Thursday, October 31, 2013

Sensex trades flat amid expiry volatility

The BSE Sensex and the broader Nifty were trading flat on caution ahead of the expiry of October derivatives contracts at the end of the session.

The Sensex was up 12 points at 21,045, around 150 points away from its all-time high of 21,206. Nifty was almost unchanged at 6,252.

Still, domestic shares are headed towards their highest monthly close on strong foreign investor flows. The BSE index is up 8.5 percent in October, also heading towards its biggest monthly gain since January 2012.

Foreign investors were net buyers for a 19th consecutive session on Wednesday, bringing their total buying to nearly Rs. 16,000 crore.

Dr.Reddy\'s Laboratories Ltd fell 1.3 percent on profit-taking after hitting a record high of 2,545.15 rupees in early trade. Infosys Ltd fell 0.4 per cent after the company agreed on Wednesday to pay $34 million to end a U.S. investigation related to the widespread practice by Indian firms of flying workers to client sites in the United States on temporary visas.

However, Bharti Airtel Ltd gained 1.1 percent, adding to Wednesday\'s 5.5 percent rise after its September-quarter operating margin grew 32 percent.

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