Epic Research Special Stock Market Report 21 August 2017

Global markets at a glance
US stocks lost ground late to end lower on Friday following a White House-focused week that raised more questions about the Trump administration’s ability to implement its pro-growth agenda. While the day’s losses were small, Friday marked the first time stocks haven’t risen the day after a more than 1 percent drop since Donald Trump was elected president on November 8. The week’s losses further dented the post-election rally, which was built on Trump’s promises of tax cuts and higher infrastructure spending. Thursday’s 1.5-percent drop in the S&P 500 came a week after a similar fall.Asia markets were subdued in early Monday trade as investors digested political developments in Washington while US-South Korea joint military drills kicked off.

MACRO NEW
FPI net outflow from equities at Rs 7,344 crore in August
MRPL to raise Rs 3,000 crore through issue of nonconvertible debentures (NCDs)
Indian Hotels plans to raise Rs 1,000 crore via rights issue
Piramal Enterprises in focus – Piramal Finance loans Rs 1,000 crore to Rustomjee
Two fixed deposit holders take Jaiprakash Associates to NCLT: BS
Reliance Capital in focus – Reliance Nippon Life Asset Management files for IPO
Laurus Labs USFDA completed inspection of API facilities in Unit 1 and 3 in Parawada with 2 observations
Infosys US investor rights firms prepare to investigate potential claim against Infosys

STOCKS IN NEWS
HUL, ITC biggest gainers as 8 of top 10 cos add Rs 54,968 crore in market cap
Gujarat Fluorochemicals in focus – Russia’s Rosatom eye Inox’s wind turbine manufacturing business

COMMODITY ROUNDUP
COMEX Gold managed to stay supported around its two month highs today amid a jaded undertone in global equities. Strong Indian demand hopes and sustained safe haven buying also helped the yellow metal. The US dollar slipped lower against other major currencies on Friday, as ongoing US political tensions and doubts over an additional rate hike by the Federal Reserve this year continued to weigh. The US dollar index is quoting around 93.50 levels, down 0.15% on the day. COMEX Gold is quoting at $1294 per ounce, up 0.13% on the day. MCX Gold futures are trading at Rs 29371.India’s Gold imports came in at Rs 13554 crores in July 2017, up by 87% on July 2016.

TRADING STRATEGY:
BUY GOLD ABOVE 29220 TGT 29270 29370 SL BELOW 29170
SELL GOLD BELOW 29050 TGT 29000 29900 SL ABOVE 29100

CURRENCY MARKET UPDATE
The US Conference Board said its leading economic index increased by 0.3 percent in July after climbing by 0.6 percent in June. The Conference Board released a report on Thursday showing that its index of leading economic indi-
cators rose in line with estimates in July, suggesting the U.S. economy may experience further improvements in activity in the second half of the year. The report said the coincident economic index rose by 0.3 percent in July after
inching up by 0.1 percent in June. The lagging economic index also ticked up by 0.1 percent in July after rising by 0.2 percent in the previous month.

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