April 8, 2019 / 3:20 AM / 2 months ago

Morning News Call - India, April 8

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    INDIA TOP NEWS
    • Pakistan says it has intelligence of new Indian attack this month
Pakistan has "reliable intelligence" that India will attack again this month,
its foreign minister said, drawing condemnation from New Delhi which described
the claim as irresponsible.

    • RBI says not yet approved merger of Lakshmi Vilas and Indiabulls Housing
RBI said it has not yet approved a merger proposal of private-sector lender
Lakshmi Vilas Bank and Indiabulls Housing Finance.

    • Stake sale in troubled Jet Airways may get delayed- newspaper
Lenders to India’s troubled Jet Airways may have to wait a little longer to sell
a stake in the carrier, as they need more clarity from the country's central
bank, the Business Standard newspaper reported on Sunday.

    • Bank Of India looks to divest insurance JV stake worth about $160 mln
State-run Bank of India on Friday offered to sell a 25 percent stake in its
joint venture company with Union Bank Of India and Japan's Dai-ichi Life
Holdings for up to 11.06 billion rupees.

    • India's Metropolis Healthcare $174 mln IPO over subscribed
Metropolis Healthcare's initial public offering (IPO) to raise as much as 12.04
billion rupees was over subscribed 5.8 times at the end of the book-running
process, stock exchange data showed on Friday.

        
    GLOBAL TOP NEWS
    • U.S. Homeland Security Secretary Nielsen resigns amid Trump anger over
border
U.S. Homeland Security Secretary Kirstjen Nielsen, who oversaw President Donald
Trump's bitterly contested immigration policies during her tumultuous 16-month
tenure, resigned on Sunday amid a surge in the number of migrants at the border
with Mexico.

    • Compromise? Time ticking down for Britain to come to Brexit agreement
Britain's government held out the possibility of compromise with the opposition
Labour Party on Sunday to try to win support in parliament for leaving the
European Union with a deal, just days before the latest Brexit date.


    • Nissan considering claiming damages against Ghosn, CEO says
Nissan Motor is considering claiming damages against ousted boss Carlos Ghosn
over alleged financial misconduct, the automaker's chief executive told
shareholders on Monday, adding the scandal would not be fixed overnight.


    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were little changed, trading at 11,775.50,
from its previous close.

    • The Indian rupee, tracking regional peers, is expected to open lower
against the dollar after U.S. job additions topped estimates.

    • Indian federal government bonds are likely to fall in early trade tracking
a jump in crude oil prices. The yield on the benchmark 7.26 percent bond
maturing in 2029 will likely trade in a 7.35 percent-7.40 percent band today.
    
    
    GLOBAL MARKETS
    • U.S. stocks rose on Friday, boosted by better-than-expected job growth in
March, which eased concerns of an economic slowdown that have periodically
roiled financial markets over the past year.
    • Asian shares inched up to seven-month highs as investors cheered a rebound
in U.S. payrolls and hints of more stimulus in China, though there was some
caution ahead of what is likely to be a tough U.S. earnings season.
    • The dollar retained modest gains after a U.S. jobs report put to bed fears
of a sharper slowdown in the world's largest economy.
    • The gap between yields of longer-dated and shorter-dated U.S. Treasury
yields narrowed on Friday as data showed wage growth slowed in March even as
employers added more workers, evidence that inflation remained tame.
    • Oil prices rose to their highest level since Nov. 2018, driven up by
OPEC's ongoing supply cuts, U.S. sanctions against Iran and Venezuela and strong
U.S. jobs data.
    • Gold was little changed as strong U.S. jobs data boosted investors'
appetite for riskier assets, with markets awaiting minutes of the Federal
Reserve's March meeting later this week.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         69.24/69.27  April 5          $115.38 mln  -$87.91 mln
 10-yr bond yield  7.35 pct     Month-to-date    $1.30 bln    -$1.01 bln
                                Year-to-date     $8.14 bln    -$1.46 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 = 69.16 Indian rupees)

 (Compiled by Avina Ajit in Bengaluru)
  
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