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Morning News Call - India, June 2

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    FACTORS TO WATCH
    5:00 pm: RBI to release weekly foreign exchange data in Mumbai.
    5:30 pm: RBI Deputy Governor S.S. Mundra at Mint South India Banking
conclave in Bengaluru.
    
    GMF: LIVECHAT - WEEKAHEAD
    Reuters EMEA markets editor Mike Dolan discusses the upcoming week's main
market inflection points at 3:30 pm IST. To join the conversation, click on the
link: here
    
    
    INDIA TOP NEWS
    • After India's growth slumps, finance minister looks to GST for lift
    India's economy should get a lift from the launch of a new sales tax,
Finance Minister Arun Jaitley said on Thursday, putting a brave face on a
slowdown in growth that followed a government crackdown on "black money".

    • Indian factory growth slows to 3-month low in May as new orders soften
    Indian factory growth cooled in May as new orders expanded at a more modest
pace, but manufacturers were able to raise prices slightly, according to a
private survey.
    • Russia signs deal to expand India's Kudankulam nuclear plant
    Russia signed an agreement with the Indian government on Thursday to build
two new reactors for the Kudankulam nuclear power station in Tamil Nadu and said
it would loan India $4.2 billion to help fund construction.
    • Civil aviation ministry to decide on Air India privatisation - finmin
    India's civil aviation ministry will decide on ways to privatise state-run
carrier Air India following suggestions by the country's planning body, Niti
Aayog, Finance Minister Arun Jaitley told reporters on Thursday.
    • Indian farmers strike; curb milk, vegetable supply to Mumbai
    Farmers from India's western state of Maharashtra started an indefinite
strike on Thursday, curtailing the supply of vegetables, fruits and milk to
cities such as Mumbai in a move that could push up food prices in the coming
days.
    • SREI says to ink $500 million venture with Russia's VEB
    India's SREI Infrastructure Finance hopes to sign a $500 million joint
venture this week with Russian state lender VEB to finance exports of equipment
to India, managing director Hemant Kanoria said on Thursday.
    
    
    GLOBAL TOP NEWS
    • Trump abandons global climate pact; allies voice dismay
    President Donald Trump said on Thursday he would withdraw the United States
from the landmark 2015 global agreement to fight climate change, a move that
fulfilled a major campaign pledge but drew condemnation from U.S. allies and
business leaders.
    • Gunman kills himself after suspected robbery in Philippines casino -
police
    A gunman killed himself after bursting into a Manila casino, firing shots
and setting gaming tables alight, Philippine police said, sowing panic in a
country on high alert due to a bloody, 10-day battle with Islamist militants in
the south.
    • Ex-FBI chief Comey to testify next week in Russia probe 
    Former FBI Director James Comey will testify next Thursday before a U.S.
Senate panel investigating Russia's alleged meddling in the 2016 U.S. election,
in a hearing that could add to difficulties facing President Donald Trump.

    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    The SGX Nifty Futures were trading at 9,673.00, up 0.43 percent from its
previous close.
    The Indian rupee is poised to edge higher against the dollar amid
expectations of foreign fund inflows, as local shares are seen tracking advances
in global equities.
    Indian government bonds will likely rise, as investors wager the central
bank will adopt a ‘dovish’ policy stance next week after a drastic deceleration
in the nation’s GDP growth and inflation. The yield on the benchmark 6.79
percent bond maturing in 2027 is likely to trade in a 6.60 percent-6.66 percent
band today.
    
    
    GLOBAL MARKETS
    • U.S. stocks advanced on Thursday, with each of the major U.S. indexes
notching record highs, after a batch of economic data suggested the economy was
picking up speed.
    • Asian stocks edged up and the dollar bounced from recent lows as upbeat
data on U.S. manufacturing and employment and buoyant European factory growth
boosted investor optimism.
    • The dollar hit a one-week high against the yen after upbeat U.S. private
sector job figures, while the closely-watched non-farm payrolls report out later
in the global day could provide another boost.
    • U.S. short-dated Treasury yields briefly touched at least one-week highs
on Thursday after strong data on U.S. private payrolls marginally boosted
expectations for more Federal Reserve interest rate increases in 2017, while
caution ahead of Friday's jobs report limited the move.
    • Oil prices dropped nearly 1 percent in early Asian trade, dragged down by
ongoing concerns over a global glut in crude supply despite a
bigger-than-expected draw in U.S. crude inventories.
    • Gold inched lower as Asian stocks and the dollar firmed after upbeat U.S.
private sector job figures appeared to boost the prospects for an interest rate
hike this month.
        
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         64.45/64.48  June 1           -$80.24 mln  $115.71 mln
 10-yr bond yield  6.99         Month-to-date    $1.54 bln    --
                                Year-to-date     $7.98 bln    $13.56 bln
 
    
    For additional data:
    India govt bond market volumes                 
    Stock market reports                
    Non-deliverable forwards data              
    Corporate debt stories               [IN CORPD]
    Local market closing/intraday levels [IN SNAPSHOT]
    Monthly inflows                      [INFLOWS RTRS TABLE IN]
 


($1 = 64.47 Indian rupees)
我们的标准: 汤森路透“信任原则

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