Epic Research Special Stock Market Report 11 August 2017

Global markets at a glance
The S&P 500 index had its biggest one-day drop in almost three months on Thursday as investors fled riskier assets, with technology stocks leading the charge, in response to an increasingly aggressive exchange of threats between the United States and North Korea. US equities steepened their losses late in the session after President Donald Trump said his earlier warnings to North Korea may not have been tough enough. He also said the nuclear-armed nation
should be “very, very nervous” if it even thinks about attacking the United States or its allies.European shares slipped in early deals on Thursday, extending losses as shares in cyclical sectors fell and some large firms went ex-dividend, while earnings spurred some large individual company moves.

Heritage Foods board approves sub division of equity shares
In order to avail various benefits of consolidation of operations, Gitanjali Group has undertaken consolidation exercise of Group’s US business by way of merger of its US based subsidiaries / step down subsidiaries
Mumbai International Airport (GVK owns 50.5 percent stake) plans to restructure loans worth Rs 10,600 crore
Quess Corp looks to raise Rs 1,150 crore via institutional placement
NCLT starts insolvency proceedings against Lanco Infratech
Ashok Leyland eyes Rs 1,000 crore from digital platforms: BS
Maruti Suzuki to open 150 used car outlets by March 2018
GSK, Sanofi in focus – Superme Court uphelds Competition Appellate Tribunals order quashing penalty of Rs 64 crore imposed by CCI

Results today: SBI, Sun Pharma, Bank of Baroda, Hindalco, Cipla, BPCL, Cadila Healthcare, Oil India, Allahabad Bank, REC, RCF, Clariant Chemicals, CESC, Bajaj Hindusthan, BGR Energy, Eros International, Emkay Global, Dhanlaxmi Bank, Cox & Kings, Corporation Bank, Claris Life, GVK Power, GSPL, Godrej Industries, Ipca Labs, Suzlon Energy, HOEC, Kalpataru Power, JSW Energy, Max India, Madhucon Projects, Rajesh Exports, Oriental Bank of Commerce, Omaxe, Sakthi Sugars, Sun TV Network, Strides Shasun, TVS Motor, Time Technoplast, Zee Media.

Gold futures were trading in the green in the domestic market on Thursday taking positive leads from global markets amid increased buying by local jewelers. At the MCX gold futures for October 2017 contract is trading at Rs 28967 per 10 grams up by 0.43 per cent after opening at Rs 28900 against a previous close of Rs 28844.Market men attributed the rise in silver prices at
futures trade to a strong trend in the precious metals overseas. At the MCX silver futures for September 2017 contract closed at Rs 38609 per kg up by 2.96 per cent after opening at Rs 37680 against a previous close of Rs 37499. It touched the intra-day high of Rs 38690.

BUY GOLD ABOVE 29200 TGT 28250 29350 SL BELOW 29100
SELL GOLD BELOW 29050 TGT 29000 28900 SL ABOVE 29150

The Indian rupee plunged further against the dollar in early hours on Thursday, 10 August 2017, falling past the psychological Rs 64/$ levels on increased demand for the American currency from importers and banks amid foreign
fund outflows. Also, the greenback recovering from eight week lows against some currencies overseas and a lower opening in the domestic equity markets weighed on the rupee.The domestic currency opened at Rs 63.96 against the dollar and dropped to a low of 64.10 so far during the day.

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