Mid Market Commentary

The market has recovered from the day''s low but is still trading in red as smart buying emerged in the selective scrips led by the Metal stocks. The Mid Cap and Small Cap have also seen some buying momentum that led them to trade in positive. The overall market breadth is turns positive as 1244 stocks are advancing while 1122 stocks are declining and 77 stocks remained unchanged on BSE.

At 12.30 pm, BSE sensex was at 14,884.27 down by 34.92 points while Nifty was at 4,314.90 down by 5.80 points. The BSE mid cap is higher by 12.30 points at 6,421.94 and small cap advanced by 36.91 points to 7,845.35.

BSE Metal index surged 255.04 points to trade at 11,003.31 as Tata Steel (6.44%), SAIL (3.27%), Hindalco Industries (1.11%) and NALCO (0.76%) are trading in green.

BSE Auto index improved 2.31 points to trade at 4,678.62 as Bajaj Auto (0.92%), Hero Honda (0.63%), Tata Motors (0.60%) and Maruti Udyog (0.48%) are trading in green whereas M&M (0.61%) is trading in red.

BSE Oil & Gas index was trading 0.08 points higher at 7,839.25 as BPCL (1.33%), ONGC (0.87%) and IPCL (0.54%) are trading in positive while RPL (0.89%) and GAIL (0.65%) are trading in negative.

BSE Capital goods index dropped 74.31 points to 13,042.91 as Siemens (2.11%), L&T (0.82%), ABB (0.63%) and BHEL (0.17%) are trading in negative.

BSE Banks index is trading down by 35.72 points to trade at 7,600.49 as ICICI Bank (1.16%), HDFC Bank (0.96%) and PNB (0.85%) are trading in negative while SBI (0.45%) is trading in positive.

BSE Health Care index decreased 16.67 points to trade at 3,476.76 as Sun Pharma (1.21%), Ranbaxy (1.09%), GSK (0.79%), Cipla (0.58%) and Dr. Reddy (0.16%) are trading in red.

BSE IT index slipped by 43.40 points to trade at 4,515.36 as Infosys (1.12%), Wipro (1.07%), TCS (0.58%) and HCL Technologies (0.34%) are trading in negative.

BSE FMCG index fell 10.57 points to trade at 1,920.36 as HUL (0.592%) and ITC (0.63%) are trading lower while Dabur (0.70%) is trading higher.

Source : www.indian-commodity.com