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Epic Research Special Stock Market Report 20 September 2017



Global markets at a glance
The Dow Jones Industrial Average rose 39.45 points, or 0.18 percent, to 22,370.8, clocking its sixth straight record close. The S&P 500 gained 2.78 points, or 0.11 percent, to 2,506.65, hitting its fifth record closing high in the last six sessions.The US central bank is expected to announce when it will begin paring its bond holdings, and while a September interest rate increase is not expected, investors will closely study Fed Chair Janet Yellen's views on inflation for clues whether the Fed will raise rates in December.Asian shares edged down slightly on Wednesday as investors awaited monetary policy news coming at the conclusion of the US Federal Reserve's two-day meeting.

MACRO NEW
ICICI Lombard General Insurance Company's Rs 5,700- crore initial public offering has been oversubscribed 2.98 times on Tuesday (the final day), as per data available on exchanges. The reserved portion of qualified institutional investors has oversubscribed 8.17 times while the retail category showed a subscription of 1.22 times and non-institutional investors 0.82 times.
On September 20, the capital market will see India's first billion-dollar initial public offering (IPO) since 2010. SBI Life Insurance, a subsidiary of the country's largest lender SBI, will hit the market on to raise up to Rs 8,400 crore. The IPO, which has a price band of Rs 685 to Rs 700 per share, is expected to be the largest in the insurance space as on Tuesday.

STOCKS IN NEWS
Cadila in pact with Russian firm for chickenpox vaccineRostec inks pact with mylan labs for HIV drugs
Bodhtree Consulting bags order worth Rs100cr from Medical Council of India
PVR creates new premium sub-brand – Premium Extra Large

COMMODITY ROUNDUP
The international crude oil price of Indian Basket as computed today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 53.83 per barrel (bbl) on 13.09.2017. This was higher than the price of US$ 53.06 per bbl on previous publishing day of
12.09.2017. In rupee terms, the price of Indian Basket increased to Rs. 3443.89 per bbl on 13.09.2017 as compared to Rs. 3392.90 per bbl on 12.09.2017. Rupee closed weaker at Rs. 63.98 per US$ on 13.09.2017 as compared to Rs. 63.95 per US$ on 12.09.2017.

TRADING STRATEGY:
BUY GOLD OCT ABOVE 29700 TGT 29750 29850 SL BELOW 29650
SELL GOLD OCT BELOW 29550 TGT 29500 29400 SL ABOVE 29600

CURRENCY MARKET UPDATE
The rupee extended its loss for the second straight day by tumbling 20 paise to nearly two-month low of 64.33 a dollar on sustained demand for the American currency from importers amid higher greenback overseas, The dollar edged up against a basket of currencies on Wednesday as investors awaited the outcome of the Federal Reserve's meeting at which it was expected to announce plans to trim its $4.2 trillion in bond holdings.The dollar index, which tracks the greenback against a basket of six major rivals, added 0.1 percent to 91.855 .DXY ,holding well above its more than 2-1/2 year low of 91.011 plumbed on Sept. 8.

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News Release: Epic Research Special Stock Market Report 20 September 2017
Submitted on: September 20, 2017 05:15:14 AM
Submitted by: EpicResearch
On behalf of: www.epicresearch.co/equity/stock-tips
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