Sensex ends flat ahead of F&0 expiry, IT stocks fall

Indian markets ended absolutely flat today as investors were cautious ahead of ahead of expiry of November derivatives contracts on Thursday.

The benchmark BSE Sensex fell 0.02 percent, while the broader Nifty ended lower 0.03 percent, marking their second consecutive day of declines.

Software services exporters such as Infosys were hit by a strengthening rupee, with sentiment also remaining weak due to recent selling by foreign investors.

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Infosys fell 0.69 percent, while Tata Consultancy Services Ltd also ended 0.36 percent lower.

Yogesh Radke, Head of Quantitative Research at Edelweiss Securities believes tomorrow’s expiry will see some downward pressure, which will continue in the December series.

According to him, if the Nifty breaks 6000 levels, it can touch 5,850 level and perhaps fall further to 5,750 level, depending on the outcome of the state elections. He said at the moment, the market is seeing only short-side aggression. “We are finding short side aggression to get rolled and that is the reason we are seeing some amount of lackluster rollovers in Bank Nifty,” Radke told CNBC-TV18.

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