Mumbai: Upcoming derivatives expiry, coupled with caution over chances of an interest rate hike in the US, subdued Indian equity markets during early hours of trade on Thursday. This led to a barometer index of the Indian equity markets to trade flat.
Caution over the upcoming rate-setting meeting of the US Fed dented investors sentiments. The US Fed’s FOMC (Federal Open Market Committee) meet is scheduled for January 27-28.
Even, concerns over the roll-over figures from the upcoming F&O (Futures and Options) expiry subdued sentiments.
Lower volumes and continuous selling by foreign investors halted markets attempts to rise higher.
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However, international cues from Asian markets were positive, as indices in the regional traded in the green.
Besides, a bounce back in the crude oil prices which stood at over $30 per barrel capped losses.
The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was trading flat — marginally higher by just two points, or 0.01 percent during the early morning trade session.
Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading flat. It inched-up by 2.20 points, or 0.03 percent, at 7,435.55 points.
The S&P BSE Sensex, which opened at 24,481.86 points, was trading at 24,494.54 points (at 9.25 a.m.) – up 2.15 points or 0.01 percent from the previous day’s close at 24,492.39 points.
The Sensex has so far touched a high of 24,529.64 points and a low of 24,400.52 points during the intra-day trade.
The Sensex had closed the previous session on January27, up by just 6.44 points, or 0.03 percent, while the Nifty inched up by two points or 0.02 percent.