Epic Research Special Stock Market Report 01 January 2018

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 negative opening for the broader index in India. Nifty futures were trading around 10,524-level on the Singaporean Exchange.

North Korea said on Saturday that it will never give up its nuclear weapons as long as the United States and its allies continue their “blackmail and war drills” at its doorstep.

In its report Saturday, KCNA said North Korea had taken steps for “bolstering the capabilities for self- defense and pre-emptive attacks with nuclear force”
in the face of a continued “nuclear threat and blackmail and war drills” by the United States and its “vassal forces”, AP reported.

Public sector Punjab National Bank on Saturday announced raising interest rates by up to 1.25 per cent on domestic term deposits of up to Rs 10 crore
for different tenures, effective January 1, 2018.

Gold may not retain its sheen in 2018 even though the yellow metal gained by 12% in 2017, analysts feel. Gold prices were trading at one month high on Thursday as the dollar fell to a four week low. MCX Gold futures were up 98
points, or 0.34 per cent, at Rs 29,040 per 10 gram at around 11 am.In 2017, gold prices have gained by 12% in the international markets, while MCX gold has gained by 5.6 percent in the same time frame as rupee appreciation of 5.5 percent which capped the rally in the Indian markets.

BUY GOLD DEC ABOVE 29200 TGT 29150 29250 SL BELOW 29050
SELL GOLD DEC BELOW 29050 TGT 28900 28800 SL ABOVE 29050

The dollar fell to its lowest in over three months against a basket of major currencies on Friday, marking its steepest annual drop since 2003, on doubts over durability of a pickup in U.S. economic growth in wake of last week’s tax
overhaul.The dollar index was at a 14-year peak at the start of 2017 on hopes for U.S. President Donald Trump’s pro-growth economic agenda.

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