Wednesday, July 30, 2014

Sensex, Nifty flat on July series expiry; ITC, Bharti gain

Markets open flat; Axis Bank, Hindalco dip 1%
Benchmark indices have opened flat with a negative bias on caution ahead of the expiry of July derivative contracts due later in the day.

HCL Tech ’s fourth quarter (April-June) net profit rose 13 percent quarter-on-quarter to Rs 1834 crore, ahead of a CNBC-TV18 poll estimate of Rs 1611 crore. Quarterly revenues were up 1 percent sequentially to Rs 8424 crore, compared to the poll estimate of Rs 84448.2 crore.

The market is flat on July series F&O expiry day. The Sensex is down 34.99 points at 26052.43 and the Nifty is down 15.95 points at 7775.45. About 423 shares have advanced, 295 shares declined, and 37 shares are unchanged.

The Indian rupee has opened lower at 60.24 a dollar, down 18 paise compared to previous day's closing value of 60.06 per dollar.Mohan Shenoi, Kotak Mahindra Bank said FOMC policy decision was in-line with market expectation.

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