Epic Research Special Stock Market Report 06 September 2017

Global markets at a glance
US stocks sank yesterday, with the S&P 500 stumbling to its biggest single-day loss in about three weeks, as investors weighed fresh tensions with North Korea.The Dow Jones Industrial Average fell 234.25 points, or 1.07 percent, to
21,753.31, the S&P 500 lost 18.7 points, or 0.76 percent, to 2,457.85 and the Nasdaq Composite dropped 59.76 points, or 0.93 percent, to 6,375.57, said a report by Reuters.Asian stocks slip today morning while the dollar was on the
defensive with tensions in the Korean Peninsula showing little signs of abating. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.15 percent.

The government on Tuesday said that names of over 2.09 lakh firms have been struck off from register of companies for failing to comply with regulatory requirements and action has been initiated to restrict operations of their bank accounts.
Continuing its crackdown on shell companies which are allegedly used as conduits for illicit fund flows and tax evasion, the government said the directors of deregistered firms would not be able to operate the bank accounts till these entities are legally restored.
Infosys will announce its quarter and half-year ended September 30, 2017 financial results on October 24, the company said. This will be a departure from the tradition where the IT giant is among the first companies to announce results in the second week of the month. The board of directors will meet on October 23-24, 2017 and will also consider payment of an interim dividend.

ICICI Lombard gets Sebi nod for Rs 6,000 crore IPO.
Dixon Technologies & Bharat Road Network IPO to- day
Infosys delays Q2 results announcement to October 24

Large speculators continued to push their bullish net positions higher in the Gold futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of gold futures, traded by large speculators and hedge funds,totaled a net position of 187,734 contracts in the data reported through Tuesday August 15th. This was a weekly boost of 38,897 contracts from the previous week which had a total of 148,837 net contracts.

BUY GOLD OCT ABOVE 30200 TGT 30250 30350 SL BELOW 30100
SELL GOLD OCT BELOW 30050 TGT 30000 29900 SL ABOVE 30150

The partially convertible rupee is currently trading at 63.9850, stronger compared to its Friday’s close at 64.03. The rupee opened at 63.9600 and touched day’s high of 63.9875 and low of 63.9375.The September currency future was trading at 64.1425 with a spread of 0.0025 and a volume of 153100. The contract opened stronger at 64.0900 compared to its previous
closing of 64.1925. The open interest (OI) stood at 16,01,049 up by 0.37% compared to its previous close of 15,95,116.

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