Indian Indices:
Indian benchmark indices are likely to open lower on Thursday, tracking weak cues from Nifty futures on the Singapore Stock Exchange and soft cues from global peers. The benchmark indices settled the day flat on Wednesday as investors remained on the sidelines ahead of the outcome of US Federal Reserve's policy meeting, which will conclude later in the day. Nifty opened at 10,139 level, down by 2 points while Sensex opened at 32,406 level, up by 6 points on Thursday.. There are 857 advances, 521 declines and 449 unchanged stocks on NSE reflecting strong positive sentiments floating in the market. Dr Reddy’s Lab is top Nifty gainer trading at Rs 2,357 per share, up by 1.86% whereas Coal India is top Nifty loser trading at Rs 254.75 per share, down by 0.7%.On the upside, if Nifty manages to sustain above 10,180 it may scale up to levels of 10,200-10,240, whereas on the downside,
a breach of 10,130 may open for correction up to the levels of 10,115-10,080.
Global Market:
• Asian equity markets struggled for direction on Thursday morning as the US stock markets closed mixed. The Japan’s Nikkei 225 has surged 159 points. The Hong Kong's Hang Seng has shed 35 points and China’s Shanghai Composite has declined by 6 points. Asia shares slip after Fed signals December rate hike
• Wall Street closes slightly higher after Fed policy decisions that expects another interest rate hike by year-end and disclosed timing for reducing its balance sheet
• Key data to watch in US today are Jobless Claim and Bloomberg Consumer Confidence index,European stocks tread softly ahead of Federal Reserve meeting
Major Headlines of the day:
• Birla, Kotak looking to pick 24% stake in Max Financial.
• Novartis India’s board to consider the proposal for buyback at its meeting on September 2.
• Den Networks received NCLT nod to demerge its broadband/internet service arm Skynet Cable.
• NBCC bags Rs 3,200 crore project from the finance ministry to develop a residential-cum-office complex in Mumbai.
• Gold Sales decline 50% after change in KYC requirement from Aug 23. KYC required for transactions above Rs 50,000 (earlier limit was Rs.2 lac).
Trend in FII flows: The FIIs were net buyers of Rs -1185.44 the cash segment on Wednesday while the DIIs were net sellers of Rs 946.23 as per the provisional figures.
Securities in Ban For Trade Date 21-SEP-2017:
1.BEML
2.DHFL
3.HDIL
4.IBREALEST
5.ICIL
6.INDIACEM
7.INFIBEAM
8.JPASSOCIAT
9.JSWENERGY
10.JUSTDIAL
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