Epic Research Special Stock Market Report 29 December 2017

Global markets at a glance
US stocks were little changed in light trading on Thursday, as technology stocks continued to tread water and offset gains in financial stocks. Tech stocks slipped 0.04 percent and were on track for their sixth loss in seven sessions. The index has struggled somewhat to close out the year but remains the best- performing sector in 2017, up more than 37 percent.”Tech had such a great year, it is more likely to be just rebalancing rather than the beginning of any major trend,”
said Ed Keon, managing director and portfolio manager at QMA, a multi-asset manager in Newark, New Jersey.

Trends on SGX Nifty indicate a flat opening for the broader index in India. Nifty futures were trading around 10,500-level on the Singaporean Exchange.

Markets regulator SEBI on Thursday decided to relax entry norms for foreign portfolio investors (FPIs) willing to invest in the Indian markets.

Besides, SEBI would allow listing of security receipts issued by an asset reconstruction company (ARC) on stock exchange platform.

Capital and commodities market regulator SEBI board met today and paved the way for all stock exchanges to sell all products from October 2018, but it deferred its decision on disclosure of defaults by listed companies.

Tata Global Beverages (TGBL) has sold its stake in joint venture firm Estate Management Services Private Limited (EMSPL) for a consideration of Rs 120
The Committee of the Board at its meeting held on December 28, 2017 allotted 52,915 Rights Equity Shares of Rs.2/- each (in lieu of 10,583 equity shares of Rs.10/- each) to Mr. Koshy George and 3 others.

Gold prices were steady early on Thursday, holding onto gains from the previous session when they hit a 3-1/2 week high, as the dollar stayed on the back foot.Spot gold was little changed at $1,287.80 an ounce at 0051 GMT, having hit its highest since Dec. 1 at $1,289 in the previous session.US gold futures were steady at $1,291.20 an ounce.

BUY GOLD DEC ABOVE 29100 TGT 29150 29250 SL BELOW 29050
SELL GOLD DEC BELOW 28950 TGT 28900 28800 SL ABOVE 29050

The dollar held steady in Tuesday’s holiday-thinned trade, shrugging off upbeat Japanese economic data as market participants pondered about next year’s potential catalysts.Markets in Australia and Hong Kong remained closed after Monday’s Christmas holiday, and many financial centres in Europe will also be shut on Tuesday.

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