Epic Research Special Stock Market Report 24 July 2017

Global markets at a glance
U.S. stocks sank Friday and the euro climbed to its highest level against the dollar since January 2015 as investors assessed an investigation into U.S. President Donald Trump that may stall his economic agenda. European shares fell as the common currency’s rally weighed on car makers and other exporters. Oil slumped after reports that OPEC supply increased this month.All major U.S. equity gauges ended lower, with energy shares leading decliners in the S&P 500 Index.

Banking Wrap Essar Steel plea against RBI dismissed,ICICI Bank offers ATM loans
Top telcos brace for impact as JioPhone targets their 2G users
I-T dept detects Rs 19,000 crore black money in ICIJ, HSBC cases
Bajaj aims to expand market share to 26%, launch products under all 7 brands by Dec
SBI, Carlyle to buy out GE Capital’s 26% stake in SBI Card
Government mulling changing financial year to January-December: Arun Jaitley
Lupin’s Goa plant clears Prior Approval Inspection by USFDA
JP Associates, Jubilant Life gain 3-15% as Rakesh Jhunjhunwala picks stake in cos
CAG finds underestimation of revenues by 6 telcos
Mudra loans set to top Rs 2 lakh crore in FY18; West Bengal, Tamil Nadu, Bihar biggest recipients
Just Dial: Buyback maybe a good opportunity to head for the exit

Bajaj set sights on acquisition, MV Agusta launches Brutale 800
Swetsam Stock Holding sells 2 lakh shares of Relstruct Buildcon
Abhinandan Leasing and Finance sold 1.6 lakh shares of Mastek
Amtek Global to sell UK plants to Liberty group

Gold edged up to a three-week high amid broad weakness in US dollar. Dollar eased on Thursday after European Central Bank President Mario Draghi said ECB policymakers would discuss potential changes to the bank’s bond-buying
scheme in the autumn, lifting the euro to a 14-month high against the dollar. This pulled the broad dollar index lower too. The dollar index is around a 10 month low.

BUY GOLD ABOVE 28650 TGT 28700 28570 SL BELOW 28550
SELL GOLD BELOW 28480 TGT 28430 28330 SL ABOVE 28580

The Indian rupee recovered slightly in early trades on Friday, 21 July 2017 on increased selling of the US currency by exporters and banks, with stronger domestic stocks providing support. The dollar hit a nearly two-year low against
the euro after the head of the European Central Bank said tapering of its stimulus will be on the table this autumn.Besides, a higher opening in the domestic equity market further supported to the upside.The domestic currency opened at Rs 64.38 against the dollar and climbed further to a high of 64.3350 so far during the day.

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