Sensex Opens Flat On First Day of June F&O Expiry

Updated: Friday, June 1, 2018, 9:45 [IST]

Indian equities opened marginally higher on the first trading session of June derivatives series, thanks to a solid GDP data.

The Sensex was trading with gains of 61 points, while the Nifty gained 12 points in trade. Shares in Idea Cellular were trading higher after the company completed sale of 9,900 standalone towers to ATC for Rs 4,000 crore.

Banking shares were seeing a solid rally with ICICI Bank jumping a huge 4 per cent in early trade.

Sensex Opens Flat On First Day of June F&O Expiry

Shares in Manpasand Beverages which were locked at the lower end of the circuit filter for four straight days came out from the circuit filter. It maybe recalled that the auditors of the company had resigned citing lack of clarifications from the company.

Overseas, Asian stocks were trading mixed, mirroring weakness in Wall Street, as investor turned cautious amid trade tensions after the US announced tariffs on steel and aluminum imports would be reapplied on Mexico, Canada and the European Union. However, the easing political crisis in Italy gave some respite to investor.

On the economy front, India's GDP grew at seven quarters high of 7.7 per cent in January-March period, boosted by government spending and investment.

Meanwhile, weak performance of BJP in Bypoll and Donald Trump's new trade barriers may weigh on market sentiment. On the sectoral front, shares of auto stocks will remain in focus as they will start releasing their monthly sales numbers.