Epic Research Special Stock Market Report 27 July 2017

Global markets at a glance
US stocks climbed modestly on Wednesday to record closing highs after the Federal Reserve kept interest rates unchanged and strong earnings reports from Boeing and AT&T. The US central bank’s statement did not dramatically sway Wall Street’s major indexes, which hit all-time peaks on a busy day of corporate earnings reports. A slide in financial shares held back gains for the S&P 500. As broadly expected by investors, the Fed maintained its benchmark lending rate and said it was continuing the slow path of monetary tightening.

MACRO NEW
Results today: ITC, Dr Reddy’s Labs, Biocon, Glenmark Pharma, HCL Technologies, ICICI Bank, Idea Cellular, Maruti Suzuki, ONGC, Reliance Capital, IDFC Bank, IDFC,Cholamandalam Investment and Finance, Exide Industries, Motilal Oswal, Tata Coffee, Tata Elxsi, Tejas Networks, Balmer Lawrie & Company, Novartis india, Supreme Industries, Aditya Birla Fashion, Automobile Corporation Of Goa, Balaji Amines, Blue Dart Express, CMI,Crompton Greaves Consumer Electrical, Syngene International, Foseco India, IFB Industries, Kirloskar Brothers,Kirloskar Pneumatic, Nocil, Onmobile Global, Redington (India), Sagar Cements, TRF, Wabco India
Capital First raises 140cr by issuing NCD’s
Bhushan Steel is now under insolvency resolution process under the provisions of IBC
Govt to sell upto 25% stake in NEEPCO, MSTC vio IPOs
FIIs restricted from buying shares in Capital First
Ashok Leyland to hike prices by 1% across models in Aug

STOCKS IN NEWS
Power sector’s first InvIT IndiGrid to acquire 4 more projects
Vedanta to raise up to $1 billion in dollar bonds
Thyssen Kurup CEO keen on tata steel merger before sep
KPIT Tech Says Chrys Capital Sells Its 13.8% Hldg In Co On Account Of Closure Of Their Fund
Snapdeal Board Approves Sale Of FreeCharge To Axis Bank

COMMODITY ROUNDUP
COMEX Gold slipped after hitting four week highs as record high US equities triggered some profit selling. The metal rose above $1260 earlier this week on weak US dollar though upbeat global economic momentum is likely to keep
the metal under check on rallies. The dollar dropped near a 13-month low against a basket of major currencies as US political woes dampened hopes for quick passage of Trump’s stimulus and tax reform agendas. However, COMEX Gold eased last night as US equities edged up.

TRADING STRATEGY:
BUY GOLD ABOVE 24450 TGT 28500 28600 SL BELOW 28400
SELL GOLD BELOW 28250 TGT 28200 28100 SL ABOVE 28300

CURRENCY MARKET UPDATES
The Indian rupee commenced slightly lower against the dollar in early trades on Wednesday, July 26, 2017 due to increased demand for the American currency from importers. Dollar strengthening against other currencies overseas
as investors awaited a statement from the US central bank also weighed on the rupee sentiment. The domestic currency opened at Rs 64.42 against the dollar and registered an intraday high and low of 64.3975 and 64.4475 respectively so far during the day.

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