Epic Research Special Stock Market Report 02 January 2018

Global markets at a glance
There were no fireworks on Wall Street for the last trading day of the year, as US stocks closed out their best year since 2013 on a down note, with losses in technology and financial stocks keeping equities in negative territory for
the session. Major indexes hit a series of record highs in 2017, lifted by
a combination of strong economic growth, solid corporate earnings, low interest rates and hopes for a tax cut from U.S. President Donald Trump’s administration.

Trends on SGX Nifty indicate a negative opening for the broader index in India. Nifty futures were trading around 10,507 on the Singaporean Exchange, a fall of
0.49 percent.

Retail inflation for industrial workers rose to 3.97 per cent in November, 2017 mainly due to surge in prices of food items, kerosene and cooking gas.

Eight core sectors grew by 6.8 percent in November 2017, mainly helped by a robust performance in segments like refinery, steel and cement, official data
showed on Monday.

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.

The Index opened at 10,531 rose to an intraday high of 10,537 but then bears took control and pushed the index below 10,500 to touch its intraday low of 10,423. The index finally closed 95 points lower at 10,435.According to Pivot charts, the key support level is placed at 10,393.13, followed by 10,350.77.

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.One of the most dramatic market developments in 2017 was the breath-taking rise of bitcoinBTC=BTSP and other cryptocurrencies. While they have pulled back at year-end, many of these digital currencies have surged in value this year.

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