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Chinese markets, F&O expiry driving volatility; Sensex down
Highlights
Uncertainty over the Chinese markets, profit bookings and the upcoming derivatives expiry flared-up volatility in the Indian equity markets -- leading to a barometer index trading 82 points down during the mid-afternoon trade session on Wednesday.
Uncertainty over the Chinese markets, profit bookings and the upcoming derivatives expiry flared-up volatility in the Indian equity markets -- leading to a barometer index trading 82 points down during the mid-afternoon trade session on Wednesday.
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The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 26,063.27 points, was trading at 25,950.28 points (at 2.00 p.m.) -- down 82.10 points or 0.32 percent from its previous close at 26,032.38 points.
The Sensex touched a high of 26,156.61 points and a low of 25,687.69 points during intra-day trade so far.
Bearish sentiments also subdued trade at the National Stock Exchange (NSE). The broader 50-scrip CNX Nifty of the NSE was lower at 7,863.05 points, with mild losses of 17.65 points, or 0.22 percent.
Analysts point out that the investor sentiments were subdued due to the uncertainty over the Chinese markets and the upcoming futures and options (F&O) expiry on Thursday.
"The markets are volatile. There is uncertainty over the next move of the Chinese government to stabilise their markets. Prices have risen and the investors are in a fix to chase them given the global uncertainties at hand," Anand James, co-head, technical research, Geojit BNP Paribas, told IANS.
"The derivatives expiry tomorrow is also adding volatility and anxiety. Though a scheduled event, at this stage it is one of the most important factors to look out for."
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