Mid Market Session

The market is still trading weak on account of heavy selling continued among the selective scrips mainly led by IT, Bank and Realty stocks. However the strong buying is seen in the Metal, Capital Goods and Oil & Gas stocks. The BSE Mid Cap and Small Cap are also trading in the deep red territory that led to the overall market breadth turns negative. Only 921 stocks are advancing while 1582 stocks are declining and 79 stocks remained unchanged on BSE.

At 12.30 pm, BSE Sensex was at 19,369.44 down by 31.23 points and Nifty was at 5,783.80 down by 2.70 points. The Mid cap is lower by 29.44 points at 7,985.86 and the small Cap dropped by 102.67 points to trade at 9,700.36.

BSE Metal index surged 169.28 points to trade at 17,375.34. The major gainers are Sterlite Industries (6.19%), Sesa Goa (5.40%), JSW Steel (2.48%) and Tata Steel (0.59%).

BSE Oil & Gas index was trading 169.02 points higher at 11,558.23 as GAIL (5.81%), Reliance (2.73%), BPCL (0.67%) and HPCL (0.45%) are trading higher.

GAIL is seeking stake in an LNG plant in Nigeria and has expressed interest in setting up a gas-based petrochemical plant in the West African nation.

ONGC has decided to pick up sizeable stakes in two more blocks in Sudan from foreign oil majors. This will extend ONGC''s stakes to five operating blocks in Sudan.

BSE Capital goods index improved 196.06 points to 19.893.35. The main gainers are BHEL (4.29%), Punj LLyod (3.65%), L&T (2.16%) and Siemens (0.60%).

BSE Banks index slipped by 73.03 points to trade at 10,713.48. The major losers are HDFC Bank (2.87%), ICICI Bank (1.13%) and PNB (0.55%).

BSE IT index down by 195.02 points to trade at 4,345.67 as Infosys (5.18%), Satyam (3.76%), HCL Tech. (3.59%) and Wipro (3.49%) are trading lower.

BSE Health Care index decreased by 11.93 points to trade at 3,866.80. Leading the loss are Dr. Reddy (1.95%), Fortis Health (1.20%) and Aurobindo Pharma (1.68%).