Epic Research Special Stock Market Report 26 September 2017

Global markets at a glance
The Dow Jones Industrial Average fell 53.84 points, or 0.24 percent, to 22,295.75, the S&P 500 lost 5.56 points, or 0.22 percent, to 2,496.66 and the Nasdaq Composite dropped 56.33 points, or 0.88 percent, to 6,370.59. Wall Street dipped on Monday, as a selloff in technology shares weighed heavily on the Nasdaq, while the most recent statement from North Korea’s to Washington added to a cautious tone. North Korea’s foreign minister said President Donald Trump had declared war on the country and it reserved the right to take countermeasures, including shooting down US bombers even if they are not in its airspace.

The Nifty futures on the Singaporean stock exchange were trading lower by around 33 points at 9,850, a dip of around 0.34 percent. While this does not lead to a sure-shot similar move in India, but it does reveal the overall sentiment that the Street is likely to witness.
Prime Minister Narendra Modi on Monday constituted a new Economic Advisory Council, which will seek to address the nation’s macroeconomic issues.
NCLT begins insolvency proceedings against Amrapali Infrastructure.

Abbott-National Pharmaceutical Pricing Authority allows Abbott to withdraw Xience Alpine Coronary stents from India
TataMotors-JLR scouting for luxury brand acquisitions

Gold and silver edged higher in morning trade on Tuesday ahead of a two-day Federal Reserve meeting that kicks off later in the day.Gold prices recovered by Rs 350 to Rs 30,850 per 10 grams at the bullion market today, taking positive cues from the global market amid rupee falling to five-month low and increased buying by local jewellers.Silver ready bounced back by Rs 400 to Rs 40,700 per kg and weekly-based delivery by Rs 265 to Rs 39,930 per kg. Its coins, however, continued to be traded at previous levels of Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.

BUY GOLD OCT ABOVE 29650 TGT 29700 29800 SL BELOW 29550
SELL GOLD OCT BELOW 29550 TGT 29500 29400 SL ABOVE 29650

The rupee on Monday slid past the 65-mark for the second session in a row and ended at 65.12 to the dollar, 0.5 percent weaker than its previous close, as local equity markets fell for the fifth consecutive session. Dealers said that the fall was a result of massive recent outflows of foreign funds, both from equities and bonds, due to ongoing geopolitical tensions and a resultant risk-off
sentiment.Dealers also said that the market had largely built massive long positions on the rupee when it was trading between 63.50 and 64 to the dollar and therefore, any significant trigger would have resulted in a correction.

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