Mid Session Market

The market is now trading higher with significant gains on account of strong buying is seen in the Metal, Capital Goods and Bank stocks. The overall market breadth is positive as 1362 stocks are advancing while 1210 stocks are declining and 71 stocks remained unchanged on BSE.
Inflation number for the week ended Sep 15 was reported at 3.23% as against 3.32% during the same period of the previous year.
At 12.40 pm, BSE Sensex was at 17,266.79 up by 116.23 points while Nifty was at 5,031.30 up by 30.75 points. The BSE mid cap is higher by 51.96 points at 7,383.92 and small cap advanced by 52.50 points to 9,099.05.
BSE Metal index surged 456.29 points to trade at 13,958.89. The major gainers are Tata Steel (7.07%), JSW Steel (5.34%), SAIL (3.18%) and Hindalco Industries (3.90%). Tata Steel surged as the company is expecting nearly 60% of its revenue from its overseas operations.
BSE Capital goods index improved 141.51 points to 14,832.58. Leading to this charge are BHEL (1.62%), ABB (1.56%), L&T (0.74%) and Siemens (0.67%).Suzlon Energy is trading higher by (1.42%) to Rs.1,468.05 as the company has bagged an order worth over Rs 31 crore from the Turkish wind energy firm Ayen Enerji.
BSE Banks index increased by 120.93 points to trade at 9,350.45. The main gainers are SBI (3.14%), ICICI Bank (1.75%) and PNB (1.12%).
BSE IT index improved by 27.76 points to trade at 4,671.19 as Satyam (1.81%), Wipro (1.09%), and Infosys (0.37%).Satyam is trading as the company has launched a new solutions centre in Brisbane. The facility will support Queensland-based clients across various IT platforms with an emphasis on enterprise application-based solutions.
BSE Oil & Gas index was trading 13.99 points higher at 9,653.09 as RPL (1.99%), GAIL (1.32%), Indian Oil (1.57%) and ONGC (0.33%) are trading in positive.
BSE Auto index dropped 26.53 points to trade at 5,244.13. The main losers are Hero Honda (2.01%), M&M (1.86%), Bajaj Auto (1.46%) and Tata Motors (0.27%).