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Nifty, Sensex choppy on Future and Option expiry

Stock Markets traded with a negative bias with broad-based selling seen across the market. Sensex sheds 218.10 pts at 36,324.17 and the Nifty50 settled September Future and Option (F&O) series at 10,977.55.  All sectoral indices on the Nifty, except IT index, closed in the red.

Bank Nifty also under-performed and ended the day 1.32 percent lowers at 25,042. Yes Bank faced heavy selling pressure and ended the day 9.01 percent lower at Rs 203.60

Nifty IT index emerged to be the single gainer rising 0.54 percent up at 16,018 with TCS, Oracle Financial and Infosys as major components, rising up to 2 percent.

Bharti Infratel, TCS, UltraTech were among major gainers on the NSE, whereas major losers were Yes Bank Indiabulls HF, Bajaj finance and Bajaj Finserve.

Volatility on the back of F&O expiry was the main feature of Thursday’s trade, as traders squared off their contracts positions on the expiry of Sept series F&O.

The oil prices surged over 1 percent today. Brent crude December-futures contract was up at USD 81.38 a barrel.