At 11:34AM, the S&P BSE Sensex is trading at 27,822 up 120 points, while NSE Nifty is trading at 8,354 up 30 points.
The BSE Mid-cap Index and BSE Small-cap Index was trading flat.
Auto, Power, Banking, Healthcare, IT, Capital goods, FMCG indices are the gainers, while Metal, Oil and gas, Realty,Consumer Durables indices are losers.
Tata Motors, Axis Bank, L&T, Bajaj Auto, M&M, Bharti Airtel are among the gainers, whereas Hindalco, Coal India, DRREDDY, Wipro, ONGC are losing sheen on BSE.
Global cues may not really offer much support as investors will look more at how the expiry will pan out. Parliament proceedings will be watched keenly.
There is no major build-up witnessed at any significant strikes in Nifty options. FIIs have sold stocks worth US$1bn over the past 10 trading sessions. The current index futures long/short ratio for FIIs has reduced to 3x as against 14.5x in the start of the December expiry.
Data on the US economy will be eyed later in the day. The Dow Jones added 0.87%, the S&P 500 gained 0.38% and Nasdaq Composite gained 0.34%. Asian shares are mixed. Hong Kong's Hang Seng index is up while China's Shanghai is down over a percent.
Gold struggled to get past overnight losses, trading near its lowest in three weeks.Oil prices were down, after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price. Brent closed down $1.27, or 2 percent, at $60.11 a barrel.
Deadline to exchange pre-2005 currency notes ends on Jan 1
There are only 10 days left for the People to exchange CURRENCY notes of various denominations, including 500 and 1,000, which were printed before 2005.The deadline for exchanging the pre-2005 notes is January 1, 2015.
Shares of Crompton Greaves was down 1% at Rs181 on reports that Avantha Holdings picked up 1.15 crore shares of Crompton Greaves for over Rs 211 crore through open market route.
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