Epic Research Special Stock Market Report 28 June 2017

Global markets at a glance
The tech-heavy Nasdaq led a broad Wall Street decline on Tuesday with stocks falling more sharply after a healthcare bill was delayed in the US Senate, raising fresh questions about President Trump’s domestic agenda. The benchmark S&P 500 posted its biggest one-day drop in about six weeks and closed at its lowest point since May 31.

Previous day Roundup
The barometer index, the S&P BSE Sensex, fell 179.96 points or 0.58% to settle at 30,958.25. The Nifty 50 index fell 63.55 points or 0.66% to settle at 9,511.40.

MACRO NEW
Rail tickets to get costlier as Railways gets Narendra Modi’s nod
US FDA Announces 2 New Steps To Encourage Generic Drug Development & Access
Arrow Greentech – DSP Blakcrock buys 4.7 lkh shares at 530
ONGC gets green nod to explore shale gas in KG basin
Coal India receives high re-auction relisations in June
Liberty house in talks to buy in ABG Shipyard
Cadila aims to double US business in 3 years
Raymond to invets 1400cr in its Maharashtra plant
Ashok leylnad to focus on CV’s
Natural gas may be included in GST; to benefit ONGC
Blackstone exits Jagran Prakashan
GCPL eyes acquaiton in skincare segment

STOCKS IN NEWS
Sangam Advisors has benn awarded letter pf award by Maharashtra State Power Generation Co for design, manufacturing and commissioning 2MV grid interactive solar plant
Country Club board approves to sell off Assets to reduce debt, current debt at 407cr, mkt cap 27cr
From Cogencis: Federal Bank Qip Closes Today; Qip Issue Price At `116/Sh
From Cogencis: Anti-Trust Body Oks Red Bloom’s Buy Of 9% Stake In Icici Lombard

COMMODITY ROUNDUP
COMEX Gold recovered from its six week low amid a cautious undertone in global equities. Asian markets ended on a mostly weak note. European stocks were trading lower as a planned 4.1 Billion Euro private equity takeover of drug maker Stada proved unsuccessful and General Motors lowered its outlook for US new vehicle sales in 2017. COMEX Gold is currently quoting at $1250 per ounce, up 0.30% on the day.

TRADING STRATEGY:
BUY GOLD ABOVE 28570 TGT 28670 28870 SL BELOW 28450
SELL GOLD BELOW 28500 TGT 28400 28200 SL ABOVE 28600

CURRENCY MARKET UPDATES
The Indian rupee strengthened against the dollar in early trades on Tuesday, 27 June 2017, taking support from foreign capital inflows and a higher opening in domestic equities. However, fresh selling of the US currency by exporters
and banks has been offset by weakness in the dollar overseas.The domestic currency opened at Rs 64.42 against the dollar and registered an intraday high and low of 64.4050 and 64.4625 respectively so far during the day.

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