Sept F&O expiry pressures may weigh on market; global cues firm

Moneycontrol Bureau Expiry related pressures may weigh on Indian bourses while global cues are firm as race for White House intensifies. The market is likely to be volatile ahead of September Futures and Options (F&O) expiry. Experts say the Nifty could test 8500-8550 if it breaches 50 DMA. On Tuesday, the 30-share BSE Sensex was down 70.58 points at 28223.70. The 50-share NSE Nifty breached 8700 level intraday but managed to hold that level, down 16.65 points to end at fresh 2-week closing low of 8706.40.

Manpasand Beverages has launched a Rs 400 crore rupees qualified institutional placement (QIP) with an option to upsize by Rs 100 crore. Floor price is set at Rs 716.09 per share, 3.5 percent discount to yesterday's close price.

Among global peers, Asian stocks edged up early following an overnight rise for US stocks, while reduced hopes that a meeting of major producers would reduce a oversupply weighed heavily on crude oil prices.MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent. Australian stocks were up 0.5 percent while South Korea's Kospi was flat. Japan's Nikkei was last down 1.1 percent.Overnight, the Dow rose 0.7 percent and Nasdaq added 0.9 percent. A perceived win by Democrat Hillary Clinton over Republican Donald Trump at the first presidential debate gave broader support to equities, although sliding oil prices were a drag on the energy sector.Oil fell about 3 percent on Tuesday after Saudi Arabia and Iran dashed market expectations that the two major OPEC producers would find a compromise this week at a meeting in Algiers to help ease a global glut of crude.The currency stood little changed at 19.38 pesos to the dollar, having rallied on Tuesday from a record low of 19.92 hit earlier on worries that a Trump win would threaten Mexico's exports to the United States. The 10-year US Treasury note yield hovered near a three-week low of 1.546 percent touched overnight amid speculation that Europe's banking woes could delay the Fed's next interest rate hike.

Gold fell as the dollar and stocks gained ground on the view that US Presidential candidate Hillary Clinton got the better of rival Donald Trump in their first debate.