Tuesday, August 21, 2007

Mid Market Commentary

The market continued to trade in the negative territory as heavy selling witnessed across the board led by the Bank, IT and Metal stocks. However the Oil & Gas stocks are facing some buying momentum. The overall market breadth is negative as 878 stocks are advancing while 1636 stocks are declining and 54 stocks remained unchanged on BSE.

At 12.30 pm, BSE sensex was at 14,333.14 down by 94.41 points while Nifty was at 4,177.85 down by 31.20 points. The BSE mid cap is lower by 60.62 points at 6,282.16 and small cap dropped by 102.21 points to 7,730.15.

BSE Oil & Gas index was trading 11.37 points higher at 7,632.28 as IPCL (0.58%), HPCL (0.39%) and BPCL (0.11%) are trading in positive while GAIL (0.64%) and ONGC (0.27%) are trading in negative.

BSE Metal index dropped 102.86 points to trade at 10,096.19 as NALCO (2.31%), Hindalco (1.41%), Tata Steel (0.53%) and SAIL (0.03%) are trading in red.

BSE Banks index is trading down by 102.15 points to trade at 7,560.30 as SBI (1.68%), ICICI Bank (1.03%) and PNB (0.82%) are trading lower while HDFC Bank (0.63%) is trading higher.

BSE Capital goods index slipped 74.26 points to 12,256.11 as ABB (0.25%) and Siemens (0.40%) are trading in negative while BHEL (2.08%) and L&T (0.09%) are trading in positive.

BSE IT index decreased 73.66 points to trade at 4,385.41 as Wipro (2.13%), TCS (1.99%), Infosys (1.75%), HCL Tech. (1.63%) and Satyam (1.62%) are trading down.

BSE Health Care index dropped 30.87 points to trade at 3,507.72 as GSK (3.18%), Ranbaxy (1.07%), Cipla (0.76%) and Sun Pharma (0.28%), are trading lower.

BSE FMCG index fell 12.41 points to trade at 1,831.81 as HUL (1.41%) and ITC (0.16%) are trading in red while Dabur (0.20%) is trading in green.

BSE Auto index decreased 3.71 points to trade at 4,595.33 as Tata Motors (0.92%) and Hero Honda (0.92%) are trading in red while M&M (0.95%), Bajaj Auto (0.49%) and Maruti Udyog (0.23%) are trading in green.

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