Markets may remain volatile due to Aug series F&O expiry;

Indian Indices:

Indian equity markets are likely to start trading on cautious note on Thursday, tracking mixed cues from Asian peers. In the later part of the trading session, markets are expected to witness volatility due to August series F&O expiry. The SGX Nifty, which was trading at 9,869 with a loss of 12 points, is indicating a cautious start for the day.

Now, going forward, on the way up, the index has multiple resistances in the zone of 9,920-9,940, and if it manages to sustain above this resistance area, then it may scale up to the level of 10,000. On the downside, the level of 9,850 is a key support area and the next support is seen around the 9,800 level.

Back home, Indian markets closed higher on Wednesday, with BSE Sensex and Nifty surging about 1%, recovering most of the previous session’s losses as geopolitical tensions eased. The buying in index pivotals such as HDFC twins and Reliance Industries helped the benchmarks recoup their losses.

Global Market:

The US stock market indices ended higher on Wednesday, following the release of some upbeat US economic data, including a report showing a jump in private sector employment. The Dow Jones Industrial Average ended at 21,892 with gains of 27 points. The S&P 500 index jumped 11 points to close at 2,458. The tech-heavy Nasdaq Composite Index climbed 66 points to settle at 6,368. The Nasdaq Composite Index outperformed other benchmarks, courtesy sharp rise in biotechnology shares.

Asian indices were trading mixed in early trade on Thursday. Japan’s Nikkei 225 has surged 138 points, while Hong Kong's Hang Seng has shed 132 points and China’s Shanghai Composite has slipped 4 points.

Major Headlines of the day:

Biocon :US FDA target action date for Trastuzumab reset to December 3, US FDA informed Mylan that it will extend target action date for Trastuzumab.

Reliance Industries: fixed record date for bonus equity shares as September 9.

Fortis Healthcare: sells its stake in Fortis Medicare International Limited to Fortis Global Healthcare.

Ajanta Pharma: gets US FDA nod for Migraine drug, Eletriptan hydro bromide tablet.

Trend in FII flows: The FIIs were net buyers of Rs -12.46 the cash segment on Wednesday while the DIIs were net sellers of Rs 290.78 as per the provisional figures.

Securities in Ban For Trade Date 31-AUG-2017:

1.ADANIENT

2.BEML

3.DLF

4.GMRINFRA

5.HDIL

6.IBREALEST

7.INDIACEM

8.JPASSOCIAT

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