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Thursday, August 30, 2007

Market to stay volatile on August 2007 Futures & Options expiry


Market is expected to see volatility today, 30 August 2007, as derivative contracts for August 2007 series expire. The BSE 30-shares Sensex advanced 73.85 points or 0.50% at 14,993.04, on Wednesday, 29 August 2007.

From the recent low of 13,989.11 on 21 August 2007, the Sensex has recovered 1004 points to current 14,993.04.

The S&P CNX Nifty rose 38.60 points or 0.89% at 4,359.30, on Wednesday, 29 August 2007.

As per reports, the marketwide rollover from August 2007 series to September 2007 series stood at 64.7% as compared to 60% during the July 2007 expiry. Nifty rollover was 64% as against 61% in July 2007 series.

Asian markets were trading higher today, 30 August 2007. Hang Seng (up 1.85% at 23,445.79), Japan's Nikkei (up 1.29% at 16,218.95), Taiwan Weighted (up 1.82% at 8,800.40), Singapore's Straits Times (up 1.11% at 3,371.79) and South Korea's Seoul Composite (up 1.03% at 1,845) edged higher.

US stocks rallied across the board Wednesday, 29 August 2007 boosted by strong gains in technology and energy shares. The Dow Jones Industrial Average surged 247 points, or 1.9%, at 13,289. The S&P 500 index rose 31 points, or 2.2%, at 1,463 and the technology-laden Nasdaq Composite rallied 62 points, or 2.5%, at 2,563 points.

As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 163.73 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 65.48 crore on Wednesday, 29 August 2007.

Crude oil prices steadied on Thursday, 30 August 2007. US crude inched up 2 cents to $73.53 a barrel.