Equity indices trade flat on derivatives expiry day

Despite broadly positive global cues, key Indian equity indices traded on a flat note with marginal losses during the mid-afternoon session on Thursday.

Volatility was induced in the markets on the day of September derivatives expiry as investors booked profits in oil and gas, consumer durables and banking stocks.

At 1 p.m., the wider 51-scrip Nifty of the National Stock Exchange (NSE) traded at 9,715.70 points -- down 20.05 points or 0.21 per cent.

The 30-scrip Sensitive Index of the BSE, which opened at 31,216.36 points, traded at 31,138.68 points -- down 21.13 points, or 0.07 per cent.

The Sensex has so far touched a high of 31,283.92 points and a low of 31,081.83 points during intra-day trade.

"The BSE Sensex opened lower on Thursday against the previous session's closing. The broader NSE's Nifty, too, fell in the morning hours," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

"Top gainers on the NSE were Dr. Reddy's Lab, ACC and ITC, while top losers were Asian Paints, India Bulls Housing Finance and BPCL."

On Wednesday, the benchmark indices tumbled for the seventh consecutive session and closed deep in the red, as caution ahead of futures and options (F&O) expiry, coupled with a weak rupee, hampered investors' risk-taking appetite.

The Sensex closed at 31,159.81 points -- down 439.95 points, or 1.39 per cent, while the Nifty fell by 135.75 points or 1.38 per cent, to close at 9,735.75 points.

--IANS

ppg/bg