Equity benchmarks BSE Sensex and NSE Nifty started on a volatile note on Thursday ahead of the expiry of December derivatives contracts amid thin trade in global equities due to year-end holidays. After opening on a positive note, the 30-share BSE index was trading 47.67 points or 0.11 per cent higher at 41,413.59 in morning session. Similarly, the broader NSE Nifty slipped 12.20 points or 0.10 per cent to 12,202.35.
Bharti Airtel was the top loser in the Sensex pack, shedding up to 0.73 per cent, followed by Bajaj Auto, ONGC, RIL, Sun Pharma, Axis Bank, PowerGrid, Infosys and HDFC Bank.
On the other hand, Mahindra and Mahindra was the top gainer, rising up to 1.18 per cent. Tata Steel, Nestle, IndusInd Bank, SBI, Bajaj Finance and HCL Tech were also trading in the green. The market remained shut on Wednesday on account of Christmas.
In the previous session, the 30-share gauge ended 181.40 points, or 0.44 per cent, lower at 41,461.26. Similarly, the Nifty closed 48.20 points, or 0.39 per cent, down at 12,214.55. Meanwhile, on a net basis, foreign institutional investors sold equities worth Rs 114.38 crore, and domestic institutional investors offloaded shares worth Rs 345.22 crore on Tuesday, data available with stock exchange showed.
According to traders, market has turned volatile ahead of the expiry of December futures and options (F&O) contracts. Further, with investor participation turning thin on account of year-end holidays in domestic and global markets, investors are awaiting directional cues, they said. Bourses in Shanghai, Tokyo and Seoul were trading on a positive note.
Brent futures, the global oil benchmark, rose 0.30 per cent to USD 67.47 per barrel. Meanwhile, the rupee appreciated 3 paise to 71.23 against the US dollar in morning session.
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Source: Financial Express