Sensex Trades Marginally Higher; Asian Stocks Fall

Business

oi-Sunil Fernandes

By Sunil Fernandes

Published: Wednesday, September 28, 2016, 9:45 [IST]

Benchmark indices opened the day higher, after falling for two consecutive days, though most Asian markets dropped lower.

The Sensex was trading with gains of 7 points, while the Nifty was marginally up by 10 points in trade.

The domestic bourses may see heightened volatility as traders roll over their positions ahead of the September futures & options (F&O) contracts expiry tomorrow. Caution is also likely to persist ahead of the upcoming monetary policy review of the RBI on Tuesday with a 25 basis points cut in interest rates a possibility given the dip in consumer inflation to below the upper tolerance limit of the government"s annual inflation target of 4 per cent plus or minus 2 percentage points.

Top gainers from the Sensex were Axis Bank, Tata Steel, Coal India, Bajaj Auto, Larsen and Toubro, Gail and Dr Reddy's.

Heavyweight, Reliance Industries, which hit a 52-week high on Tuesday saw some selling pressure and lost ground in trade.

Meanwhile, FIIs on 27/09/2016 stood as net sellers in equity and net buyers in debt. Gross equity purchases stood at Rs 4,413 crores and gross debt purchases stood at Rs 1,764 crores, while the gross equity sold stood at Rs. 4557 crores and gross debt sold stood at Rs 636 crores.

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