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Markets always tend to be interesting with something or the other happening all the time. Our Morning Mantra is released before the opening bell and it includes the market commentary along with Corporate & Global news for the day

• Asian shares declined as concerns mounted over Deutsche Bank AG’s & Wells Fargo & Co finances, spurring a selloff in global financial shares & raising concerns over the systemic risk these banks pose to the global financial system.  
• Market is expected to open on a flattish and likely to remain range bound during the day. 
• RBI fortnightly data of deposits and advances as on September 16, 2016:

Particulars	16-Sep-16	02-Sep-16	01-Apr-16	18-Sep-15	FoF (%)	YTD (%)	YoY (%)
Bank Deposits	9,790,966	9,855,959	9,720,822	8,959,357	(64,993)	70,144	831,609
% increase					-0.66%	0.72%	9.28%
Bank Advances	7,309,975	7,324,193	7,530,000	6,706,053	(14,218)	(220,025)	603,922
% increase					-0.19%	-2.92%	9.01%

Rate of interest on small savings schemes have been cut marginally by 0.1%.  The popular National Savings Certificate and Public Provident Fund (PPF) will see their interest rates come down to 8.0% in October-December quarter from 8.1% in April-Jul quarter.   Interest rates for small savings schemes are reset every quarter now. The Kisan Vikas Patra will now pay out 7.7% instead of 7.8% and mature in 112 months instead of 110.  Yesterday market saw correction on account of Military strike and high leverage position in Mid Cap.  Looking at no retaliation from Pak side it seems the intensity of the event is not so high.  We may see bounce back on account of that. But valuation of mid cap stock has any how has increased substantially and the rally was driven by liquidity we feel the bounce back can be used to reduce position in Mid Cap stock.  Nifty is likely to move in a range of 8550- 8800 in coming October Series. HCL and IBM said that the companies have entered a 15-year partnership for automation and development and operations.  Alkem’s Daman facility has got 13 483s from USFDA. Inspection was held between Sept 20-29.  Though we don’t the nature of the observations it is still a Negative development for the company. Tata Steel is planning to initiate second phase expansion at Kalinganagar plant in Odisha to double its capacity to 6 mtpa, but has no proposal to set up another green-field steel plant in immediate future.  YES Bank plans to raise up to Rs 2,500 crore by issuing long-term bonds on a private placement basis. Promoters of Lovable Lingerie are in talks with PE funds to sell between 15-20% stake in the company.  Hindustan Copper's offer-for-sale of shares got fully subscribed by non-retail investors. Institution Note: •  Accenture- NOT RATED - Industry Update- Says Market Will Grow At 2016 Rate Though Macro Worse.  No Problems In BFSI, Yet: After delivering FY16 (YE: August) revenue growth at the top end of its upgraded guidance of 9.5%-10.5% in constant currency or CC terms (against 5%-8% given at the beginning of the year)  Accenture (ACN) has again signalled a growth of 5%-8% for FY17 in CC terms. In reported USD terms FY16 revenue growth was 6%. ACN believes market growth will be 2.5% organically in FY17 (in line with FY16, indicating no slowdown).  This is despite acknowledging that the macro situation today is more challenging than what it was a year back. 200bps of the revenue guidance will come from acquisitions (similar to the past years, indicating organic growth guidance of 3%-6%).  FY16 was the second successive year of double-digit CC growth rate, indicating significant market share gain. Interestingly, while all its Indian peers have been indicating problems with the global BFSI sector, Accenture’s commentary was neutral.  The company said it did not face any problems either in North America or in Europe in this respect, although it is watchful of various events happening in the sector. Three months ago, it had highlighted concerns over the European BFSI space.  It is likely gaining market share. With two successive years of strong growth, the company seemed to be signalling a slightly slower growth, but stronger than that of the market. It seems to have gained market share not only against its US-based peers, but also against many Tier-1 Indian companies.