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Morning News Call - India, November 28
November 28, 2017 / 3:35 AM / 17 days ago

Morning News Call - India, November 28

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    FACTORS TO WATCH
    10:30 am: Jet Airways Chairman Naresh Goyal at a press conference in Mumbai.
    12:30 pm: Shalby Ltd. initial public offering press conference in Mumbai.
    2:45 pm: Rajeev Kapoor, secretary, Department of Chemicals & Petrochemicals,
to address valedictory session at an event in New Delhi.
    3:00 pm: Apparel Exporters & Manufacturers Association’s press conference on
impact of GST on the sector in New Delhi.
    3:45 pm: Finance Minister Arun Jaitley to inaugurate the Paytm Payments Bank
in New Delhi.
    4:00 pm: Standard Chartered Bank's "Banking on Digitization" conference in
Mumbai.
    4:30 pm: Prime Minister Narendra Modi, Defense Minister Nirmala Sitharaman
and ICICI Bank MD Chanda Kochhar at Global Entrepreneurship Summit in Hyderabad.
    
    LIVECHAT- MONETARY POLICY. 
    Discuss the outlook for monetary policy in the year ahead and interest rate
futures with Dr. Lee Smales, associate professor with Curtin University's
Graduate School of Business at 2:30 pm IST. To join the conversation, click on
the link: here
    
    
    INDIA TOP NEWS
    • Adani hopes for govt coal mine loan fade after Australian election
    India's Adani Enterprises Ltd faces a likely block on a A$900 million
government loan to help build a giant coal mine in Australia, with the
left-leaning Labor Party on track for re-election in a state poll.
    • Indian steel firms can meet railways' needs - government panel
    Indian steel companies can meet the needs of the country's railways and
local rail market entrants such as Jindal Steel and Power Ltd should be given a
chance, a government panel said in a document seen by Reuters.
    • ICEX launches 50-cents diamond futures contract
    The Indian Commodity Exchange on Monday launched 50-cents diamond futures
contracts, the exchange said in a statement.
    
    
    GLOBAL TOP NEWS
    • Japan detects radio signals pointing to possible N.Korea missile test -
source
    Japan has detected radio signals suggesting North Korea may be preparing for
another ballistic missile launch, although such signals are not unusual and
satellite images did not show fresh activity, a Japanese government source
said.
    • SoftBank offering to buy Uber shares at 30 percent discount -source
    Japan's SoftBank Group Corp is offering to purchase shares of Uber
Technologies Inc at a valuation of $48 billion, a 30 percent discount to its
most recent valuation of $68.5 billion, a person familiar with the matter said
on Monday.
    • Trump's tax bill faces potential Senate Republican opposition
    A U.S. Senate Republican tax bill strongly backed by President Donald Trump
faced potential opposition on Monday from two Republican lawmakers who could
prevent the sweeping legislation from reaching the Senate floor.

    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 10,403.00, trading down 0.14 percent
from its previous close.
    • Indian government bonds are expected to gain as the federal government
will this week repurchase up to 300 billion rupees of three sovereign notes
maturing in 2018. The yield on the benchmark 6.79 percent bond maturing in 2027
is likely to trade in a 7.04 percent-7.08 percent band.
    • The Indian rupee will likely open little changed against the dollar, on
caution ahead of the Fed Governor Jerome Powell’s confirmation hearing as the
central bank's next chair later today and before a possible Senate vote on a key
U.S. tax plan later this week. 
    
    
    GLOBAL MARKETS
    • Wall Street's major indexes ended little changed on Monday, retreating
modestly from record highs set during the session, as gains for Amazon countered
losses in shares of energy companies.
    • Asian shares stepped back from decade highs as Chinese stocks stumbled for
a second straight session, while the U.S. dollar trod water ahead of a crucial
Senate vote on tax reform.
    • The dollar eased versus the yen and remained within sight of a two-month
low, with the near-term focus on a possible Senate vote on a U.S. tax plan later
in the week.
    • Treasury yields slipped on Monday in choppy trading, partly dragged down
by a combination of a pullback on Wall Street after hitting record highs
earlier, plus reports that North Korea may be preparing for another nuclear
missile test.
    • Oil prices slipped in early Asian trade amid uncertainty over a possible
extension of output cuts by major crude producers and expectations of higher
supply as the Keystone pipeline restarts.
    • Gold prices held near a six-week high hit in the previous session,
supported by a weaker dollar ahead of a congressional hearing on U.S. Federal
Reserve chair nominee Jerome Powell and a possible Senate vote on U.S. tax
reforms.
    
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         64.55/64.58  November 27      -$65.92 mln  $24.65 mln
 10-yr bond yield  7.14pct      Month-to-date    $2.56 bln    -$143.30 mln
                                Year-to-date     $8.20 bln    $25.80 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 = 64.4725 Indian rupees)

 (Compiled by Shradha Singh in Bengaluru)
  

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