Pre Session- Sensex may open higher on Asian cues; F&O expiry eyed

The key domestic benchmarks are likely to open higher today tracking a positive trend in most Asian markets which rose as a spurt in US new home sales last month signaled optimism over the world’s biggest economy, spurring the appetite for risky assets. US new homes sales climbed 18 per cent to 504,000 annualized pace in August 2014, the highest level since May 2008, the Commerce Department said. China’s Shanghai Composite rose but Hong Seng fell while Japan’s Nikkei 225 surged as a weaker yen boosted the appeal of exporter stocks. Back home, the Sensex may witness heightened volatility today as investors and traders roll over their positions ahead of the futures and options (F&O) September expiry today. The Supreme Court’s decision to cancel almost all coal blocks allocated since 1993 may also weigh on sentiment, curbing gains.