INDIAN BENCHMARKS - The key domestic benchmark indices were trading near the flat line during the morning trading session on Wednesday amid mixed global cues. The traders remained cautious with World Bank chief economist Kaushik Basu stating that the Indian economy is expected to grow at 7 to 7.5% in 2016. However, the gains on the bourses may be curbed as the markets are set to witness volatility as traders roll over their positions ahead of the expiry of the December futures and options ( F&O) contracts on Thursday. Further, foreign portfolio investors may stay on the sidelines amidst the end of the year, weighing on volumes at Dalal Street. At 10:15 am, the Bombay Stock Exchange bellwether Sensex was at 26085.47 up by 5.99 points or by 0.02%, while the NSE Nifty Trading Tips was at 7933.15 points, trading higher by 4.2 points or by 0.055.
The BSE Sensex touched an intraday high of 26130.2 and an intraday low of 26064.72 while the NSE Nifty touched an intraday high of 7944.75 and an intraday low of 7924.35. The top gainers of the BSE Sensex pack were Tata Steel 1.90%, 1.04%, Dr. Reddy's Laboratories 0.895, NTPC 0.62%, Housing Development Finance Corporation 0.57%, among others. Meanwhile, ICICI Bank 0.87%, Reliance Industries 0.53%, Lupin 0.38%, Hero MotoCorp 0.36%, Asian Paints 0.33%, were among the top losers on BSE.The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2197 shares traded, 1284 shares advanced, 741 shares declined while 172 were unchanged.
Globally, the Asian peers were trading mixed today as traders eyed the New Year while an overnight rally at Wall Street lifted financial and technology shares. Meanwhile, US stocks climbed sharply higher yesterday as a rebound in oil prices helped bolster bullish sentiment.
Trend in FII flows: The FIIs were net sellers of Rs 8.49 Cr in the cash segment on Tuesday while the DIIs were net buyers of Rs 6.44 Cr, as per the provisional figures released by the NSE.
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