Epic Research Special Stock Market Report 19 September 2017

Global markets at a glance
The S&P 500 ended slightly higher on Monday as financial stocks rose ahead of a Federal Reserve meeting, but the Nasdaq pared gains sharply as technology stocks lost ground late in the session. Five of the 11 major S&P sectors ended lower. Rising US Treasury yields boosted financial stocks, as higher interest
rates tend to lift bank profits, but rate-sensitive sectors such as utilities were the weakest. The Fed meeting, which starts Tuesday, is expected to yield details on how the central bank will unwind its USD 4.2 trillion portfolio of Treasuries and mortgage-backed securities, nearly a decade after the global financial crisis.

MACRO NEW
New India Assurance Company Ltd has received Sebi approval to float initial public offer (IPO), as per the latest update by the capital markets regulator. According to the draft papers, the government will be selling 9.6 crore shares, whereas the company itself will be selling 2.4 crore shares through the IPO.
Sebi on Monday allowed Infrastructure Investment Trusts (InvITs) and Real Estate investment Trust (REITs) to raise capital by issuing debt securities. The board,after deliberations, decided to have further consultations with the stakeholders on a proposal of allowing REITs to invest at least 50 percent of the equity share capital.

STOCKS IN NEWS
Infosys enters into strategic partnership with CMA CGM group for 7 years .
JSW Steel gets nod for 2 iron ore mines in Karnataka.
Bharat Gears approves preferential issue to of 3.2 lakhs share to promoter

COMMODITY ROUNDUP
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.Gold futures declined on MCX as equities rallied and the dollar firmed, while prospects of monetary policy tightening in the US ahead of a Federal Reserve meeting also weighed on the metal.

TRADING STRATEGY:
BUY GOLD OCT ABOVE 29750 TGT 29800 29900 SL BELOW 29700
SELL GOLD OCT BELOW 29500 TGT 29450 29350 SL ABOVE 29550

CURRENCY MARKET UPDATE
The rupee surrendered its initial gains against the US dollar and ended lower by 5 paise to 64.13 on fag-end demand for the American currency from banks and importers on the back of higher greenback overseas. The dollar hovered near an eight-week high against the yen on Tuesday, supported as U.S. Treasury yields continued their sharp rebound from 10-month lows. The dollar stood little changed at 111.455 yen JPY= after climbing to 111.665 overnight, its highest since July 27.

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