Nifty breaks 9700 on F&O expiry day, Sensex mildly lower
Equity benchmarks opened marginally lower on the day of expiry of September derivative contracts.
The 30-share BSE Sensex was down 36.73 points at 31,123.08 and the 50-share NSE Nifty fell 12.25 points to 9,723.50.
ONGC, Aurobindo Pharma, Bharti Infratel and Dr Reddy's Labs were early losers while Tech Mahindra, Wipro, TCS, HCL Technologies and Axis Bank were early gainers.
Nifty Midcap was down 0.14 percent.In broader space, Ipca Labs, DHFL, Reliance Home Finance, ICICI Lombard General and Titan Company were under pressure.
Nifty rollovers were at 45.99 percent versus the lower than 3-month average of 48.78 percent, ICICIdirect said.
Market wide rollover was at 55.26 percent, lower than 3-month average of 57.34 percent.
Highest rollover was observed in DHFL (80 percent), JSW Steel (76 percent), Indiabulls Real Estate (74 percent), Bharat Forge (71 percent) and Bharat Finance (71 percent).
The rupee took more blows today as it slipped 16 paise to a fresh six and a half month low of 65.88 against the dollar that gained clout overseas on talk of a US rate hike and the prospect of monetary stimulus pullout.
The US Fed's policy decision and commentary led to foreign investors heading to the exit door here.Month-end demand from importers for the US currency is at work, forex dealers said.
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