dr. Reddy (0.92%) and Cipla (0.49%) are trading in positive.

BSE Metal index slipped 47.15 points to trade at 10,638.44 as Hindalco (2.94%) and NALCO (0.38%) are trading in negative while SAIL (0.77%) and Tata Steel (0.17%) are trading in positive.

BSE Auto index declined 23.13 points to trade at 4,723.11 as Bajaj Auto (1.83%), Maruti Udyog (1.07%), M&M (0.56%) and Tata Motors (0.30%) are trading in red.

BSE Oil & Gas index was trading 5.72 points down at 7,611 as GAIL (0.65%), IPCL (0.58%) ONGC (0.33%) are trading lower whereas BPCL (1.21%) and HPCL (0.77% are trading higher.

BSE FMCG index fell 3.33 points to trade at 1,812.99 as HLL (1.05%) and Dabur (0.97%) are trading in red.