Markets open flat, broader markets outperform

The market will remain volatile in the near future as traders roll over positions in the futures & options

Markets are trading volatile in the opening trades with Sensex and Nifty making swings between negative and positive zone.  

By 9:30, the Sensex was higher by 24 points at 19,945 mark and the Nifty was up by 8 points at 5,902 levels.

The market will remain volatile in the near future as traders roll over positions in the futures & options (F&O) segment from September to October series. The September F&O contracts will expire tomorrow.

Asian shares slipped and the dollar inched higher in early Asian trade on Wednesday, as concerns about a possible US government shutdown and uncertainty about the US Federal Reserve's policy outlook made investors hesitant to take aggressive positions.

MSCI's broadest index of Asia-Pacific shares outside Japan slipped about 0.1%, while Japan's Nikkei stock average was down 0.2%.

Back home, BSE Realty, Capital Goods, Auto and Power indices have gained by nearly 1% each. However, BSE Oil & Gas index has declined by 0.5%.

The main gainers on the Sensex at this hour include BHEL, Tata Power, Tata Motors, Hero Moto, L&T, Sesa Goa and Maruti Suzuki.

On the losing side, Bharti Airtel, Coal India, RIL, Dr Reddy’s and M&M have slipped by 1% each.

Financial Technologies (India) has tanked nearly 15% to Rs 142 in early morning trades on NSE after the company said that its statutory auditor Deloitte, Haskins & Sells has withdrawn its certificates about the genuineness of the company's results for 2012-13 which the firm had audited and cleared earlier.

The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices have gained between 0.2-0.3%.

The market breadth in BSE remains positive with 480 shares advancing and 233 shares declining.