Epic Research Special Stock Market Report 23 June 2017

Global markets at a glance
US stocks closed mixed on Thursday, with the health care sector posting strong gains. The Dow Jones industrial average closed about 10 points lower, with Goldman Sachs contributing the most losses and UnitedHealth the most gains.
The S&P 500 ended just below breakeven, with health care rising more than 1 percent to lead advancers. The Health Care Select Sector ETF (XLV) hit an intraday record earlier in the session. However, financials dropped 0.6 percent as the big bank got ready for the release of their latest stress test results.

Previous day Roundup
3:30 pm Market Closing: Benchmark indices closed higher,with the Nifty and Bank Nifty at record closing high, backed by ICICI Bank that rallied 9 percent post earnings.

MACRO NEW
Shriram EPC bags orders worth Rs 165 crore under water management business
Indiabulls Real Estate to issue non-convertible debentures (NCDs) worth Rs 500 crore
Bankruptcy process started against Zenith Computers:
Homeshop 18 seen in talks with Shop CJ for merger
Global PE’s back Reliance Communications’ tower arm stake sale plan
Idea, Airtel in focus as Manoj Sinha assures telecom companies of ‘corrective steps’
NTPC targets 250 billion unit power generation in FY18 IDBI Bank to raise up to Rs 5,000 crore
Joint Lenders Forum approves sending Bhushan Steel to
the NCLT

STOCKS IN NEWS
Tata Motors up 1% on Rs 500 crore fund raising plan via NCDs The said securities will be listed on Bombay
Stock Exchange (BSE) and National Stock Exchange
(NSE).
graphite India up 8%; Centrum initiates coverage with buy on likely electrifying growth
AAI selects Tata Elxsi to design IT guidelines for airports; stock gains 3%

COMMODITY ROUNDUP
Gold prices pushed higher on Thursday morning in North American trade, moving further away from their lowest level in around five weeks as recent selling pressure tied to bets on another U.S. interest rate hike this year faded.
Comex gold futures were at $1,253.99 a troy ounce by 8:55AM ET (1255GMT), up $8.10, or around 0.7%. Gold prices fell to their lowest since May 17 at $1,241.70 on Wednesday, before rebounding to end higher, snapping a two-session drop.

Trading Recommendations
BUY GOLD ABOVE 28700 TGT 28800 /30000 SL BELOW 28500
SELL GOLD BELOW 28600 TGT 28500/28200 SL ABOVE 28800

CURRENCY MARKET UPDATES
The Indian Rupee continues to trade in a flat manner. Local equities extended a range bound movement today.Overseas, Asian shares were mixed amid speculation on whether China would be added to the MSCI emerging markets index on the fourth try. Investors are keeping an eye on the decision on whether to include China A-shares in the MSCI Emerging Markets Index.

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