Asian stocks opened on a flat note today in subdued trade, with few fresh market-moving events after a holiday for US bourses.

The Nikkei rose by 0.1% while the Hang Seng was up by 0.1%. The Shanghai Composite is trading higher by 0.5%.

US markets were closed on Monday on account of the Labor Day holiday.

US stocks had closed last week on a negative note on Friday, as early gains from a jobs report that showed a labor market that may be starting to loosen gave way to worries about the European gas crisis.

The Dow Jones fell by 1.1% while the tech-heavy Nasdaq ended lower by 1.3%.

US futures are indicating a positive opening for US indices today.

Back home, Indian share markets are trading on a flat note.

Benchmark indices opened in the green today following the trend on SGX Nifty. But as the session progressed, gains were erased.

At present, the BSE Sensex is trading lower by 140 points. Meanwhile, the NSE Nifty is trading down by 37 points.

NTPC and Reliance are among the top gainers today.

Nestle and UltraTech Cement are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is up by 0.5% while the BSE Small Cap index is trading higher by 0.2%.

Sectoral indices are trading on a mixed note, with stocks in the power and utility sectors witnessing buying.

Stocks in the IT and healthcare sectors witness mild selling pressure.

Lakshmi Machine and ZF Commercial hit their 52-week high today.

In the commodity markets, gold and silver prices rise today. Today, gold prices are trading higher by Rs 167. Currently, gold prices are trading at Rs 50,610 per 10 grams.

Note that gold prices have fallen and have taken quite a knock in recent weeks.

Meanwhile, silver prices are trading higher at Rs 52,902 per kg. Silver prices have fallen a lot in recent days.

The rupee is trading at 79.9 against the US dollar

In news from the media sector, Zee Entertainment's share price is falling.

On Tuesday last week, Zee Entertainment announced that it has agreed with Disney Star to exclusively broadcast on TV the ICC Men's events including the ICC Men's T20 World Cup (2024, 2026), ICC Men's Champions Trophy 2025, and ICC Men's Cricket World Cup 2027.

This should have brought a wave of happiness to the investors and Zee's share price.

However, that did not happen. In fact, the company's share price is falling on the bourses.

Take a look at the chart below.

Further, in news from the auto sector, Tata Motors is to make some investments.

India's largest commercial vehicle maker is investing up to Rs 40 bn in the next two years to revamp and rationalize its product portfolio and introduce cleaner powertrains, seeking to meet future emission norms of the industry that appears to be on course to scaling a fresh peak in sales volumes. The company will be rolling out new flexible vehicle architectures starting April 2023; these will not only meet the upcoming real driving emission norms, but the same product platform will also be able to serve the needs of diesel, gas, and electric vehicles.

Girish Wagh, ED, Tata Motors, told ET that with a current product portfolio revamp plan, the vehicle architectures will be rationalized by 30%; yet the new generation platforms will be able to deliver more varied product offerings to suit an individual customer's needs.

The company on Monday unveiled a range of products in the intermediate, medium, and heavy commercial vehicle segment by adding CNG options in the bigger trucks segment and the addition of advanced driver assistance technology in trucks.

This makes its range cleaner and safer - the attributes that have helped its passenger vehicle business differentiate itself from rivals.

Speaking of Tata Motors, Tata group has been leading the EV revolution. 

Further, in news from the pharma sector, Cipla and Torrent Pharma are in competition.

Cipla, KKR-owned JB Chemicals, and Torrent Pharmaceuticals are in the final race for acquiring Medley Pharmaceuticals in a deal worth around Rs 45 bn, said people aware of the development.

Half a dozen bids were in for Medley, including bids from 2-3 private equity funds.

However, the pharma majors offered a higher price, in the range of Rs 45 bn, and have made the cut following the non-binding bid submissions, said the people. Cipla is the most aggressive in its pursuit, said one of them.

Kotak Mahindra Capital is advising Medley's promoters.

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