Epic Research Special Stock Market Report 14 August 2017

Global markets at a glance
The three major US stocks indexes ended higher on Friday,snapping three days of losses, as investors bet on slower US rate hikes, but gains were muted by increasingly aggressive exchanges between the United States and North Korea. Weaker-than-expected July consumer price data led investors to bet that benign inflation would keep the US Federal Reserve from raising rates again this year. European markets registered their worst weekly loss this year on Friday amid rising tensions between US and North Korea The pan-European Stoxx 600 ended over 1% lower to a five-month low with almost all sectors in negative territory. For the week, the benchmark slipped 2.6%. U.K.’s FTSE 100, the German DAX and the French CAC 40 all dropped more than 2.3% this week.

MACRO NEW
Vinati Organics board of directors approve buyback proposal for purchase of 2,00,000 equity shares (0.39%) through tender route
Tata Power may hive off strategic engineering divison
Hero Motor plans to launch 3 new scooter modelsDLF’s 40% stake sale in rental arm to GIC enters final lap
Mercator planning to hive off its dredging business and raise 200mn$
Adani Ports and JSW in race to buy APM’s Gateway terminals stake
Bajaj Finance hires 3 I-banks for 700mn$ Qip
Results today: Coal India, Tata Power, Grasim Industries
Overseas Investment Company (Mauritius) Limited subsidiary of Mahindra & Mahindra, has agreed to sell its entire shareholding of 51% in Mahindra Yueda Yancheng Tractor Company Ltd (‘MYYTCL’), China

STOCKS IN NEWS
Satin Creditcare board approves the allotment of 12,30,098 Optionally Convertible Redeemable Preference Shares (‘OCRPS’) of Rs. 10/- each at an issue price of Rs. 284.53 to M/s. Capital First
JK Tyre – Rating on Long term bank facilities upgraded to CARE A+ stable from CARE AA- Negative
Reliance Communications – ICRA revises long term rating to BBB

COMMODITY ROUNDUP
Gold is holding around two month highs as global markets slipped ahead of weekend. A continued selloff emerged in stocks as investors continued to pare their riskier positions amid rise in geopolitical tensions between the US and North Korea. COMEX Gold is currently trading at $1293 per ounce, up 0.29% on the day. MCX Gold futures are trading at Rs 29235 per 10 grams, up 0.20% on the day after surging above Rs 29K in last session.Indian Copper was trading at Rs 409.7 per kg, declining in evening trades. The prices were down 0.41% when last checked. Meanwhile, Global Copper major Glencore is bet-
ting on Copper and Zinc.

TRADING STRATEGY:
BUY GOLD ABOVE 29220 TGT 29300 28450 SL BELOW 29120
SELL GOLD BELOW 29070 TGT 29000 28850 SL ABOVE 29170

CURRENCY MARKET UPDATES
The Indian rupee plummeted further against the dollar in early hours on Friday, 11 August 2017 tracking a strong demand for the American unit from importers amid foreign fund outflows as sentiments weaken. Besides, early losses
in domestic equity markets and strength in the US dollar against some other currencies overseas also weighed on the rupee sentiment. The domestic currency opened at Rs 64.2450 against the dollar and registered an intra day high and low of 64.1650 and 64.27 respectively so far during the day.

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