Epic Research Special Stock Market Report 20 December 2017

Global markets at a glance
US stocks fell on Tuesday as excitement over the likelihood of a tax code revamp was offset by concern over its effect on years of monetary policy stimulus and the future of interest rates.The US House of Representatives approved the tax
legislation in an afternoon vote. The Senate was expected to vote on the tax bill this evening. Republicans were confident of the bill being signed into law by the end of the week.Stocks added to losses after the vote, which followed weeks of market gains on optimism that tax cuts would boost US earnings and the economy. Some investors also said that much of those benefits were already reflected in stock prices.

The Nifty50 futures on the Singapore Stock Exchange were trading 18 points lower at 10451 indicating a flat to negative opening for the domestic market.

US securities regulators on Tuesday temporarily suspended trading in the shares of Crypto Company, a small firm that saw its stock rise more than 2,700
percent this month after signing a deal to buy a cryptocurrency data platform. It cited concerns about the “accuracy and adequacy of information” about the
Malibu, California-based company available to investors. The suspension will remain in place until January 3, Reuters reported.

Astron Paper and Board Mills’ initial public offer (IPO) was over-subscribed 12.39 times on the third day of issue on Tuesday.

Max Ventures gets shareholder nod for cancellation of area purchase agreement with Piveta Estates & Boulevard

Bharti Airtel: Cost of acquisition of Tigo Rwanda based on approx 6x EBITDA multiple

Gold prices edged higher on Monday, as the U.S. dollar pulled back despite mounting hopes that a major U.S. tax reform can be passed before the end of the year.Comex gold futures were up $2.10 or about 0.16% at $1,259.70 a troy ounce by 03:00 a.m. ET (07:00 GMT), just off Friday’s one-and-a-half week high of $1,264.50 hit. The greenback was initially lifted after Republicans on
Friday put the finishing touches on a sweeping tax overhaul bill.

BUY GOLD DEC ABOVE 28500 TGT 28550 28650 SL BELOW 28400
SELL GOLD DEC BELOW 28350 TGT 28300 28200 SL ABOVE 28450

Maintaining its upbeat momentum, the rupee today surged by 30 paise to hit a fresh 3-month high of 64.04 against the US dollar, with all exit polls on assembly elections suggesting the BJP retaining Gujarat and returning to power in Himachal Pradesh. This is the highest closing for the home currency since September 13, when it had closed at 64.00.Overall currency market sentiment turned extremely bullish after the exit poll outcomes predicted BJP’s win in Gujarat for the sixth time and a clean sweep in Himachal Pradesh elections.

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