Mid Session Market

The market has lost further ground and is trading in deep red. Banking index was the biggest loser toady followed by the IT index. However a good amount of buying was seen in the Capital Goods stocks. The BSE Midcap and Small Cap has outperformed the benchmark index today.
The overall market breadth is weak as 999 stocks are advancing while 1578 stocks are declining on BSE.
At 12.44 pm, BSE Sensex was at 17,727.22 down by 119.82 points while Nifty was at 5,190.25 down by 20.55 points. The Mid cap is lower by 10.44 points at 7,531.56 and the small Cap dropped marginally by 3.44 points to trade at 9,098.87.
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 Capital goods index surged 209.13 points to 15,278.33. The main winners are Suzlon Energy (5.02%), BHEL (2.56%), Siemens (0.73%) and L&T (0.72%).
BSE Oil & Gas index was trading 63.26 points higher at 10,058.53 as Essar Oil (1.66%), IPCL (1.38%) and RPL (0.62%). BPCL is trading lower by (0.85%) as it plans to exit the joint venture with the Royal Dutch Shell, which operates an LNG regassification terminal in Gujarat. The company will buy out BPCL''s 49% stake in its joint venture company Bharat Shell (BSL) for Rs 145.80 crore.
BSE Auto index improved 23.87 points to trade at 5,415.47. Leading to the rise are Tata Motors (0.67%), Maruti Udyog (0.55%) and Bajaj Auto (0.47%).
BSE Metal index dropped 24.52 points to trade at 14,137. The major gainers are Jindal Steel (3.91%) and Sesa Goa (0.97%).BSE Banks index decreased by 138.19 points to trade at 9,414.49. The main losers are ICICI Bank (2.93%), Allahabad Bank (2.50%), Andhra Bank (2.10%) and AXIS Bank (1.08%).
BSE IT index down by 37.05 points to trade at 4,745.95 as Wipro (2.26%), Mphasis (1.82%), Infosys (1.52%), TCS (1.48%) and HCL Tech. (1.34%).