Mid Market Commentary

The market has gave its opening gains and slipped to trade in the negative territory. The selling of scrips was seen in the IT and Bankex stocks. The overall market breadth is positive as 1368 stocks are advancing while 1245 stocks are declining on BSE.

However the broader market has outperformed the benchmark indices as At 12.30 pm, BSE Sensex was at 15,535.84 down by 60.99 points while Nifty was at 4,491.90 down by 15.95 points. The BSE mid cap is lower by 13.52 points at 6,870.87 and small cap advanced by 2.99 points to 8,517.36.

BSE Metal index surged 117.33 points to trade at 11,723.38 as NALCO (1.47%), Sterlite industries (1.16%), JSW Steel (0.82%), SAIL (0.58%) and Tata Steel (0.58%) are trading higher.

BSE Capital goods index improved 58.37 points to 13,712.66 as L&T (0.66%), BHEL (0.26%) and ABB (0.25%) are trading up whie Siemens (0.39%) is trading down.

BSE Oil & Gas index was trading 12.58 points higher at 8,272.51 as GAIL (0.97%) and RPL (0.19%) are trading in positive while BPCL (0.95%), HPCL (0.83%) and ONGC (0.48%) are trading in negative.

BSE FMCG index increased 10.58 points to trade at 2,095.68 as Dabur (3.29%) and HUL (0.26%) are trading higher while Nestle (0.31%) is trading lower.

BSE Banks index is trading up by 3.32 points to trade at 8,103.69 as PNB (0.20%) is trading in green while SBI (0.55%), HDFC Bank (0.50%) and ICICI Bank (0.22%) are trading in red.

BSE Health Care index increased 1.41 points to trade at 3,722.22 as Sun Pharma (0.80%) is trading in green while Dr. Reddy (0.91%), GSK (0.70%), Cipla (0.56%) and Ranbaxy (0.48%) are trading in red.

BSE IT index slipped by 46.04 points to trade at 4,524.85 as HCL Tech. (1.70%), TCS (1.53%), Infosys (1.23%), Satyam (1.13%) and Wipro (1.08%) are trading down.

BSE Auto index dropped 10.30 points to trade at 4,890.07 as Tata Motors (1.28%), Maruti Udyog (0.91%), Hero Honda (0.63%), Mahindra & Mahindra (0.14%) and Bajaj Auto (0.05%) are trading in positive.