Flat start likely; SGX Nifty up 6 pts: 26 Jul 2017

Indian Indices:

Indian shares are likely to witness a flat to positive start on Wednesday morning as the global markets look mixed with SGX Nifty trading 6 points higher @9979.The benchmark indices are expected to open flat ahead of the derivatives expiry of the July series due tomorrow, while investors will also react to the weak quarterly earnings of the heavyweight Bharti Airtel. Cautious sentiment ahead of the US Federal Resrve's policy outcome will also set the market direction.

The Fed concludes a two-day meeting later on Wednesday, and is widely expected to keep interest rates unchanged.
With a rate hike not in the picture this time, the focus will be on the Fed's statement, with markets looking for signs of when the US central bank will begin paring its massive bond holdings and next raise rates.

Global Market:

Asian stocks steadied on Wednesday and the dollar held firm as investors awaited the Federal Reserve's policy decision later in the day for more clues on its tightening plans.

AT&T Inc's quarterly profit topped Wall Street estimates on Tuesday as the No. 2 U.S. wireless carrier lowered operating costs and introduced new promotions bundling video with phone service that helped it compete in a fierce market for customers

U.S. President Donald Trump named on Tuesday two possible candidates to run the Federal Reserve over the next few years: current Fed Chair Janet Yellen and Trump's economic adviser Gary Cohn, according to an interview with The Wall Street Journal.

Major Headlines of the day:

• Mahindra Lifespaces Q1 net dips to Rs 14 cr on regulatory changes.
• ICICI Prudential Life Q1 net profit flat at Rs 406 cr.
• GlaxoSmithKline Q1 net down 63% at Rs 26 cr on GST transition.

Trend in FII flows: The FIIs were net buyers of Rs 270.77 the cash segment on Tuesday while the DIIs were net sellers of Rs -209.50 as per the provisional figures.

Upcoming Result : YESBANK, PVR, NESTLE, HDFC, INOX LEISURE, HDFC, BHAARTFIN, FEDERALBANK, L&TFH.

Securities in Ban For Trade Date 26-JUl-2017:

1.FORTIS
2.GMRINFRA
3.HDIL
4.IBREALEST
5.IFCI
6.INFIBEAM
7.IRB
8.JSWENERGY
9.JUSTDIAL
10.KSCL
11.UJJIVAN

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