Mid Market Session

The BSE Sensex amid huge volatility. The investors are still concerned about the SEBI policy on P-Notes. The SEBI is coming up with a policy on 25th October to curb the participatory notes and hence induce the foreign investors to get registered with SEBI. However in another move SEBI has given a green signal for investors non-regulated in their home countries to register as FIIs, if they disclose the nature of funds and investments. Mid cap is higher by 57.02 points at 7,613.26 and small cap advanced by 73.63 points to 9,209.35.

The overall market breadth looks fragile as 1398 stocks are advancing while 1153 stocks are declining on BSE.

At 12.37pm, BSE Sensex was up by 4.73 points at 18,497.57 while Nifty was low by 15 points at 5,468.30.

BSE Metal index gained by 313.17points to trade at 15,705.46. The expected rise in the prices of Iron Ore by 25% on 1st April 2008 on the back of huge Chinese demand has propelled the stocks of Sesa Goa Ltd, and SAIL by 4.61% at Rs3,240 and 2.33% at Rs 242.05 respectively.

BSE Realty has remained firm since morning with a gain of 254.66 points at 9,822.69. Indiabulls Real Estate is leading with a gain of 12.98% at Rs 631.75 followed by Akruti Nirman at Rs 998.50 with a gain of 5.58%. The sector had also paid the advance tax in good numbers which shows a sign of healthy growth in profitability. Unitech, DLF, the Raheja group, Ambuja Cements and the Mangalam group were the top tax payers in this sector.

BSE Auto has faced a fierce hit as it lost 59.42 points at 5,393.17. Facing the plight of stagnant demand during the season this sector has paid the lowest advance tax to the government as it also depicts the bottom margin pressures. Hero Honda slipped by 4.18% at Rs730 and Bajaj auto also dipped by 1.14% at Rs 2,495. Hero Honda has also reduced the prices of its bikes.