Indian Indices:
The Indian benchmark indices are set to open flat on Thursday amid mixed cues from the Asian peers. SGX Nifty is trading 13.5 Points down at 9723 level. The markets are expected to react to the Fed Chair Janet Yellen statement that the Federal Reserve needs to continue gradual rate hikes despite broad uncertainty about the path of inflation.
On the corporate front, Air India shares may witness some movement after it has tied up with public sector lender Punjab National Bank and private lender IndusInd to secure loans to the tune of over Rs3,000 crore for meeting working capital requirements. The Markets are expected to remain volatile today ahead of the expiry of September derivative contracts due today. Benchmark indices fell over 1% on Wednesday, losing for seventh straight session after army conducted operation along India-Myanmar border. The BSE nsex"); Sensex settled at a 3-month low while the broader Nifty50 index ended at 1.5 months low ahead of the September F&O expiry.
Global Market:
• US stocks rose on Wednesday as gains in financial shares were powered by growing expectations for a December interest rate hike and on hopes President Donald Trump's administration may be making progress on a tax plan.
• Asian shares buoyed after release of US tax reform plans.
• European markets closed higher on Wednesday afternoon, amid some major corporate news and highly anticipated details on tax reform in the U.S. Key data to watch in US today is Jobless claim data.
Major Headlines of the day:
• Andhra Bank to cut base rate by 15 basis points to 9.55%.
• GE Power India won an order worth Rs328 cr from Doosan Power India.
• IDBI Bank sells 9% stake in SIDBI. Power Grid begins commercial operations of Pole II of the Champa-Kurukshetra HVDC Terminal
Trend in FII flows: The FIIs were net buyers of Rs -856.28 the cash segment on Wednesday while the DIIs were net sellers of Rs 1858.29 as per the provisional figures.
Securities in Ban For Trade Date 28-SEP-2017:
1.DHFL
2.DLF
3.GMRINFRA
4.IBREALEST
5.JPASSOCIAT
6.JSWENERGY
7.RCOM
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