Epic Research Special Stock Market Report 18 September 2017

Global markets at a glance
Wall Street reached record highs on Friday, with the S&P 500 surpassing 2,500 points as telecommunications shares rose and technology bounced back after two days of declines.The S&P 500’s breach of the 2,500-mark came less than four months after it closed above 2,400, and brought 2017’s gain to nearly 12 percent. The S&P 500 information technology sector rose 0.30 percent, powered by an Nvidia-led surge in chipmakers, while Apple rose 1.01 percent in its first gain since unveiling new iPhones on Tuesday.

The Nifty50 futures on the Singapore Stock Exchange were trading 52 points higher at 10146 indicating a positive opening for the domestic market.

India’s forex reserves have now surpassed USD 400 billion. As per RBI, India’s forex reserves stood at USD 400.726 billion in the week ended September 8 on
account of rise in foreign currency assets. India’s Forex reserves have grown over 71 times in the last twenty six years and is enough to pay for all its imports for the coming ten months.

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 Solifenacin Succinate tablets (used to treat overactive bladders)

The international crude oil price of Indian Basket as computed today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 53.83 per barrel (bbl) on 13.09.2017. This was higher than the price of US$ 53.06 per bbl on previous publishing day of
12.09.2017. In rupee terms, the price of Indian Basket increased to Rs. 3443.89 per bbl on 13.09.2017 as compared to Rs. 3392.90 per bbl on 12.09.2017. Rupee closed weaker at Rs. 63.98 per US$ on 13.09.2017 as compared to Rs. 63.95 per US$ on 12.09.2017.

BUY GOLD OCT ABOVE 29000 TGT 29050 29150 SL BELOW 29900
SELL GOLD OCT BELOW 29800 TGT 29750 29650 SL ABOVE 29900

The dollar held firm near a seven-week high versus the yen on Monday, supported by recent rises in U.S. Treasury yields, while sterling stood tall, buoyed by growing expectations the Bank of England could raise interest rates
soon.The dollar edged up 0.3 percent against the yen to 111.17 yen JPY= , trading within sight of Friday’s peak at 111.33 yen, the dollar’s highest level since late July. While the dollar lost some steam on Friday after data
showed an unexpected drop in U.S. retail sales in August, it began the week on firm footing against the yen, following last week’s solid performance.

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