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Morning News Call - India, November 16
November 16, 2017 / 3:38 AM / a month ago

Morning News Call - India, November 16

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    FACTORS TO WATCH
    09:00 am: State Bank of India MD B. Sriram, Asian Bankers Association
Chairman Daniel Wu, Bandhan Bank MD & CEO Chandra Shekhar Ghosh, RBL Bank MD &
CEO Vishwavir Ahuja at general meeting of Asian Bankers Association in Mumbai.
    09:30 am: Eicher Motors Chairman S. Sandilya, Food Ministry Joint Secretary
Suresh Kumar Vashishth at India Sustainability Standards conference in New
Delhi.
    10:00 am: Home Minister Rajnath Singh, Junior Home Minister Hansraj Gangaram
Ahir and Tata Power SED Chief Executive Rahul Chaudhary at International
Conference on Homeland Security in New Delhi.
    10:30 pm: Cabinet meeting likely. Agenda not known in New Delhi.
    12:00 pm: Power Minister R.K. Singh to launch ‘Saubhagya Portal' in New
Delhi.
    12:15 pm: IT Minister Ravi Shankar Prasad and Junior IT Minister Alphons
Kannanthanam to brief media on upcoming Global Conference on Cyber Space in New
Delhi.
    12:45 pm: MSME Ministry Secretary A. K. Panda at panel discussion on
promotion of khadi in Mumbai.

    
    LIVECHAT- REUTERS INVESTMENT SUMMIT
    We get an outlook for markets ahead of the new year with Mark Haefele,
Global Chief Investment Officer, UBS Wealth Management at 3:30 pm IST. To join
the conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • Top Indian investor Jhunjhunwala says steering away from IPOs 
A major Indian share investor, Rakesh Jhunjhunwala, said he is steering clear of
all initial public offerings for now as valuations have skyrocketed amid strong
inflows and exuberance in equity markets.
    • Apple to help India develop anti-spam app after face-off with regulator
Apple Inc has agreed to give limited help to the Indian government to develop an
anti-spam mobile application for its iOS platform, after refusing to do so based
on privacy concerns, according to sources and documents seen by Reuters.

    • India's Edelweiss launches up to $307 mln share sale to institutions
India's Edelweiss Financial Services Ltd has launched a share sale to
institutions to raise as much as 20 billion rupees, according to a deal term
sheet seen by Reuters on Wednesday.
    • Apple to help India develop anti-spam app after face-off with regulator
Apple Inc has agreed to give limited help to the Indian government to develop an
anti-spam mobile application for its iOS platform, after refusing to do so based
on privacy concerns, according to sources and documents seen by Reuters.

    • Apple to help India develop anti-spam app after face-off with regulator
Apple Inc has agreed to give limited help to the Indian government to develop an
anti-spam mobile application for its iOS platform, after refusing to do so based
on privacy concerns, according to sources and documents seen by Reuters.

    • Israel says received bids from Greek, Indian firms to explore offshore
Israel said on Wednesday it received bids to explore for oil and gas in its
economic waters from Greece's Energean and a consortium of Indian firms
including ONGC Videsh, Bharat PetroResources, Indian Oil Corp and Oil
India.
    • India advances launch of Euro-VI fuels for smog-hit Delhi
India advanced the rollout of cleaner Euro-VI compliant fuels in Delhi by two
years on Wednesday to reduce high pollution levels in the capital
city.
    • Climate action by China, India to offset Trump -study 
Global warming is likely to be slightly less severe than previously expected
thanks to stronger climate policies by China and India that will offset less
U.S. action under President Donald Trump, a study showed on Wednesday.


    
    
    GLOBAL TOP NEWS
    • Two U.S. Senate Republicans critical of party's tax plan
    A Senate Republican tax plan that would repeal the Obamacare mandate and
give permanent tax cuts only to U.S. corporations drew fire from two Republican
lawmakers on Wednesday in what could be a sign of trouble for the sweeping
measure.
    • Australia's Santos spurns $7.2 bln takeover approach
    Australian gas producer Santos Ltd said on Thursday it rejected a A$9.5
billion takeover approach in August, sending its shares up 13 percent on
speculation another offer was likely to emerge.
    • Australia jobless rate lowest since 2013, no boon for wages
    Australian employment rose for a 13th straight month in October, the longest
stretch of gains since the early 1990s, while the jobless rate dipped to its
lowest in over 4-1/2 years.

    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 10,152.00, trading up 0.06 percent
from its previous close.
    • Indian government bonds are likely to trade in a narrow range as crude oil
prices remain steady and investors await a fresh supply of notes tomorrow. The
yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in
a 7.00 percent -7.05 percent band.
    • The Indian rupee will likely open lower against the dollar, after upbeat
U.S. core inflation and retail sales data lifted expectations of a rate hike
next month, boosting demand for the greenback.

    
    
    GLOBAL MARKETS
    • U.S. stocks fell on Wednesday as energy sector shares dropped for a fourth
straight session, tracking crude prices, while a late run-up was thwarted by
concerns over the passage of a tax revamp after Republican senators were
critical of the proposal.
    • Asian shares got off to a cautious start after Wall Street stumbled
despite upbeat U.S. economic news and the Treasury yield curve hit its flattest
in a decade as investors priced in more U.S. rate hikes.
    • The Australian dollar bounced from near five-month lows on Thursday as a
mostly upbeat employment report triggered a round of short-covering, while its
New Zealand counterpart extended its recent decline.
    • The gap between U.S. short-dated and long-dated U.S. Treasury yields
contracted to its tightest in a decade after data showed a pickup in U.S.
underlying inflation and an unexpected rise in retail sales, as the market
priced in further interest rate hikes next year.
    • Oil markets were weighed down by rising U.S. crude production and
inventories, but prices were prevented from falling by expectations that OPEC
will extend an ongoing production cut during a meeting at the end of this
month.
    • Gold prices held steady as the dollar firmed after upbeat U.S. economic
data bolstered the prospects of interest rate increases next month and beyond.

    
    
                   CLOSE          FII INVESTMENTS  EQUITIES    DEBT
 PNDF spot         65.21/65.24    November 15      $58.38 mln  -$76.52 mln
 10-yr bond yield  7.13pct        Month-to-date    $1.89 bln   -$444.99 mln
                                  Year-to-date     $7.54 bln   $25.50 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 = 65.2600 Indian rupees)

 (Compiled by Nachiket Tekawade in Bengaluru)
  

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