Mid Market Session

The market is paring its gains after a phenomenal rise in the morning. The morning trading was inspired by the US fed rate cut but later due to some profit booking it slipped. At this juncture investors are playing a safe mode, as the market looks highly volatile after shedding more than 200 points. However Capital goods and Metal sector have kept the momentum going. The Mid cap is lower by 85.39 points at 8,049.82 and small cap also lost by 88.16 points to 9,708.70.

The overall market breadth looks negative as 974 stocks are advancing while 1638 stocks are declining on BSE.

At 12.33 pm, BSE Sensex is flat with a gain of 10.54 points at 19,848.53, while Nifty gains 10.8 points at 5911.45.

BSE CG has once again made a new milestone of 20,927.53 with a gain of 495.36 points at 20,290.68. The sector shows immense potential because of huge order book. L&T is the shining star of this sector. It has formed a joint venture with UAE based Eastern International to build 295 villas in Dubai. L&T and ALFA are up by 4.25% and 5.42% at Rs. 4,425 and Rs. 1,050 respectively.

BSE Metal index is gaining by 111.13 points at 17,996.06. Jindal Steel has been gaining since a week and now its high by 7.28% at Rs. 12,750.10. Sterlite and Jindal Saw are up by 2.52% and 2.57% at Rs. 1,065.15 and Rs. 807.45 respectively.

BSE Bankex is moving ahead by 176.05 points at 10,831.38. HDFC, Bank of Baroda and ICICI bank are up by 3.32%, 4.13% and 1.83% at Rs. 1,708, Rs. 356.50 and Rs. 1280 respectively.

BSE Realty is low by 104.25 points at 10,398.52. The sector had been rally for nearly two weeks and now it is facing some profit booking as many stocks are in lifetime high. Unitech Ltd, DLF, Indiabull, and Sobha Developers are loosing by 0.95%, 0.67%, 2.06 and 1.45% respectively.