Epic Research Special Stock Market Report 14 June 2017

Global markets at a glance
Street gained on Tuesday, with the S&P 500, Dow industrial and Russell 2000 setting record closing highs, as technology stocks bounced back and investors positioned for an expected Federal Reserve interest rate hike. The S&P 500
technology sector rose 0.9 percent, recovering from its biggest two-day decline in nearly a year that also weighed on the broader market. Big tech names, such as Microsoft and Facebook , pushed the S&P 500 higher.

Previous day Roundup
A divergent trend was witnessed as the barometer index,the S&P BSE Sensex, settled with tiny gains while the Nifty 50 index registered minor losses in a volatile session of trade.

MACRO NEW
Reliance Communications-Brookfield tower deal likley to close by next month
Greaves Cotton Inks pact with Pinnacle Engines to grant license
Dr Reddy’s Laboratories API manufacturing plant at Miryalaguda receives EIR from the US FDA
Glenmark gets tentative US FDA nod for Saxagliptin tab-lets (used for treating type-2 diabetes)
Mahindra & Mahindra approves sale of part sharehold- ing in Mahindra Logistics through IPOs JSW Energy appoints Prashant Jain as MD & CEO
Ashok Leyland allots 8.06 crore shares of Ashok Leyland to shareholders of Hinduja Foundries
Wipro acquires Drivestream inc, a management and IT consulting firm specializing in Oracle Cloud services
JSW Steel reports crude steel production at 13.57 lakh tonnes for May 2017, growth of 1 percent YoY

STOCKS IN NEWS
Kellton Technologies partners with BEC, a leading provider of automated data capture and voice solutions
Adani Transmission releases pledge on 3.03 crore shares
Gammon Infra board meeting for approval of results adjourned to June 14
Filatex India – CARE upgrades long term bank facilities to BBB+
Magma Fincorp board meeting on June 20 to consider and approve merger of Magma Advisory Services

COMMODITY ROUNDUP
Gold futures closed lower in the domestic market on Tuesday as the Federal Reserve was widely expected to wrap up its two-day meeting Wednesday with an increase to interest rates which typically act as a headwind to prices for the yellow metal. The Fed’s two-day meeting will wrap up Wednesday where a dollar-supportive rate increase is widely expected but not guaranteed.

Trading Recommendations
BUY GOLD ABOVE 28960 TGT 29060 29260 SL BELOW 28850
SELL GOLD BELOW 28900 TGT 28800 28600 SL ABOVE 29000

CURRENCY MARKET UPDATES
The Indian rupee registered a weak opening in early trades on Tuesday, 13 June 2017 as strength in the dollar against other currencies overseas made the rupee keep a low profile. Increased demand for the US currency from
importers and banks and a lower opening in the domestic equity market also weighed down the local unit.
The domestic currency opened at Rs 64.45 against the dollar and fell further to a low of 64.49 so far during the day.

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