Mid Session Market

The market surged to fresh all time highs in the mid afternoon trade with BSE Sensex is trading above 500 points. The market had advanced in opening trade with Sensex and S&P CNX Nifty hitting all-time highs on the back of speculation of further rate cut by Fed after the last month''s straight 50 basis points cut in fed funds rate to 4.75% from 5.25%. BSE Realty index was the top gainer among the sectoral indices. It rose 6.08% to 9,740.10. It hit an all time high of 9,850.97.The overall market breadth is positive as 1477 stocks are advancing while 1183 stocks are declining and 63 stocks remained unchanged on BSE.
At 12.48 pm, BSE Sensex was at 17,835.25 up by 506.63 points while Nifty was at 5,211.70 up by 142.75 points.
Rupee was quoting at 39.83 against a US dollar. Rupee slipped to its lowest due to the lead of other Asian currencies against the dollar and on concerns about RBI intervention.
BSE Oil & Gas index was trading 511.24 points higher at 10,193.83 as Reliance (6.19%), ONGC (5.21%), Essar Oil (4.34%), RPL (3.55%) and BPCL (3.10%) are trading in positive.
BSE Metal index surged 424.94 points to trade at 14,324.71. The major gainers are Sterlite Industries (4.71%), JSW Steel (2.59%), Hindalc Industries (2%) and NALCO (0.60%).
SAIL is trading higher by (3.55%) as the company raised the prices of its products by Rs500-800 per tonne as a result of its rising in input costs.
BSE Capital goods index advanced 389.47 points to 15,078.43. The main winners are Suzlon Energy (4.46%), Siemens (4.11%), ABB (3.01%) and BHEL (2.81%).
BSE Banks index increased by 183.49 points to trade at 9,579.27. Lead to the rise are Kotak Bank (5.11%), ICICI Bank (3.40%), SBI (1.82%), HDFC Bank (1.64%) and PNB (0.84%).
BSE IT index up by 124.69 points to trade at 4,722.80 as Infosys (3.54%), HCL Tech. (2.76%), Satyam (2.65%), TCS (2.64%) and Wipro (2.03%).
BSE Auto index improved 109.24 points to trade at 5,425.57. The main gainers are Tata Motors (2.98%), Bajaj Auto (1.60%) and Hero Honda (0.68%).