- Fed keeps US rates steady, hints at Dec hike. To start portfolio drawdown in October
- FM: Measures to revive GDP growth to be announced soon
- 5,000 cos under scanner for claiming more than Rs 1 crore in GST refunds
Janet Yellen statement came as a big relief for investors not just in India but across the globe. US Fed statement is positive for global markets because it removes uncertainty but rate hikes are not taken well by EMs including India. Fed also talked about economic activity slowing down which should also have a bearing on markets. It will be a sentiment driven move in Nifty today – expect some more selling by FIIs.
FPIs sold Rs1185 crore from equity markets| FIIs sold nearly Rs8000 cr in September. DIIs bought Rs946 crore shares in Indian equity market
Arun Jaitley vows ‘necessary’ measures to revive slowdown-hit economy
The Nifty formed a bearish candle for the second day in a row. It is trading above its crucial short-term moving averages such as 5-DEMA, 10-DEMA, 13-DEMA, and 20-DEMA. A breakout could take the index towards 10,200 and then further towards 10,300. Failure to hold 10,080 will lend a strong support to the index. Investors are advised to hold their positions and add fresh longs only after a breakout.
Reliance plans major expansion at world's largest oil refinery complex: Sources. M&M to acquire 2 Turkish companies for Rs 800 crore. Glenmark gets USFDA nod for chest pain tablets. Reliance Capital to list home finance unit on 22 September. IT companies will be in focus after reports suggest that onsite IT Staff Under Trump Administration Lens.
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