Epic Research Special Stock Market Report 02 August 2017

Global markets at a glance
The Dow Jones Industrial Average racked up a fifth straight record high on Tuesday and neared the 22,000 mark, powered by Goldman Sachs, JPMorgan Chase and other banks.Apple rose 0.89 percent as Wall Street awaited the largest
publicly listed company’s quarterly report after the bell, with the iPhone maker expected by analysts to post a 6-percent rise in revenue. The S&P 500 information technology index is up 22 percent year to date, leading other sec-
tors. The Dow has risen 11 percent in 2017, even as Wall Street loses confidence that President Donald Trump and a Republican-controlled Congress this year will cut taxes and increase spending on infrastructure.

MACRO NEW
Results today: PNB, Lupin, Bata, Emami, Reliance Infrastructure, Voltas, Wockhardt
Hero MotoCorp July total two-wheeler sales at 6.23 lakh units versus 5.32 lakh units (YoY)
Punjab National Bank board approves raising equity capital by way of FPO/Rights Issue/QIP/ESPS/ESOP to the tune of Rs 3,000 crore
L&T Realty, Nirmal ink pact to develop Mulund land parcel
Indo Rama may buy Tata Chemicals’ Haldia unit
ABG Shipyard to face bankruptcy proceedings: Mint
Reliance Capital in focus – Reliance Nippon hires Nomura, JM Financial, CLSA to mange IPO
Max Ventures enters realty sector with 3 projects in NCR, Dehradu
Tata Steel completes sale of mills to Liberty
GSFC resumes operations at Ammonia-IV plant after rectifying the problems

STOCKS IN NEWS
Swan Energy subsidiary of the company has executed a contract agreement of Rs 459 crore for EPC for FSRU based LNG port with Black and Veatch Private Limited
Cilix Capital to buy Religare Housing for about Rs 600 crore
Artson Engineering wins orders worth Rs 23.4 crore to install connector fuel pipelines

COMMODITY ROUNDUP
COMEX Gold hit its highest in almost seven weeks on Monday but slipped on Tuesday as profit booking chipped in. Gold was trading down by 0.05% when last checked on at $ 1266 per troy ounce. Meanwhile, Indian Gold was down by
more than 0.6% to trade at Rs 28380 per 10 grams. Meanwhile, Australia’s central bank decided to leave its key interest rate unchanged at a record low for the eleventh consecutive meeting on Tuesday and cautioned that rising currency is likely to weaken inflation and weigh on economic activity.

TRADING STRATEGY:
BUY GOLD ABOVE 28850 TGT 28900 29000 SL BELOW 28750
SELL GOLD BELOW 28500 TGT 28450 28350 SL ABOVE 28600

CURRENCY MARKET UPDATES
The Indian rupee strengthened in early trades on Tuesday, 01 August 2017 as exporters and banks intensified selling of the American currency. Dollar’s weakness against other currencies overseas except the Japanese yen and a
stronger opening in the domestic stock market gave the rupee strength.
The domestic currency opened at Rs 64.10 against the dollar and registered an intra-day high and low of 64.05 and 64.1425 respectively so far during the day.

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