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Morning News Call - India, July 5
2017年7月5日 / 凌晨3点16分 / 3 个月前

Morning News Call - India, July 5

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    FACTORS TO WATCH
    10:00 am: Mahindra Group Chairman Anand Mahindra at an event in Mumbai.
    12:00 pm: Mercedes launch event in Mumbai.
    12:00 pm: Power Minister Piyush Goyal to speak at an event in New Delhi.
    3:00 pm: Capital First annual shareholders meeting in Mumbai.
    5:00 pm: Finance Minister Arun Jaitley, SBI Chairman Arundhati Bhattacharya
at SBI Banking Conclave in Mumbai.
    6:30 pm: Finance Minister Arun Jaitley at an event in Mumbai.
    
    LIVECHAT - EM OUTLOOK
    As developed markets continue to have a turbulent time with political risk,
we take a look at emerging markets 20 years after the Asian Financial Crisis at
2:30 pm IST. To join the conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • NTPC bets $10 billion on coal power despite surplus, green concerns
    India's state-run power utility plans to invest $10 billion in new
coal-fired power stations over the next five years despite the electricity
regulator's assessment that thermal plants now under construction will be able
to meet demand until 2027.
    • Thyssenkrupp optimistic over Tata's UK pension deal but merger risks
remain
    Germany's Thyssenkrupp is optimistic about progress made by Tata Steel to
restructure its UK pensions liabilities, investors and analysts say, but there
are still issues to overcome before the two can merge their European steel
assets.
    • Snapdeal rejects $700-$800 million Flipkart bid -report
    The board of Indian online marketplace Snapdeal has rejected a bid worth
$700-$800 million from Flipkart after due diligence by its bigger rival, Mint
newspaper reported on Tuesday.
    • Indian Oil plans to buy North American sour crude for the first time
    India's top refiner has issued its first tender to buy high-sulphur, or
sour, crude from North America as it seeks to diversify imports, three trading
sources said on Tuesday.
    • Indian refiners tap spot crude market to feed increased capacity
    Indian companies have stepped up purchases of high-sulphur crude oil from
the Middle East and Russia in the spot market to feed demand from expanded
refining capacity, trade sources said.
    • Credit Suisse to transfer 58 IT jobs to outsourcing firm
    Credit Suisse has told 58 of its IT workers they will be transferred to
Indian computer services company HCL Technologies as Switzerland's second
biggest bank presses ahead with its cost cutting drive.
    
    
    GLOBAL TOP NEWS
    • North Korea says its ICBM can carry nuclear warhead; U.S. calls for global
action
    North Korea said its newly developed intercontinental ballistic missile can
carry a large nuclear warhead, triggering a call by Washington for global action
to hold it accountable for pursuing nuclear weapons.
    • China's services sector loses steam in June - Caixin PMI
    China's services sector grew at a slower pace in June as new orders slumped,
signalling renewed pressure on businesses after a pickup in May and pointing to
a softening outlook for the economy, a private business survey showed.

    • Pressure builds on Trump at home over pledge for closer Moscow ties
    During his presidential campaign, Republican Donald Trump praised Russian
President Vladimir Putin as a "strong leader" with whom he would like to reset
tense U.S.-Russian relations.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were at 9,621.50, down 0.03 percent from previous
close.
    • The Indian rupee will likely edge lower against the dollar in early trade,
amid subdued risk appetite on growing geopolitical tensions after North Korea
yesterday said it had conducted a successful test of its intercontinental
ballistic missile. 
    • Indian government bonds are expected to trade largely unchanged ahead of
debt auctions over the rest of the week, even as investors await the minutes of
the U.S. Federal Reserve’s latest meeting due later today. The yield on the
benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.52
percent-6.57 percent band today.
    
    
    GLOBAL MARKETS
    • Asian share markets got off to a subdued start as simmering tensions on
the Korean peninsula supported safe-harbours including the yen and gold.

    • The dollar slipped against the yen on concerns about rising tensions
between the United States and North Korea while the Canadian dollar held firm
after the nation's central bank chief backed an interest rate increase.
    • Oil markets were firm on worries over geopolitical tensions in the Korean
peninsula and the Middle East, although prices were capped as supply remains
ample despite an OPEC-led drive to rein in production.
    • Gold prices edged up as tensions on the Korean peninsula stoked safe-haven
demand for the metal, while the release of minutes from the U.S. Federal
Reserve's last meeting was also in focus.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         64.75/64.78  July 4           -$128.75 mln  -$116.33 mln
 10-yr bond yield  6.95         Month-to-date    --            -317.62 mln
                                Year-to-date     $8.45 bln     $17.68 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 = 64.73 Indian rupees)

 (Compiled by Benny Thomas in Bengaluru)
  

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