Mid Market Commentary

The market is still trading in deep negative territory following the ongoing subprime problem globally. The heavy profit booking continued across the board. The Metal, Capital Goods, Realty and Bank are the hardest hit sectors. The overall market breadth is strong as 1740 stocks are advancing while 683 stocks are declining and 53 stocks remained unchanged on BSE.

At 12.31 pm, BSE sensex was at 14,708.73 down by 391.42 points while Nifty was at 4,279 down by 124 points. The BSE mid cap is lower by 153.86 points at 6,405.72 and small cap dropped by 168.92 points to 7,795.20.

BSE Metal index dropped 393.99 points to trade at 10,724.88 as Hindalco (3.21%), Tata Steel (3.07%), NALCO (2.70%) and SAIL (2%) are trading in red.

BSE Capital goods index slipped 322.15 points to 12,561.57 as ABB (3.47%), Siemens (3.27%), BHEL (2.77%) and L&T (2.12%) are trading in negative.

BSE Banks index is trading down by 279.23 points to trade at 7,696.25 as PNB (3.91%), ICICI Bank (3.60%), SBI (3.51%) and HDFC Bank (2.85%) are trading in negative.

BSE Oil & Gas index was trading 221.25 points down at 7,669.90 as ONGC (3.23%), GAIL (2.80%), IPCL (2.75%), RPL (1.77%), HPCL (0.79%) and BPCL (0.63%) are trading lower.

BSE Auto index fell 106 points to trade at 4,663.15 as Hero Honda Motors (3.82%), Maruti Udyog (3.02%), M&M (2.62%), Bajaj Auto (1.80%) and Tata Motors (1.66%) are trading in red.

BSE IT index decreased 95.43 points to trade at 4,638.42 as TCS (3.23%), Wipro (3.14%), HCL Tech. (2.57%), Infosys (1.40%) and Satyam (0.85%) are trading down.

BSE Health Care index decreased 72.14 points to trade at 3,579.14 as Cipla (2.13%), Ranbaxy (1.34%), GSK (1.33%), Sun Pharma (1.18%) and Dr. Reddy (0.63%) are trading lower.

BSE FMCG index dropped 41.92 points to trade at 1,878.11 as Dabur (2.88%), HUL (1.99%) and ITC (1.83%) are trading in red.