Epic Research Special Stock Market Report 14 September 2017

Global markets at a glance
The Dow Jones Industrial Average rose rose 39.32 points, or 0.18 percent, to 22,158.18 The S&P 500 edged upgained 1.89 points, or 0.08 percent, to 2,498.37, and the Nasdaq Composite added 5.91 points, or 0.09 percent, to
6,460.19.Wall Street edged up to a record high on Wednesday as gains in consumer discretionary and energy stocks offset losses in technology heavyweight Apple Inc. Shares of Apple dropped 0.8 percent on concerns that the company’s newly launched iPhone X is too expensive and because its availability starting in November was later than expected.

Oil Minister Dharmendra Pradhan on Wednesday ruled out government intervention to disrupt the daily revision in petrol and diesel prices despite Rs 7.3 per litre spike in rates since July, saying the reform will continue.
A recent notification from the World Trade Centre (WTO) said that the country can no longer propose export subsidies, as its per capita gross national income (GNI) has crossed USD 1000 for the third year in a row, as reported by Hindu Business Line. This development could hurt the country’s exports, which
showed a frail growth last year after due to low demand.
The State Bank of India (SBI) has set up a new unit to settle insolvency cases, according to a CNBC TV-18 news report. The report states that this unit will officially handle all the cases that fall under SBI.

BPCL to invest Rs 1.08 lakh crore in 5 years to expand business operations
Hindalco looks to export alumina from Odisha unit
Cadila Healthcare gets tentative US FDA nod for So lifenacin Succinate tablets (used to treat overactive bladders)

Copper prices on the London Metal Exchange dipped lower again on Wednesday, with copper and zinc prices coming under increased pressure from further large stock deliveries. The three-month copper price has fallen a further 1% this morning as 32,550 tonnes were delivered into LME warehouses, the majority of the stock was delivered into Rotter dam with 1925 tonnes sent to Hull and the remaining 950 tonnes arriving in Busan. This follows 12425 tonnes of copper cathodes delivered on Tuesday as a fierce copper backwardation on the exchange collapsed. Cash to three-month is now trading at $43.75 contango.

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

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.The partially convertible rupee is currently trading at 64.0025, stronger compared to its Tuesday’s close at 64.04.

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