Sensex, Nifty, Midcap volatile; IGL, HPCL, SBI most active

Moneycontrol Bureau12:55 pm FIIs investment: FIIs on Monday were sellers for the first time last 29 consecutive trading sessions. They sold around Rs 300 crore worth of shares yesterday after more than Rs 19,600 crore worth of buying in previous 28 sessions.

Some profit booking is warranted as they have been pumping in money in India since March. From March to August, FIIs purchased more than Rs 54,000 crore worth of shares while the Sensex rallied nearly 22 percent.12:40 pm Europe Update: European stocks opened slightly higher with markets in wait and see mode ahead of a speech on Friday by Federal Reserve chair Janet Yellen at Jackson Hole that could give clues about the timing of a US interest rate hike.

The pan-European STOXX 600 was up 0.37 percent in early trade.

Tentative trade in Asia, where major indices were mixed, wasn't carried into Europe sentiment was more positive amid a lack of earnings and major data releases which is causing investors to pause for breath.12:20 pm Interview: Adani Ports is targetting a fourfold increase in capacity to 100 milion tonnes at its Dhamra port over the next four years, GJ Rao, Director, Adani Ports told CNBC-TV18.Adani's Ennore and Vizhinjam ports are currently under construction and will start operations in October and December respectively, Rao said. It currently has 8 operating ports.Adani is also one of the pre-qualified bidders in Bhavanapadu Port in Andhra Pradesh, he said.Also read - Plan to add more capacity, raise Rs 30,000 crore in FY17: NTPC12:00 pm Market Check

Consolidation continued for the second consecutive day due to lack of triggers. Globally investors waited for Federal Reserve Chief Janet Yellen's speech at Jackson Hole.

The 30-share BSE Sensex was down 17.62 points at 27967.92 and the 50-share NSE Nifty fell 5.90 points to 8623.25. About 1241 shares advanced against 1137 declining shares on the BSE.HPCL, Indraprastha Gas, SBI, HDFC, ONGC, Glenmark Pharma, Infosys and India Cements were most active shares.

Oil prices fell, with Goldman Sachs warning that August's price rally had been overdone and that a proposed oil production freeze at current near-record levels would not help rein in an oversupplied market. International Brent crude oil futures were trading at USD 48.83 per barrel, down 0.67 percent, from their last close.

US West Texas Intermediate (WTI) crude was down 0.86 percent at USD 47.00 per barrel.