Mid Session Market

The market is trading weak since mid morning on account of the ongoing political uncertainty. The market had opened on a strong note on the back of firm global markets. But later the market slipped into red as the heavy selling is seen among the selective scrips mainly led by Metal, Realty and Capital Goods stocks. Only the IT index is providing some relation to the market as some buying is senn in these stocks. The overall market breadth is weak as 464 stocks are advancing while 2108 stocks are declining on BSE.
At 12.42 pm, BSE Sensex was at 17,620.57 down by 152.79 points while Nifty was at 5,120.85 down by 65 points. The Mid cap is lower by 222.53 points at 7,262.98 and the small Cap dropped by 242.78 points to trade at 8,859.09.
BSE IT index up by 46.46 points to trade at 4,786.73 as Satyam (3.37%), Infosys (1.51%), TCS (1.40%), HCL Tech. (1.31%) and Wipro (1.09%) are trading lower.
Infosys is coming out with the quarterly numbers on the 11th of this week, which will give a further direction to the market there after.
BSE Metal index slipped 495.63 points to trade at 13,626.73. The major losers are Tata Steel (3.96%), SAIL (3.45%), Hindalco Industries (2.35%) and Sterlite Industries (1.97%).
BSE Capital goods index dropped 448.30 points to 15,294.29. The main losers are Siemens (4.21%), ABB (4.05%), L&T (2.91%) and BHEL (0.60%).
L&T is exploring the possibilities of making components of passenger aircraft at its factory at Coimbatore in Tamil Nadu. T
BSE Oil & Gas index was trading 225.16 points lower at 9,884.64 as RPL (3.77%), HPCL (3.32%) ONGC (2.69%) and GAIL (2.65%).
BSE Banks index decreased by 215.62 points to trade at 9,008.90. The main losers are PNB (2.86%), SBI (2.75%) and ICICI Bank (1.74%).
BSE Auto index dropped 11.91 points to trade at 5,400.28. Leading to the drop are Tata Motors (2.95%), M&M (2.53%) and Maruti Udyog (2.42%).