Epic Research Special Stock Market Report 22 September 2017

Global markets at a glance
The Dow Jones Industrial Average fell 53.36 points, or 0.24 percent, to 22,359.23, the S&P 500 lost 7.64 points, or 0.30 percent, to 2,500.6 and the Nasdaq Composite dropped 33.35 points, or 0.52 percent, to 6,422.69.US stock indexes slipped on Thursday as investors braced for a third interest rate hike this year and the United States ordered new sanctions against North Korea.The S&P and the Dow snapped a run of record closing highs and Apple was the biggest dragon the three major indexes with a 1.7 percent drop on worries about demand for its latest smartphone.

The Nifty50 futures on the Singapore Stock Exchange were trading 50 points lower at 10090 indicating a negative opening for the domestic market.
The initial share sale offer of SBI Life Insurance Company was subscribed 58 percent on the second day of bidding on Thursday. The initial public offer (IPO),
which aims to raise Rs 8,400 crore, received bids for 5,08,79,178 shares against the total issue size of 8,82,00,000 shares.

KNR Construction bags order worth Rs 884 crore to be completed in 18 months
Indian Bank raises Rs 2,000 crore out of the Rs 5,000 crore approved by the board
Airtel gets shareholder nod for scheme of amalgamation with Telenor

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 29700 TGT 29750 29850 SL BELOW 29600
SELL GOLD OCT BELOW 29500 TGT 29450 29350 SL ABOVE 29600

The rupee on Thursday plummeted by a whopping 54 paise to end at 64.81 a dollar after the Federal Reserve left the door open for a rate hike in December. This was the lowest level the domestic currency had seen since July 3 this
year, when it had closed at 64.88 against the US dollar,The dollar edged lower against the other major currencies in subdued trade on Thursday, but it remained supported at one-week highs by the release of strong U.S. data and by news of a potential rate hike this year by the Federal Reserve.The People’s Bank of China set the yuan mid-point at 6.5867 against the dollar on Friday, compared to the previous close of 6.5922.

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