Epic Research Special Stock Market Report 20 June 2017
Global markets at a glance
The Dow Jones Industrial Average rose 144.71 points, or 0.68 percent, to end at 21,528.99, the S&P 500 gained 20.31 points, or 0.83 percent, to 2,453.46 and the Nasdaq Composite rose 87.26 points, or 1.42 percent, to 6,239.01. US stocks rose on Monday, with the S&P 500 and the Dow hitting record highs with growth sectors such as technology in favor again as investors appeared to regain confidence in the economy after upbeat comments from Federal Reserve officials.
Reliance Infrastructure, IL&FS in focus — Realty and infra majors in race for upgrading 5 railway stations in Mumbai
Ashoka Buildcon in focus — SBI Macquarie looks to exit Ashoka arm
-Edelweiss arm files bankruptcy case against Mumbai realtor Kohinoor
Fortis Healthcare promoter sold 2 million shares of company via open mkt on Friday
ONGC in focus — OVL shortlisted for oil, gas field auction in Mexico
Bhushan Steel & Bhushan Power receive Insolvency and Bankruptcy Code notice
PNB to hold joint lenders forum On June 22
Lanco Infratech is the first firm from the blacklist to face bankruptcy action
GAIL cancels tender over policy to buy local steel
Biocon allots bonus shares in the ratio of 1:2
STOCKS IN NEWS
JP Morgan considered Tata Steel to be ideally positioned as a stock given the confluence of global industry tailwinds, domestic tailwinds and company restructuring.
VA Tech has received 2 bids for Haridwar & Varanasi
in this month, and also has bid for the initial two projects under Namami Gange project.
Shares of Adani Ports rose nearly 3 percent intraday on Monday after a ratings upgrade from Moody’s.
Zinc futures were trading higher during evening trade in the domestic market on Monday as investors and speculators extended their positions in the industrial metal on rising steel prices and as inventories of the metal used to galvanise steel hit a nine-year low highlighting a potential shortage of metal. In April China’s refined zinc output fell to its lowest in more than 2 years due to mine closures.
BUY GOLD ABOVE 28750 TGT 28850 /29000 SL BELOW 28620
SELL GOLD BELOW 28550 TGT 28450/28300 SL ABOVE 28700
CURRENCY MARKET UPDATES
The Indian Rupee is trading flat today though the gains in local equities are keeping the undertone supportive for the local currency. The local interback market saw the INR edge up around 64.30 levels before pulling near 64.40 per
US dollar mark. The pair had ended at 64.43 levels in last session.Japan posted a merchandise trade deficit of 203.367 billion yen in May, the Ministry of Finance said on Monday, following the 481.1 billion yen surplus in April.
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