Markets open lower on lack of positive cues from the global markets and investors becoming jittery ahead of futures and options expiry on Thrusday. The Sensex has dipped 85 points to 20,145 and the Nifty has fallen 21 points to 6061.
Asian markets were trading mixed in the morning session as there was no clear direction from the US bourses. US markets ended flat as traders were skittish ahead of US election next week and announcement of quantitative easing two by the Fed.
Yen surge eased, giving some respite to the exporters in Tokyo, Japan's Nikkei Stock Average surged 0.7% in the morning session. Property and banking shares climbed higher in Hong Kong, Heng Seng was up 0.1%. China's Shanghai Composite was down 0.2%, Seoul Composite and Taiwan Weightend were marginally lower, down 0.2% each.
Markets have not made any decisive moves on back of derivates expiry on Thursday, although rollovers have been decent. Gaurang Shah, Assistant Vice President, Geojit BNP Paribas Financial Services said, "above average rollover was seen for auto stocks such as Mahindra & Mahindra and Tata Motorsl; Allahabad Bank, Uco Bank and ICICI Bank from banking pack."
"Fertilizer space also saw good rollovers for stocks like United Phosphorous (around 44%). ITC Ltd, Jindal Saw and Sesa Goa have also witnessed a healthy rollover," Shah added.
Prestige Estate made a muted debut, got listed at Rs 190 versus the issue price of Rs 183 per share.
Banking stocks were leading the losses in the morning session, Kotak Bank has dipped 1%, ICICI Bank fell 0.8%, and SBI, down 0.2%.
High beta metal stocks are also on a down hill, Hindalco and Jindal Steel slipped 1%, Sesa Goa has fallen 0.9%.
Wipro, up 1.1%, Power Grid, up 0.8% and Reliance Industries up 0.7% are the top gainers on Nifty.
