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Indian markets are expected to open flat tracking SGX Nifty. The SP 500 and Nasdaq registered modest gains on Thursday as advances in Apple and Facebook shares due to better than expected quarterly results helped to offset losses in telecom and energy stocks. The US indices traded in a relatively narrow trading range. The lack of movement came about due to the Federal Reserve statement on hinting at a possible rate hike by September as the nearterm risks to the economic outlook had diminished. U.K. bluechip stocks dropped on Thursday due to corporate earnings updates with shares of Royal Dutch Shell PLC and Lloyds Banking Group PLC falling after their reports. The prospect of a U.S. interestrate increase resulted in the London benchmark moving away from the 2016 high. Equity benchmarks rallied sharply in later in the trading session. Benchmark indices shrugged off weak foreign markets to end higher after rekindled hopes of the GST Bill getting passed in the ongoing monsoon seDownload Full Report