Epic Research Special Stock Market Report 13 September 2017

Global markets at a glance
The major Wall Street indexes hit record closing highs on Tuesday, with financial stocks leading the charge, but gains were stunted by a decline in Apple Inc shares after it unveiled its latest line of iPhones. The S&P 500, Dow Jones industrials and Nasdaq Composite clocked record closes, with investors drawn to riskier assets as concerns about U.S. tensions with North Korea eased and the financial impact from Hurricane Irma appeared less severe than was feared last week.After the closing bell, Nordstrom shares jumped 8.8 percent after reports that the high-end retailer chose private equity firm Leonard Green & Partners to help take the company private.

India’s factory output witnessed a tepid growth of 1.2 percent in July as compared with a contraction of – 0.1 percent in June amid expectation that production would have risen as companies began restocking and building fresh inventories after clearing up the stockpile in the previous month ahead of Goods and Services Tax’s roll out from July 1.
The Ministry of Corporate Affairs has disqualified 106,578 directors for their association with shell firms. This comes just a few days after bank accounts of
around 200,000 shell companies were frozen. The ministry has said action would also be taken against some members of the Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI), and other associations involved with these shell companies.

ONGC, Oil India to implement sedimentary basin data project
V2 Retail Q1FY18 Revenue up 31 percent at Rs 142cr vs Rs 108cr EBITDA up 28 percent at Rs 15.1cr vs Rs 11.8cr
Tata Global proposes to sell up to 1,05,00,000 Equity Shares of face value of Rs. 10/- each of Tata Chemicals Limited to Tata Sons

Crude oil futures traded marginally lower on MCX as investors looked ahead to the Organization of Petroleum Exporting Countries’ monthly report to assess global supply and demand levels. Crude oil prices weakened further as industry estimates of crude and refined product stocks from the American Petroleum Institute in the US ahead.The contract for September delivery was trading at Rs 3063.00, down by 0.33% or Rs 10.00 from its previous closing of Rs 3073.00. The open interest of the contract stood at 18694 lots.

BUY GOLD OCT ABOVE 30000 TGT 30100 30250 SL BELOW 29900
SELL GOLD OCT BELOW 29800 TGT 29700 29550 SL ABOVE 29900

The Indian rupee opened higher by 6 paise at 63.98 per
dollar on Wednesday versus 64.04 Tuesday.
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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