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3 个月前
Morning News Call - India, April 26
2017年4月26日 / 凌晨3点17分 / 3 个月前

Morning News Call - India, April 26

7 分钟阅读

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    FACTORS TO WATCH
    10:00 am: Junior Shipping Minister M.L. Mandaviya at an event in New Delhi.
    10:00 am: MNRE Secretary Rajeev Kapoor and REC MD PV Ramesh at Wind energy
conference in New Delhi.
    2:00 pm: Railways Minister Suresh Prabhu at an event in New Delhi.
    5:15 pm: Axis Bank post earnings conference call in Mumbai.
    
    LIVECHAT - FX FOCUS with Mark Farrington, Potfolio Manager and Head of Macro
Currency Group
    Global currency pairs continue to brace for severe volatility on a host of
upcoming political events. Consensus trades of a strong USD and short EM
currencies at the beginning of 2017 haven't exactly followed textbook patterns.
We speak to Mark Farrington who is Portfolio Manager at Macro Currency Group, at
12:30 pm. MCG won the currency manager of the year at the European Pensions
Awards for 2016 and is nominated in three categories for the Pension Age Awards
2017. To join the conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • Wipro growth forecast hit by healthcare, weak retail
    Wipro Ltd, India's third-biggest software services exporter, said
cancellations of healthcare projects and weak retail spending in its key U.S.
market would hit revenue growth.
    • Indian farmers should pay tax, adviser says, challenging government
    A senior adviser to the Indian government proposed on Tuesday that farmers
pay tax, in remarks that challenged government policy in a country of 1.3
billion people where there are only 37 million income tax payers.
    • India's IRB InvIT Fund seeks up to $724 million in IPO
    India's IRB InvIT Fund is seeking to raise as much as 46.5 billion rupees
($723.6 million) in an initial public offering next week, kicking off the
first-ever listing of an infrastructure investment trust in the country.

    • IDFC Bank Q4 net profit rises on higher interest income
    India's IDFC Bank Ltd reported a 7 percent rise in fourth-quarter net profit
on Tuesday, helped by an increase in interest income and a drop in provisions
for bad loans.
    • Falling demand to curb Indian sugar imports -ISMA
    Declining sugar sales in India, the world's biggest consumer, has left the
country with enough stocks until the next crop, the Indian Sugar Mills
Association said on Tuesday, ruling out the need for more imports later in the
year.
    • Japan's Otsuka aims to apply for TB drug approval in India in 90 days
    Japanese drugmaker Otsuka Pharmaceutical aims to apply for approval of its
tuberculosis (TB) drug delamanid in India within three months, a senior company
official said, as calls grow for expanded access to the life-saving medicine.

    • Shapoor Mistry resigns from Indian Hotels board
    Shapoor Mistry, the elder brother of former Tata Sons Chairman Cyrus Mistry,
has resigned as a director of the board of Indian Hotels Co, the company said on
Tuesday.
    
    
    GLOBAL TOP NEWS
    • U.S. moves THAAD to S.Korean site as N.Korea boasts fire power
    The U.S. military started moving parts of the controversial THAAD
anti-missile defence system to a deployment site in South Korea amid high
tensions over North Korea's missile and nuclear programmes.
    • U.S. judge blocks Trump order to restrict funding for 'sanctuary cities'
    A U.S. judge on Tuesday blocked President Donald Trump's executive order
that sought to withhold federal funds from so-called sanctuary cities, dealing
another legal blow to the administration's efforts to toughen immigration
enforcement.
    • Trump to meet Australian PM, relations strained over asylum seekers
    U.S. President Donald Trump will meet with Australian Prime Minister Malcolm
Turnbull on May 4 in New York City as the two nations seek to repair a
relationship strained by a row over an asylum seeker resettlement deal.

    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The Indian rupee is likely to open slightly lower against the dollar,
in-line with most Asian currencies, as upbeat new U.S. home sales data and
expectations that President Donald Trump will announce tax reforms later today
boosted demand for the greenback.
    • Indian government bonds will likely trade largely unchanged in early
session amid a lack of fresh cues on interest rates, even as investors await
developments on the Korean peninsula and the upcoming presidential polls in
France. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to
trade in a 6.90 pct - 6.96 pct band today.
    
    
    GLOBAL MARKETS
    • The Nasdaq Composite hit a record high on Tuesday, while the Dow and S&P
500 brushed against recent peaks as strong earnings underscored the health of
corporate America.
    • Asian stocks extended gains for a fifth straight day as Wall Street hit
new peaks while the euro consolidated recent gains as immediate concerns of
political uncertainty in the euro zone receded.
    • The yen edged lower, remaining under pressure as risk sentiment improved
and safe haven demand eased, on relief over the first round of the French
presidential election.
    • U.S. Treasury yields rose on Tuesday in line with gains in stocks as
investors awaited President Donald Trump's announcement on tax reform on
Wednesday and remained optimistic that the government would avert a shutdown.

    • Oil prices resumed their downward trend as data showed a rise in U.S.
crude inventories and record supplies in the rest of the world cast doubt on
OPEC's ability to cut supplies and tighten the market.
    • Gold dipped to a two-week low after a near 1 percent decline in the
previous session as increased investor appetite for risk boosted equities and
dulled demand for safe-haven assets.
    
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         64.26/64.29  April 25         $27.83 mln    $2.96 mln
 10-yr bond yield  7.16         Month-to-date    -$208.49 mln  $3.99 bln
                                Year-to-date     $6.57 bln     $9.46 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 = 64.26 Indian rupees)

 (Compiled by Sai Sharanya Khosla in Bengaluru)
  

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