Epic Research Special Stock Market Report 14 December 2017

Global markets at a glance
The S&P 500 ended slightly lower on Wednesday pressured by the financial sector after the Federal Reserve announced a widely expected interest rate hike but kept its rate outlook for coming years even as it projected faster US economic growth.The quarter-percentage-point rise in the overnight lending rate, which marked the third hike this year, came along with an increase to the Fed’s 2018 gross domestic product growth forecast to 2.5 percent from 2.1 percent. The Dow and the Nasdaq ended higher but the S&P could not sustain gains in choppy trading after the Fed statement.

The Nifty50 futures on the Singapore Stock Exchange were trading 44.5 points higher at 10266 indicating a positive opening for the domestic market. .
The Federal Reserve came through on a widely expected interest rate hike following its two-day policy meeting this week, while sharply raising its economic growth forecast for 2018. The move will push the target range to 1.25 percent to 1.5 percent. The rate is pegged to a wide variety of debt instruments, such as credit cards and adjustable-rate mortgages.However,
the burst may be short-lived. Growth is projected to come back down to 2.1 percent in 2019 and 2 percent in 2020, though both are above the respective 2
percent and 1.8 percent forecasts three months ago.

Syndicate Bank opens QIP with floor price of Rs 88.5/ share
Century Textiles grants right to Grasim India to manage, use and control VFY business for a duration of 15 years for royalty of Rs 600 crore

Gold futures for February delivery on the Comex division of the New York Mercantile Exchange fell 0.06% to $1,246.10 a troy ounce.Overnight, gold prices remained under pressure on Monday despite weakness in the dollar as data showed money managers slashed their bullish bets on the precious metal to a 17-week low ahead of a widely expected Federal Reserve interest rate hike.

BUY GOLD DEC ABOVE 28270 TGT 28320 28420 SL BELOW 28170
SELL GOLD DEC BELOW 28100 TGT 28050 27950 SL ABOVE 28200

The pound pared back gains against the dollar on Wednesday after the latest UK jobs report showed that pay growth picked up in the three months to October, but there was another drop in the number of people in employment.
GBP/USD was at 1.3346 by 05:22 AM ET (10:22 AM GMT),from around 1.3361 earlier.

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