Epic Research Special Stock Market Report 15 June 2017

Global markets at a glance
Asian equities turned cautious on Thursday after the US Federal Reserve raised interest rates for the second time this year, as was widely expected by markets. Despite inflation coming in below the Fed’s target, the central bank said it would raise the benchmark interest rate by 25 basis points.

Previous day Roundup
Key benchmark indices garnered modest gains after gyrating in a small range during the day as firmness in most global stocks and data showing wholesale price inflation easing in May, supported gains on the bourses.

MACRO NEW
Government may be looking to sell stake in Shipping Corporation Of India
Indian Oil Corporation to set up 87 control rooms to address dealer issues on daily price revision
Tejas Networks IPO subscribed 11 percent on first day
GTPL Hathway IPO to open on June 21, price band set at Rs 167-170 per share
Alkem Labs gets US FDA nod for fungal infection drug,Itraconazole Capsule
Wockhardt gets tentative US FDA nod for Benda mustine Hydrochloride injectable (used to treat different types of cancer)
Mckinsey to help Usha Martin wade through debt: BSNTPC eyes 3 million tonne coal output in FY18
RBI puts Central Bank of India under prompt corrective action in view of high NPA and negative return on assets
Gammon Infra board meeting for results postponed to June 18

STOCKS IN NEWS
Vascon Engineers – SEBI seeks clarification on cancellation of Vascon deal with Lodha arm: ET
Tata Power/Welspun Enterprises in focus – Tata Sons may put Welspun deal under lens: ET
Repco Home Finance raises Rs 272 crore from IFC
Dr Reddy’s Labs recalls 3.25 lakh cartons
of Cipla made drug

COMMODITY ROUNDUP
Gold futures were little changed during afternoon trade in the domestic market on Wednesday as investors and speculators awaited further cues on market direction ahead of the outcome of a US Fed’s policy meeting later in the day
which could provide further clues over the timing of interest rate hikes this year.Further the US central bank is widely expected to raise interest rates at its two-day meeting.Meanwhile the focus will be on any fresh hints on the pace of further tightening in the months to come and next year and any further details on its plans for trimming its balance sheet.

Trading Recommendations
BUY GOLD ABOVE 29050 TGT 29250 29450 SL BELOW 28950
SELL GOLD BELOW 28900 TGT 28800 28600 SL ABOVE 29000

CURRENCY MARKET UPDATES
Indian rupee commenced almost flat against the dollar in early trades on Wednesday, 14 June 2017 surrounding uncertainty over Federal interest rate decision at its policy meet today. Domestic stocks opened higher, which kept mood positive. Weakness in the dollar against other currencies overseas supported the rupee too.

Epic Research Limited is a supreme level financial advisory services provider firm .We have designed services for different investors as per their needs like Stock tips, Stock futures tips and many more to serve our clients. We offer regular services for investors with less capital and premium services for massive investors looking for higher returns on investments with bigger targets.
Want to take a FREE TRIAL? Visit our site link below and become a part of our Epic family. Happy trading.
http://www.epicresearch.co/
or
mail us @ info@epicresearch.co

Also you can Whatsapp us at :7049084664

Our Office:411 Milinda Manor, 2 RNT Road, Indore 452001