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Morning News Call - India, November 22
2017年11月22日 / 凌晨3点48分 / 22 天前

Morning News Call - India, November 22

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    FACTORS TO WATCH
    10:00 am: Civil Aviation Minister Ashok Gajapathi Raju and Junior Civil
Aviation Minister Jayant Sinha at Open House on Draft Drones Policy in New
Delhi. 
    10:00 am: Junior Consumer Affairs Minister C.R. Chaudhary at International
Conference on Direct Selling in New Delhi.
    10:00 am: Maruti Suzuki India Executive Vice President P. Panda, Dassault
Systemes India Vice President Transportation and Mobility Guillaume Gerondeau,
Honda Cars India Vice President R&D Tetsuya Miyake, Somany Ceramics Chairman
Shreekant Somany at CCI’s Automotive Technology event in New Delhi.
    10:30 am: Federal Cabinet likely to meet. Agenda not given in New Delhi.
    11:30 am: S&P Global Ratings conference call on Indian Banks credit quality
outlook in Mumbai.
    12:00 pm: Oil Minister Dharmendra Pradhan at National Policy on Biofuels in
New Delhi.
    
    LIVECHAT - FX FOCUS
    Investors raised their bullish bets on most Asian currencies over the past
two weeks, with long positions on the Malaysian ringgit at their highest since
March 2016, a Reuters poll showed, as the dollar came under pressure after
doubts about the prospects of U.S. tax reforms showed no signs of abating. Rahul
Karunakar, editor in-charge for Reuters Polling, joins us to discuss the
findings of the Reuters poll. To join the conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • India's SEBI asks for trading data as it probes WhatsApp messages - source
    India's market regulator has asked for trading data on companies mentioned
in a Reuters story last week about prescient messages on company earnings in
social media chatrooms, a person familiar with the matter told Reuters on
Tuesday.
    • Moody's upgrade boosts already growing confidence in Indian debt
    India's sovereign rating upgrade by Moody's is a shot in the arm for Indian
companies looking to raise funds in offshore bond markets.
    • Indians face higher power bills as govt mulls passing on green costs
    India is considering regulatory changes to let power companies pass on costs
of installing emission-cutting equipment to consumers, a government official
said, a politically sensitive proposal amid rising pollution in big cities.

    • Future Group plans expansion using Google, Facebook tech
    Indian fashion and retail conglomerate Future Group said on Tuesday it plans
to open 10,000 member-only stores by 2022, utilizing the technology and data of
Alphabet Inc's Google and Facebook Inc.
    • India asks state oil companies to boost gas supply to petcoke ban-hit
states
    India's oil minister on Tuesday asked state oil firms to boost supply of gas
and alternative fuels in states where petroleum coke and furnace oil are banned
due to high emissions.
    • India's ONGC buys 15 pct stake in Namibia offshore block from Tullow
    India's ONGC Videsh Ltd (OVL), the overseas investment arm of the country's
top explorer Oil and Natural Gas Corp, said on Tuesday it had acquired a 15
percent stake in Namibia's offshore Block 2012A from Tullow Oil.
    • India's North American coal imports highest since 2015, seen up further on
ban
    India's coal imports from North America quadrupled to 2.1 million tonnes in
October from a year ago, the highest since at least January 2015, Thomson
Reuters data showed, and buyers are looking to boost purchases amid a domestic
shortage of the fuel.
    • GAIL India to skip mid-term LNG deals for 2018 due to U.S. imports
    GAIL (India) Ltd will skip medium-term liquefied natural gas (LNG) deals for
2018 as it starts getting supplies from its U.S. portfolio from February, its
head of finance said.

    
    GLOBAL TOP NEWS
    • U.S. FCC chief plans to dump Obama-era 'net neutrality' policy
    The head of the U.S. Federal Communications Commission unveiled plans on
Tuesday to scrap landmark 2015 rules intended to ensure a free and open
internet, moving to give broadband service providers sweeping power over what
content consumers can access.
    • U.S. sanctions 13 Chinese and N.Korean organizations
    The United States on Tuesday imposed sanctions against 13 Chinese and North
Korean organizations Washington accused of helping evade nuclear restrictions
against Pyongyang and supporting the country through trade of commodities like
coal.
    • Zimbabwe's Mugabe resigns, ending four decades of rule
    Robert Mugabe resigned as Zimbabwe's president on Tuesday, a week after the
army and his former political allies moved to end four decades of rule by a man
once feted as an independence hero who became feared as a despot.

  
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 10,371.00, up 0.14% from its
previous close.
    • Indian government bonds are likely to remain little changed in early
trade, as investors may stay on the sidelines awaiting fresh global and local
cues. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to
trade in a 6.88 perent -6.92 percent band.
    • The Indian rupee will likely open slightly higher against the dollar, in
line with most Asian currencies, as U.S. treasury yields fell ahead of the
release of the Federal Reserve’s latest policy meeting minutes later today,
hurting greenback demand.

    
    
    GLOBAL MARKETS
    • U.S. stocks jumped on Tuesday, pushing all three major indexes to record
closing highs, led by gains in this year's top-performing technology sector.

    • Asian shares joined a global rally and scaled a fresh decade peak as
strong world growth and rising corporate profits lured hordes of investors into
equities, while oil prices jumped on expectations of a production cut.

    • The dollar dipped against its peers, weighed down as U.S. Treasury yields
failed to rise despite increasing investor risk appetite in broader financial
markets.
    • The U.S. Treasury yield curve flattened to its lowest in a decade on
Tuesday as investors awaited minutes from the Federal Reserve’s last meeting,
with no major economic releases due this week and trading subdued before the
U.S. Thanksgiving holiday.
    • Oil prices firmed after a reported fall in U.S. crude inventories and on
expectations that an OPEC-led production cut aimed at tightening the market will
be extended beyond March 2018.
    • Gold prices inched up as investors remained cautious ahead of the release
of minutes from the U.S. Federal Reserve's last meeting, which could offer hints
on the outlook for the central bank's monetary policy.
    
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         64.95/64.98  November 21      -$112.07mln  $193.71 mln
 10-yr bond yield  7.07pct      Month-to-date    $2.40 bln    -$75.03 mln
                                Year-to-date     $8.05 bln    $25.87 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 = 64.8700 Indian rupees)

 (Compiled by Nachiket Tekawade in Bengaluru)
  

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