Epic Research Special Stock Market Report 03 October 2017

Global markets at a glance
Asia markets were mixed in early trade on Tuesday, despite US equities closing at record highs overnight. Japan’s Nikkei 225 climbed 0.32 percent to 20,465.83 and the Topix index rose 0.39 percent to 1,680.11. In Australia, the ASX 200 dipped 0.31 percent to 5,711.70 in early trade. The Australian dollar traded at USD 0.7827, which was a level similar to last Friday. Traders will be looking ahead to the monetary policy decision from the Reserve Bank of Australia due at 2:30 p.m. local time.

MACRO NEWS
US again rejects talks with North Korea on nuclear issue
Militants attack BSF camp in Srinagar; 3 jawans injured
US biology trio wins Nobel Medicine Prize
Las Vegas shooting an ‘act of pure evil’: Donald Trump
GIC seeks CCI nod for Rs 9K cr deal with DLF promoters
Hero MotoCorp crosses 1 million sales mark this festive season
AIIB, ADB approve $100 mn loan for India’s power sector

STOCKS IN NEWS
Telecom Commission approves extension of deferred payment schedule to 16 years
SEBI Defers implementation of directive on companies informing bourses of loan default

COMMODITY ROUNDUP
Gold futures edged higher on MCX despite the hopes for a US tax reform plan and a rate hike before the end of the year continued to support demand for the US dollar. The contract for October delivery was trading at Rs 29630.00, up
by 0.07% or Rs 22.00 from its previous closing of Rs 29608.00. The open interest of the contract stood at 3164 lots. The contract for December delivery was trading at Rs 29828.00, up by 0.27% or Rs 79.00 from its previous closing
of Rs 29749.00.On Friday’s movement of the yellow metal, brokerage firm Angel Broking said, “We expect gold prices to trade sideways amid unce.

Trading Recommendations
BUY GOLD OCT ABOVE 29650 TGT 29700 29800 SL BELOW 29550
SELL GOLD OCT BELOW 29500 TGT 29450 29350 SL ABOVE 29600

CURRENCY MARKET UPDATE
The pound dropped against the U.S. dollar on Friday, after the release of downbeat UK economic growth data, while hopes for an upcoming U.S. tax overhaul continued to lend support to the greenback. GBP/USD was down 0.43% at 1.3383 by 04:45 a.m. ET (08:45 GMT), re-approaching
Thursday’s two-week lows of 1.3344. The UK Office for National Statistics reported on Friday that the UK gross domestic product expanded 1.5% in the second quarter, year over-year, down from a previous estimate of 1.7%. On a
quarterly basis, the UK economy grew 0.3% in the three months to June, in line with analysts’ expectations.

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