Mid Market Commentary

The market is still trading lower with a heavy deep cut. The broad based selling continued across the sectors. The heavy profit booking continued in the Metal, Capital Goods and Bank stocks. The overall market breadth is weak as 905 stocks are advancing while 1597 stocks are declining and 51 stocks remained unchanged on BSE.

At 12.31 pm, BSE sensex was at 14,445.29 down by 555.62 points while Nifty was at 4,201 down by 169 points. The BSE mid cap is lower by 153.42 points at 6,409.74 and small cap dropped by 128.58 points to 7,905.98.

BSE Metal index dropped 507.34 points to trade at 10,509.29 as Tata Steel (7.33%), Hindalco (3.90%), SAIL (3.38%) and NALCO (3.14%) are trading in red.

BSE Capital goods index decreased 441.96 points to 12,338.55 as BHEL (4.09%), L&T (3.76%), Siemens (3.10%) and ABB (2.71%) are trading in negative.

BSE Banks index is trading down by 326.01 points to trade at 7,838.43 as ICICI Bank (5.80%), SBI (4.46%), HDFC Bank (4.09%) and PNB (3.97%) are trading lower.

BSE Oil & Gas index was trading 280.51 points lower at 7,567.19 as IPCL (3.87%), ONGC (3.75%), BPCL (2.77%), HPCL (2.36%), RPL (1.75%) are trading in negative.

BSE Auto index dropped 115.91 points to trade at 4,695 as Tata Motors (3.62%), Maruti Udyog (3.28%), Bajaj Auto (3.14%) and M&M (2.80%) are trading in red.

BSE IT index decreased 85.72 points to trade at 4,675.72 as HCL Tech. (3.44%), TCS (2.65%), Infosys (1.94%), Satyam (1.47%) and Wipro (1.46%) are trading down.

BSE Health Care index slipped 69.82 points to trade at 3,559.78 as GSK (3.90%), Cipla (3.14%), Ranbaxy (2.41%), Sun Pharma (2.28%) and Dr. Reddy (1.72%) are trading lower.

BSE FMCG index fell 42.08 points to trade at 1,879.70 as ITC (3.03%), HUL (1.99%) and Dabur (1.96%) are trading in red.