Epic Research Special Stock Market Report 08 September 2017

Global markets at a glance
Wall Street ended little changed on Thursday, as investors continued to tracking Hurricane Irma, which was bearing down on Florida on the heels of devastation in Texas caused by Hurricane Harvey. Economists said Harvey could weigh on US economic growth for the third quarter, though they did not this to delay the US Federal Reserve’s announcement of a plan at its meeting this month to start trimming its USD 4.2 trillion debt portfolio. Economists said Harvey could weigh on US economic growth for the third quarter, though they did not this to delay the US Federal Reserve’s announcement of a plan at its meeting this month to start trimming its USD 4.2 trillion debt portfolio.

MACRO NEW
The European Central Bank reaffirmed its ultra-easy policy stance on Thursday, even keeping the door open to increasing bond purchases if needed, despite the euro zone’s best economic run since the global financial crisis. The ECB also kept its rate on bank overnight deposits, which is currently its primary interest
rate tool, at -0.40 percent, as expected, reported Reuters.
Sebi has revoked ban on 307 entities, which had come under scanner between 2014-2016 for alleged manipulation and misuse of stock market platform for tax evasion. However, Sebi would continue its proceedings against 96 remaining debarred entities as multiple violations have been found in their case. These were among the entities that were barred through separate
interim orders by Sebi for alleged violation of rules purportedly for misuse of stock exchange platforms for tax evasion and other illicit gains.

STOCKS IN NEWS
Dixon Technologies IPO oversubscribed 4.25 times on second day
Bharat Road Network IPO subscribed 70% on Day 2
Orient Green Merger talks between wind energy companies IL&FS Wind Energy and Shriram Group’s Orient Green PowerBSE 0.34 % have hit a roadblock

COMMODITY ROUNDUP
Crude oil futures firmed, with Brent crude gaining 7 cents, or 0.1 percent, to USD 54.56 a barrel, while US crude edged up 2 cents to USD 49.11 per barrel.
Oil prices were little changed on Friday as the international petroleum industry remains in the grip of Caribbean hurricanes which have pummelled the region for the last two weeks.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $49.16 barrel at 0154 GMT, 7 centsabove their last settlement.
Brent crude futures LCOc1 , the benchmark for oil prices outside the United States, were up 11 cents to $54.60 a barrel.

TRADING STRATEGY:
BUY GOLD OCT ABOVE 30400 TGT 30450 30550 SL BELOW 30350
SELL GOLD OCT BELOW 30250 TGT 30200 30100 SL ABOVE 30300

CURRENCY MARKET UPDATE
A senior official at India’s capital markets regulator warned on Wednesday about the impact of “huge” foreign investments on the rupee INR=D2 and called for ways to manage the inflows through “a calibrated system.” The comments, from Securities and Exchange Board of India (SEBI) Whole-Time Member G. Mahalingam, delivered during a speech at a financial event, mark the strongest public comments this year from an Indian regulator about the effects of strong inflows in pushing up the currency.

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