Live: September Options Close with 9 Percent Gains; BSE Sensex Ends Marginally Higher

Burnham Moved to another Position or Demoted3.30 pm IST: After staying positive for most part of the trading session, BSE Sensex closed with gain of 37 points at 19893. Market experts believe that Indian market could see correction of 6-8 percent in coming days. The September series closed with impressive nine percent gain as US Federal Reserve announced continuation of fiscal stimulus.

In today’s session, major gainers were BHEL, Tata Steel, Coal India, JP Associates, Sun Pharma, HDFC Ranbaxy Labs, ITC, BPCL and ICICI Bank. Major losers included Jindal Steel, Grasim, GAIL, Ambuja Cements, PNB, Reliance, Power Grid, Sesa Goa, HCL Tech and SBI.

Among sectors, capital goods, FMCG, healthcare and metals closed positive while consumer durables and energy stocks closed lower.

Indian currency gained compared to USD. Indian rupee has been trading in smaller zone between 61.70 – 62.90 range for last few trading sessions. Euro/ INR was at 83.77.

Market experts have given buy calls for Tata Motors, Cipla, Idea Cellular and Ambuja Cements. Asian Paints sell calls has been given by Sudarshan Sukhani based on technical charts.

European markets were marginally lower with DAX, CAC and FTSE, all in negative zone.

12.52 pm IST: Indian market was trading higher marginally with BSE Sensex up by 16 points and NSE Nifty up by 0.1% at 5878. Indian markets are trading in small range and most Sensex stocks have not witnessed any big move in past two trading sessions.

Among major gainers were Tata Steel, Coal India, Sun Pharma and JP Associates. Among major losers were Jindal Steel, GAIL, Power Grid and HUL. Among sectors automobiles, banks, capital goods and healthcare were positive. Energy stocks, FMCG and consumer durables were trading lower.

Indian markets are waiting for cues from global markets. The movement on either side will depend on the conditions of world markets. Indian traders have booked profit after the recent rally in markets and for past few sessions, we have seen much lower volatility.

Among Asian markets, only Nikkei 225 was up by 1.22%. European markets are expected to stay range-bound.

Isha Sondhi and Kunal Mishra report live markets from Mumbai, India during market trading hours.