THE BENCHMARK Sensex of Bombay Stock Exchange is down by 98 points in early trade in the last session before current month expiry in the derivatives segment, amid concerns about Q2 earnings from corporates in view of global economic uncertainty.
Volatility may surge today as traders roll over positions in the futures & options (F&O) segment from the near-month September, 2011, series to the October, 2011, series. The near-month September, 2011, derivatives contracts expire today.
The 30-share Bombay Stock Exchange index resumed lower at 16,387.91 and hovered in a range between 16,394.86 and 16,316.66 before quoting at 16,347.92 at 1015 hours, translating into a net loss of 98.10 points, or 0.60 per cent, vis-a-vis its last close.
The National Stock Exchange`s 50-share Nifty index also fell by 28.80 points or 0.58 per cent, to 4,917.10 at 1015 hours.
The major losers in early trade were Tata Motors (down 2.66 per cent), SBI (2.58 per cent), Sterlite Industries (2.42 per cent), Larsen & Toubro (2.35 per cent), DLF (2.25 per cent) and Hindalco Industries (2.05 per cent).
Meanwhile, Asian stocks were mixed in early trade amid persistent worries about Europe`s debt woes.
The key benchmark indices in Singapore, Japan and China were down by between 0.33 per cent and 0.83 per cent, while the indices in South Korea, Indonesia and Taiwan were up by between 0.10 per cent and 0.80 per cent.
