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Indian Shares Likely To Open On Positive Note

Higher SGX Nifty futures and positive cues from global markets point to a firm start for Indian stocks Thursday morning.

Wall Street ended on a strong note overnight despite the Federal Reserve taking a hawkish stance. The Fed hinted tapering of its asset purchases could begin in the near future amid continued progress towards it goals of maximum employment and price stability.

The Fed said a "moderation in the pace of asset purchases may soon be warranted" if progress towards its dual goals continues broadly as expected.

During his post-meeting press conference, Fed Chair Jerome Powell indicated the central bank could begin tapering its asset purchases as soon as its next meeting in early November.

Markets in Asia are fairly steady today, even as investors continue to track news about Chinese real estate major Evergrande as the company has to make $83.5 million in dollar-bond interest payments today.

Infosys Limited announced a strategic collaboration with Amazon Web Services to develop quantum computing capabilities and use cases. As per the agreement, Infosys will use Amazon Braket to explore and build multiple use cases in quantum computing as part of Infosys Cobalt cloud offerings.

Mphasis Ltd has acquired Seattle-based research, strategy and design firm Blink UX in an all-cash deal worth about $94 million.

Bharti Airtel said in a regulatory filing that its Rs 21,000 crore rights issue will open on October 5. The company has fixed September 28 as the record data for rights entitlement in the issue.

Kalpataru Power Transmission Limited has won an arbitration award of about Rs 236 crore agains the Rwanda Energy Group.

Indian shares closed on a weak note on Wednesday after swinging between gains and losses during much of the day's session, as investors stayed largely cautious, looking ahead to the Federal Reserve's monetary policy statement.

The benchmark 30-share BSE Sensex ended the session with a loss of 77.94 points or 0.13 percent at 58,927.33, while the National Stock Exchange's Nifty index settled at 17,546.65, down 15.35 points or 0.0% from Tuesday's close.

U.S. stocks closed sharply higher on Wednesday. The Dow jumped 338.48 points or 1 percent at 34,258.32, the Nasdaq surged up 150.45 points or 1 percent to 14,896.85 and the S&P 500 shot up 41.45 points or 1 percent to 4,395.64.

The major European markets closed on a firm note on Wednesday with investors shrugging off concerns about Chinese real estate major Evergrande's debt woes, and looking ahead to the Federal Reserve's policy announcement, due later in the day.

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