Wall Street closed mostly flat on Monday after a choppy session, as investors geared up for two key central bank meetings. The Dow Jones industrial average fell 0.02% to close at 18,120.17 points. The S&P 500 fell less than a point and the Nasdaq fell 0.18% to end at 5,235.03 points. US crude oil futures slipped 0.2% to USD 43.22 a barrel, moving further away from overnight highs. Brent edged 0.1% lower to USD 45.91.
Market participants are awaiting the US Federal Reserve's Open Market Committee meeting scheduled on September 20-21, with Janet Yellen holding a news conference on Wednesday.
Moody’s Investor Service said that it saw the asset quality cycle bottoming out in Indian banks, indicating a stable outlook for the sector.
On the economy front, the finance ministry has invited applications for the post of chairman of the capital and commodities market regulator Securities and Exchange Board of India (Sebi). The tenure of current chairman U.K. Sinha ends on 1 March 2017.
Among other stocks in focus:
Dr Reddy's Laboratories: Dr Reddy's Laboratories said it has launched in the US generic Paricalcitol injection used for treatment associated with chronic kidney disease.
Asian Paints: Asian Paints' step down firm Asian Paints (International) Limited (APIL), Mauritius has transferred its entire holding of 99.18 per cent held in subsidiary Asian Paints (Lanka) to Singapore-based Berger International.
Jubilant FoodWorks: Jubilant FoodWorks said its CEO and whole-time director Ajay Kaul will resign to pursue opportunities outside the company.
Aviation stocks in focus: Domestic airlines flew 8.3 million passengers in August posting nearly 24% growth over year, according to data released by the Directorate General of Civil Aviation.
Karur Vysya Bank Ltd: Karur Vysya Bank has informed the BSE that the Board of Directors of the company at its meeting held on September 19 has approved the proposal for sub-division of existing one equity share of Rs.10 each face value fully paid up into 5 equity shares of Rs.2 each face value.
NBCC: A navratna central public sector enterprise (CPSE), announced that under the administrative control of urban development (MoUD) it has been nominated for disposal of land assets of the sick CPSEs, as per media reports.
Mangalam Cement: Mangalam Cement has commenced commercial production at its new cement grinding unit of 0.75 million tonnes per annum (mtpa) capacity in Aligarh, Uttar Pradesh, as per media reports.
Tata Steel: Tata Steel will pay out a total Rs.130 crore as annual bonus to its eligible employees for the year 2015-16, as per media reports.
IFCI: IFCI will sell its entire stake in Assets Care and Reconstruction Enterprise Limited (ACRE) to Axis Bank for Rs 22.72 crore.
Glenmark Pharmaceuticals: Glenmark Pharma has entered into an agreement with US-based Particle Sciences Inc. to develop and market a generic version of Celgene Corp.’s Abraxane, used in the treatment of breast and pancreatic cancers .
Indiabulls Housing Finance Ltd: The company said it has raised Rs.1,330 crore by issuing its first masala bonds to overseas investors.
PI Industries: Citigroup has initiated coverage on PI Industries with a buy rating and a target price of Rs.1,060 citing strong long term growth prospects, as per media reports.
Telecom stocks in focus: Telecom operators have deposited Rs.14,653 crore as earnest money for the country’s largest-ever spectrum auction from 1 October, with Reliance Jio alone submitting Rs.6,500 crore.
Global Data: SECO Economic Forecasts REPORT Producer Price Index (MoM) (Aug), EUR Producer Price Index (YoY) (Aug), CHF Trade Balance (Aug),CHF Exports (MoM) (Aug), CHF Imports (MoM) (Aug), EUR 3-Month Letras Auction, EUR 9-Month Letras Auction, EUR Current Account (YoY) (Jul), Current Account Balance (Jul),USD Building Permits (MoM) (Aug),USD Housing Starts (MoM) (Aug),USD Building Permits Change (Aug), USD Housing Starts Change (Aug),USD Redbook index (YoY) (Sep 16),USD Redbook index (MoM) (Sep 16), NZD GDT Price Index,USD 4-Week Bill Auction,CAD BoC Governor Poloz Speech SPEECH,USD API Weekly Crude Oil Stock,NZD Visitor Arrivals (YoY) (Aug),JPY Exports (YoY) (Aug),JPY Imports (YoY) (Aug), JPY Merchandise Trade Balance Total (Aug)
Trends in FII flows: The DIIs were net sellers of Rs.2.52 mn in the cash segment on Monday. The foreign institutional investors (FIIs) were net buyers of Rs.2.05 bn as per the provisional figures released by the NSE.
Read More: Top 13 stocks in focus today: Dr Reddys Lab, Jubilant FoodWorks, Karur Vysya Bank