Markets choppy at lower levels; Lupin gains 3%, ONGC dips

Benchmark indices are trading in a narrow range with negative bias as investors have turned cautious ahead of September F&O expiry.

By 10:45 am, the Sensex was lower by 76 points at 25,747 and the Nifty dipped 13 points at 7,833.

The top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.

On the gaining side, Lupin, Infosys, Cipla, Maruti Suzuki and Bajaj Auto are up 1-3%.

Markets have started the session on a lower note ahead of the expiry of the September F&O series.

By 10:10 am, the Sensex was lower by 100 points at 25,723 and the Nifty dipped 25 points at 7,821.

The broader markets are however, outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.4% each.

The market breadth remains positive with 518 gainers and 317 losers on the BSE.

According to Angel Broking's report, "The trend deciding level for the day is 25,714 / 7,817 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 26,043 – 26,262 / 7,911 – 7977 levels. However, if NIFTY trades below 25,714 / 7,817 levels for the first half-an-hour of trade then it may correct towards 25,495 – 25,167 / 7,752 – 7,658 levels."

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 1330.12 crore yesterday, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 891.36 crore yesterday, as per provisional data.

In the currency, the rupee fell further 24 paise to 66.22 against the US dollar in early trade on sustained month-end demand for the American currency overseas amid foreign fund outflows.