Epic Research Special Stock Market Report 05 October 2017

Global markets at a glance
US stocks edged up to extend their run of record closing highs on Wednesday as data on the services sector added to signs of strength in the economy and prospects for earnings.It was the third straight session where all three major
indexes hit record closing highs, though the small-cap Russell 2000 broke its string of eight all-time high finishes, ending down 0.3 percent.Market gains were limited as a decline in oil prices weighed on energy shares, and the S&P
information technology index , up about 26 percent this year, posted its first drop in seven sessions. The S&P energy index was down 0.1 percent and the technology index was down 0.2 percent.

The Nifty50 futures on the Singapore Stock Exchange were trading 21.50 points lower at 9926 indicating a flat opening for the domestic market.
Rajnish Kumar was announced as the new State Bank of India (SBI) Chief with a three-year-tenure on Wednesday. He has been serving as the nominee Di-
rector on the Board of SBI since April 26, 2016. Kumar had assumed charge as Managing Director (National Banking Group) on November 2, 2015, prior to which he was the Managing Director (Compliance & Risk) from May 2015.

Mindtree board meeting on October 25 to consider special dividend and results
Zydus gets US nod to market anti-diuretic nasal spray

Gold and silver were trading higher in yesterday morning trade after the US dollar weakened against a basket of currencies. MCX Gold futures were trading 0.15 per cent, or Rs 45, up at Rs 29,400 per 10 gram around 10.30 am (IST), while MCX Silver futures up 0.43 per cent, or Rs 168, at Rs 39,496 per 1 kg. The US dollar on Wednesday slipped by 0.2 percent against a basket of major currencies after touching its best since mid-August on Tuesday.According to experts, markets will watch for the more important Non-Farm payrolls data due this week apart from President Donald Trump’s pending decision on the leadership of the Federal Reserve, along with upcoming policy maker speeches and US economic data.

Trading Recommendations
BUY GOLD OCT ABOVE 29650 TGT 29700 29800 SL BELOW 29550
SELL GOLD OCT BELOW 29450 TGT 29400 29300 SL ABOVE 29550

The dollar stepped back from a 1-1/2-month high against a basket of currencies on Wednesday on speculation that US President Donald Trump’s choice for the next Fed chair could be a less hawkish candidate than some had expected. US Treasury Secretary Steven Mnuchin favours Fed Governor Jerome Powell over former governor Kevin Warsh, Politico reported. Both Warsh and Powell were interviewed at the White House last week.

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