Derivatives expiry may cause high volatility

The market is expected to swing sharply today, 28 June 2007, as derivatives contracts for June 2007 series expire today. Rollover from Nifty June 2007 series to Nifty July 2007 stood at 48.29%, till Wednesday, 27 June 2007.

The BSE 30-share Sensex lost 70.02 points or 0.48% at 14,431.06, on Wednesday, 27 June 2007.

Asian markets were trading strong today, 28 June 2007. Hong Kong’s Hang Seng index surged 1.18% at 21,962.51 while Japan's Nikkei gained 0.52% at 17,942.43. Taiwan's Taiwan Weighted (up 0.26% at 8,867.23), Singaopre’s Straits Times (up 0.64% at 3,527.99) and South Korea's Seoul Composite (up 0.62% at 1,743.92), also logged gains.

US stocks rose on Wednesday, 27 June 2007 as investors snapped up beaten-down shares after a three-day slide and a nearly 2% jump in oil prices boosted demand for energy companies' shares.

The Dow Jones industrial average was up 90.07 points, or 0.68%, at 13,427.73. The Standard & Poor's 500 Index was up 13.45 points, or 0.90%, at 1,506.34. The Nasdaq Composite Index was up 31.19 points, or 1.21%, at 2,605.35.

As per provisional data, FIIs were net sellers of equities to the tune of Rs 567.33-crore while domestic institutional investors (DIIs) bought shares worth a net Rs 244.10 crore on Wednesday, 27 June 2007