Flat expiry day; Nifty may close around 5700

It has been a very quiet expiry day so far and there is not much by way of volatility, said Udayan Mukherjee, Managing Editor of CNBC-TV18.

The Nifty has been spending time in a fairly narrow range since it opened up around the 5,700 mark this morning. It appears that October series expiry would be around the 5,700 mark. It would make for a flat series in October after the big jump that was seen in the September series.
However, it would still be up 1 percent if it closed around the 5700 level at the Nifty. In terms of consolidation, it is not a bad outcome but, there are some very big moves in individual names today, in stocks like IRB Infra, which have collapsed and Peninsula Land which has shot up once again. In terms of midcap stocks, there were some momentous moves but, for the index itself it has been very rangebound since it started trade this morning.