Auto, metal, telecom and upstream oil companies supported the markets. But sell-off in ICICI Bank, SBI, Ranbaxy, HDFC, Tata Power, Wipro and Hindalco capped the upside in the benchmark indices.
Markets trading lower despite inflation
Despite inflation, the markets continue to trade lower. The Sensex was trading at 8,829, down 72 points and the Nifty was at 2,741, down 21 points, at 11.59 hours IST. Among broader indices, BSE Midcap slipped 0.3 pc and Small Cap index was down 0.6 pc.
Nifty February Futures will close on Thursday, Feb 26 and is flat in trade. Nifty March Futures is trading with 22-24 points discount. Dealers said the F&O expiry pressure is expected in the second half. They expect expiry at around 2750-2800 levels.
Indian markets open marginally lower
The Bombay Stock Exchange's benchmark index Sensex and National Stock Exchange's Nifty opened marginally lower on Thursday, Feb 26 marginally lower in the early trade amid some volatility ahead of F&O expiry.
At 9:56 am, the Sensex was trading at 8,843, down 59 points and the Nifty was at 2,748, down 14 points. CNX Midcap was flat.
Major stocks which gained in the opening trade are L&T, Cairn, Tata Motors and Siemens while HDFC, DLF, Ranbaxy Labs, Tata Steel, Maruti, M&M, Ambuja Cements, Infosys and Reliance Industries witnessed a downturn.