Mid Market Commentary

The market is witnessing heavy sell off across the board. The Metal stocks are facing the huge selling pressure. The entire BSE indexes are trading in the deep red note. 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 13,848.89 down by 509.32 points while Nifty was at 4,023.85 down by 154.75 points. The BSE mid cap is lower by 209.09 points at 6,143.35 and small cap dropped by 237.16 points to 7,560.10.

BSE Metal index dropped 379.87 points to trade at 9,919.74 as Tata Steel (4.70%), NALCO (1.95%), SAIL (1.41%) and Hindalco Industries (0.69%) are trading in red.

BSE Capital goods index decreased 324.28 points to 11,890.28 as ABB (6.04%), BHEL (3.18%), L&T (2.63%) and Siemens (2.11%) are trading in negative.

BSE Banks index is trading down by 134.16 points to trade at 7,287.17 as HDFC Bank (3.47%), ICICI Bank (2.28%), SBI (1.51%) and PNB (0.21%) are trading lower.

BSE Oil & Gas index was trading 134.53 points lower at 7,370.06 as HPCL (6.91%), GAIL (4.17%), RPL (3.60%), ONGC (2.93%), BPCL (2.22%) and IPCL (0.29%) are trading in negative.

BSE Auto index dropped 106.30 points to trade at 4,555.87 as Maruti Udyog (6.18%), Bajaj Auto (2.81%), Hero Honda (2.64%), M&M (1.38%) and Tata Motors (1.06%) are trading in red.

BSE IT index decreased 180.80 points to trade at 4,456.63 as Satyam (5.98%), Infosys (4.86%), Wipro (3.20%), TCS (2.48%) and HCL Tech. (1.30%) are trading down.

BSE Health Care index slipped 63.06 points to trade at 3,463.89 as GSK (3.65%), Ranbaxy (3.32%), Cipla (1.64%), Dr. Reddy (1.27%) and Sun Pharma (0.22%) are trading lower.

BSE FMCG index fell 25.65 points to trade at 1,829.45 as ITC (1.90%), HUL (1.53%) and Dabur (1.02%) are trading in red.