Sensex hovers around 33K, Nifty flat ahead of F&O expiry

Mumbai: The BSE Sensex fell by 79 points to trade below the 33,000 level in a volatile trade following profit booking in telecom, FMCG, finance, banking and consumer durables sectors ahead of expiry of October derivative contracts later on Thursday.

The 30-share Sensex resumed lower at 33,025.17 and hovered in a range of 33,074.91 and 32,835.06 in morning trade. It was trading at 32,963.21 at 1100 hrs, down by 79.29 points or 0.24 percent.

While, the NSE 50-share Nifty was trading flat, down by 8.80, or 0.09 percent to 10,286.55.

Among secondary indices, the S&P BSE Mid-Cap index rose 0.25 percent and the S&P BSE Small-Cap index gained 0.49 percent. Both the indices outperformed the Sensex.

Major losers were ICICI Bank 2.50 pct, HDFC 2.24 pct, Powergrid 1.90 pct, Dr Reddy 1.08 pct, Hindunilver 1.01 pct and TataMtrDvr 0.72 pct.

However, Larsen rose 2.70 pct followed by Cipla 2.05 pct, Kotak Bank 1.21 pct and Axis Bank 1.05 pct.

Foreign portfolio investors (FPIs) bought shares worth a net Rs 3582.50 crore yesterday, as per provisional data released by the stock exchanges.

Domestic institutional investors (DIIs) sold shares worth a net Rs 155.71 crore.

Globally, Asian stocks were mixed after Wall Street shares pulled back from record highs overnight.

US stocks fell yesterday, on a batch of soft quarterly earnings, with the Dow Jones Industrial Average suffering its worst day in seven weeks after rising to a record peak the previous session.

-- Rupee still firm at 64.76 Vs dollar --

The rupee continued to remain firm, still up by 13 paise to 64.76 against the US currency on sustained selling of the greenback by banks and exporters in view of weak dollar overseas.

Earlier, the rupee opened higher by 10 paise at 64.79 per dollar as against yesterday's closing level of 64.89 per dollar at the Interbank Forex Market (FOREX).

The Indian unit hovered between 64.80 and 64.72 per dollar during morning deals, it was quoting at 64.76 per dollar at 1120 hrs.

The euro inched higher early today, as investors awaited details of the European Central Bank's plans for scaling back its bond-buying stimulus program, while the dollar took a breather after its recent rally.

The dollar's index against a basket of six major currencies, stood at 93.56, having retreated from yesterday's intra-day high of 94.00.