The market is rangebound as investors are on wait and watch mode ahead of F&O expiry. The Sensex is up 46.89 points or 0.2 at 28037.10, and the Nifty up 9.50 points or 0.1 percent at 8642.10. About 1392 shares have advanced, 815 shares declined, and 145 shares are unchanged.
Lupin, TCS, HUL, Coal India and ITC are laggards while Maruti, NTPC, Cipla, Infosys and Sun Pharma are gainers in the Sensex.
Oil fell after industry data showing an increase in US crude stocks added to oversupply worries and traders took advantage of a recent rally to book profits.
Prices had closed higher on news that Iran was willing to join calls by OPEC and Russia for production curbs after scuttling previous efforts to reach a deal in April.
But the gains were reversed in Asian trade after data from the American Petroleum Institute (API) overnight showed US crude inventories rose by 4.5 million barrels in the week ending August 19, after falling by one million barrels the week before.
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