Indian Indices:
Indian markets are likely to continue gaining momentum and open higher on Friday tracking firm cues from US stocks as a sense of relief returned to the market after Federal Reserve kept key rates unchanged at its two-day policy review on Wednesday. SGX Nifty is trading 1.00 points higher.
The focus is on the telecom stocks after Vodafone Group announced investment of Rs 48,000 crore in to its Indian arm ahead of an spectrum auction starting next month.
L&T Technology Services, subsidiary of engineering & construction giant Larsen and Toubro, will list its equity shares on September 23. The issue price is fixed at Rs860 per share, the higher end of price band.
Nifty rose 1% on Thursday, its biggest daily percentage gain in more than two weeks, as the Federal Reserve's decision to leave US interest rates unchanged led to a rally in stocks across the globe.
On Thursday (September 22, 2016), BSE SENSEX closed at 28773.13, gained by 265.71 points or by 0.93%, and the NSE Nifty settled at 8867.45, rose by 90.30 points or by 1.03%.
Global Market:
Asian shares edged closer to 14-month highs on Friday while the dollar was on the defensive as investors grew more convinced that the Federal Reserve is settling into a phase of very gradual interest rate hikes.
U.S. stocks closed near session highs Thursday, with the Nasdaq Composite notching a record close, as investor enthusiasm following the Federal Reserve’s most recent policy update spilled over into a second session.
European shares climbed to a two-week high on Thursday, boosted by a rally in mining stocks, after the U.S. Federal Reserve left interest rates unchanged and projected a less aggressive path for hikes next year and in 2018.
Major Headlines of the day:
Wipro to acquire Zhonghsan Ma Er Daily Products
Sun Pharmaceuticals among bidders for Bayer’s dermatology brands
IOC eyes entire GSPC stake in Mundra LNG terminal
Trend in FII flows:The FIIs were net buyers of Rs 336.87 Cr in the cash segment on Thursday while the DIIs were net buyers of Rs 310.35 Cr, as per the provisional figures.
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