Reliance is up 3 percent while HDFC Bank, Dr Reddy’s Labs, Wipro and HUL are top gainers in the Sensex. Among the losers are Coal India, HDFC, Bharti Airtel, Sun Pharma and ICICI Bank.

Shares of both HDFC Bank and Lupin jumped 2 percent intraday on hopes of raking in more foreign moolah. The private bank has got Cabinet Committee on Economic Affairs’ (CCEA) nod to raise up to Rs 10000 crore via foreign investment and is allowed to limit foreign holding in the company upto 74 percent of the total paid-up capital. Meanwhile, Lupin touched record high at Rs 1539 per share as the CCEA has allowed itto increase in FIIs investment limit to 49 percent from 33 percent, which would result in foreign investment of around Rs 6099 crore in the country.

Investors are trading cautiously as January F&O series expires today. The Sensex is down 105.74 points at 29453.44 and the Nifty is down 31.00 points at 8883.30. About 1208 shares have advanced, 1025 shares declined, and 235 shares are unchanged. Reliance is up 3 percent while HDFC Bank, Dr Reddy’s Labs, Wipro and HUL are top gainers in the Sensex. Among the losers are Coal India, HDFC, Bharti Airtel, Sun Pharma and ICICI Bank. Asian markets are lower following the weaker close of the US markets.

Gold steadied above USD1,280 an ounce after the US Federal Reserve reiterated it would be patient in deciding when to raise interest rates, keeping bullion trading in recent ranges. Spot gold was nearly flat at USD1,284.91 an ounce by 0034 GMT, not far below a five-month top of USD1,306.20 reached last week. The Federal Open Market Committee said that it would take “financial and international developments” into account when determining when to raise rates, adding a reference to global markets for the first time since January 2013.

Coustery : http://www.moneycontrol.com/news/local-markets/traders-cautiousfo-expiry-nifty-weak-reliance3_1286631.html

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