Mid Session Market

The market is still trading weak on account of heavy selling continued across the board with an exception of FMCG index, which is trading marginally higher. Mainly the heavy selling witnessed in the Metal, Capital Goods and Realty 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 684 stocks are advancing while 1810 stocks are declining and 46 stocks remained unchanged on BSE.

At 12.30 pm, BSE Sensex was at 18,483.24 down by 424.36 points and Nifty was at 5,523.35 down by 139.90 points. The Mid cap is lower by 125.65 points at 7,887.98 and the small Cap dropped by 155.13 points to trade at 9,601.75.

BSE Metal index dropped 514.03 points to trade at 16,350.19. The major losers are Sterlite Industries (5.47%), Tata Steel (4.20%) and SAIL (3.35%).

BSE Capital goods index slipped 554.64 points to 19.100.65. The main losers are BHEL (4.78%), ABB (3.23%), Siemens (2.90%) and L&T (2.66%).

BSE Banks index slipped by 311.30 points to trade at 9,901.12. The major losers are HDFC Bank (3.84%), ICICI Bank (3.76%), SBI (1.80%) and PNB (1.51%).

BSE Oil & Gas index was trading 354.72 points lower at 11,279.66 as ONGC (4.93%), GAIL (3.89%), RPL (3.14%) and HPCL (3%) are trading lower.

BSE Health Care index decreased by 51.66 points to trade at 3,805. Leading the loss are Ranbaxy (1.85%), Cipla (0.56%), Dr. Reddy (0.50%) and GSK (0.39%).BSE IT index down by 106.63 points to trade at 4,146.62 as Infosys (3.76%), Satyam (2.81%), Wipro (2.61%) and HCL Technologies (1.66%) are trading lower.

Satyam is planning to open a software development centre in Madurai. The company has also planned to set up at least eight Special Economic Zones (SEZs) for IT and ITeS companies in the near future across the State.

BSE Auto index declined 123.94 points to trade at 5,083.27. Leading to it lower are Mahindra & Mahindra (3.36%), Bajaj Auto (2.63%), Tata Motors (1.87%) and Maruti Suzuki (1.41%).