Profit booking sets in; Sensex down 130 points

Weak opening of European markets triggered selling in index heavyweights like HDFC, Reliance and ONGC. However, midcaps and smallcap indices held on their fort.
At 12:45 pm, Bombay Stock Exchange’s Sensex was at 14,526.71, down 130 points or 0.89 per cent. The index touched a high of 14725.94 and low of 14503.51.
National Stock Exchange’s Nifty at 4,370.65, down 42 points or 0.97 per cent. It touched a high of 4436.15 and low of 4362.90.
BSE Midcap index was up 1.17 per cent at 5,708.63 and BSE Smallcap index was up 1.15 per cent at 7,060.53.
TCS (down 3.07%), HDFC (2.80%), BHEL (2.29%), Reliance (2.20%), ONGC (1.97%) were amongst the major Sensex losers.
Maruti Suzuki (up 1.45%), SCS (1.06%), Grasim Industries (0.91%) and Tata Power (0.52%) were the few Sensex gainers.
Market breadth was positive on the BSE with 1650 advances and 808 declines.
European market opened weak as oil prices began to rise. FTSE was down 0.29 per cent, CAC 40 declined 0.42 per cent and DAX was lower by 0.59 per cent.
Crude oil prices climbed to $126.35 per barrel on supply disruption fears on account of storm in Gulf of Mexico and US’s stand on Iran’s nuclear power plans. Avdhoot Investment