Sensex, Nifty Open Flat; Tata Steel, ITC Top Gainers, Kotak Mahindra Weak

On the global front, Asia-Pacific shares traded lower on Thursday morning as investors reacted to the release of Chinese factory activity data for September

Sensex, Nifty Open Flat; Tata Steel, ITC Top Gainers, Kotak Mahindra Weak

Powergrid, Bajaj Auto and Kotak Mahindra Bank are trading with losses of around a per cent each

The domestic stock markets have opened mildly in the red, extending the losses of the previous day, ahead of derivatives expiry. At 9:18 am, the BSE Sensex is trading at 59,358.50, lower by 80 points or 0.31 per cent and the NSE Nifty is at 17,688.50, down 26 points or 0.1 per cent. The broader indices are outperforming their largecap counterparts, with the BSE Midcap index and BSE Smallcap index gaining 0.5 per cent and 0.8 per cent respectively.

The markets are likely to be volatile during the day on account of expiry of September F&O series, according to analysts.

On the global front, Asia-Pacific shares traded lower on Thursday morning as investors reacted to the release of Chinese factory activity data for September. Nikkei 225 slipped 0.67 per cent, Topix declined 0.65 per cent and Kospi dipped 0.17 per cent.

The Dow and the S&P 500 index recovered some lost ground overnight due to gains in defensive shares and Boeing, after concerns over inflation and rising treasury yields sparked one of Wall Street's worst selloffs this year. The Dow Jones ended higher by 0.30 per cent at 34,402.29 and S&P 500 was up 0.16 per cent at 4,359.53; the Nasdaq Composite, however, ended down 0.26 per cent at 14,509.17.

On the stock-specific front, Dr Reddy's, L&T, Tata Steel and IndusInd Bank have gained up to a per cent each on the BSE. Sun Pharma, Bajaj Finserv and ITC are the other significant gainers on the BSE.

On the other hand, Powergrid, Bajaj Auto and Kotak Mahindra Bank are trading with losses of around a per cent each on the BSE.

The BSE market breadth is weak. Out of 2,754 stocks traded on the BSE, there are 1,891 advancing shares as against 729 declines.