Reuters logo
Morning News Call - India, May 16
May 16, 2017 / 3:18 AM / 7 months ago

Morning News Call - India, May 16

To access the newsletter, click on the link:
 
 here
    
    
If you would like to receive this newsletter via email, please register at: here
    
    
    FACTORS TO WATCH
    10:30 am: Railway Minister Suresh Prabhu, Telecom Minister Manoj Sinha at an
event in New Delhi.
    11:00 am: Civil Aviation Minister P. A. Gajapathi Raju at an event in
Mumbai.
    11:45 am: Future Group Head Kishore Biyani at a press meet in Mumbai.
    12:30 pm: Punjab National Bank earnings meet in New Delhi.
    2:15 pm: LIC press meet on launch of new product in Mumbai.
    1:00 pm: Transport Minister Nitin Gadkari at an event in New Delhi.
    5:15 pm: Tata Steel earnings meet in Mumbai.

    
    LIVECHAT - OPEC
    We get a preview of what to expect at OPEC's next meeting on May 25 with
Reuters correspondent Ahmad Ghaddar at  3:00 pm. To join the conversation, click
on the link: here
    
    
    INDIA TOP NEWS
    • Indian mining group Vedanta posts Q4 profit helped by higher revenu
    Vedanta Ltd, the Indian unit of diversified energy group Vedanta Resources
PLC, reported a consolidated quarterly profit, as revenue surged, driven by
improved commodity prices and higher zinc volumes.
    • India's April trade deficit widens to $13.25 bln - govt
    India's trade deficit widened for the second straight month in April to
$13.25 billion, on the back of higher crude oil and gold imports, compared with
$10.44 billion in the previous month, government data showed on Monday.

    • CPPIB to invest $500 mln in JV with India's IndoSpace
    Canada Pension Plan Investment Board (CPPIB), the country's biggest public
pension fund, said on Monday it would invest $500 million in a joint venture
with Indian property developer IndoSpace.
    • China, India surpass U.S. as most attractive renewables markets-report 
    China and India have surpassed the United States to become the two most
attractive countries for renewable energy investment, a report by UK accountancy
firm Ernst & Young showed on Tuesday.
    • Coal to be India's energy mainstay for next 30 years: policy paper
    Coal will remain India's main energy source for the next three decades
although its share will gradually fall as the country pushes renewable power
generation, according to a government report seen by Reuters.

    
    
    GLOBAL TOP NEWS
    • Trump revealed intelligence secrets to Russians in Oval Office -officials
    U.S. President Donald Trump disclosed highly classified information to the
Russian foreign minister about a planned Islamic State operation during their
meeting last week, two U.S. officials with knowledge of the situation said on
Monday.
    • Researchers see possible North Korea link to global cyber attack
    Cyber security researchers have found technical evidence they said could
link North Korea with the global WannaCry "ransomware" cyber attack that has
infected more than 300,000 computers in 150 countries since Friday.
    • Spare jackets, no questions for Xi: China works to ensure smooth Silk Road
summit
    India didn't show up. North Korea did, to the annoyance of the United
States. And Pyongyang threatened to steal the show by firing a ballistic missile
that landed less than 100 km from Russia.

    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 9,465.50, up 0.05 pct from its
previous close.
    • The Indian rupee will likely open little changed to slightly higher
against the dollar, as soft U.S. manufacturing data keeps pressure on the
greenback.
    • Indian government bonds will likely extend their gains, as investors wager
that the central bank will soften its policy stance and may even slash interest
rates going forward after retail inflation eased to a record low in April. The
yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a
6.76 pct-6.84 pct band today.

    
    
    GLOBAL MARKETS
    • The S&P 500 and the Nasdaq notched record closing highs on Monday, powered
by demand for technology stocks after a global cyber attack and by rising oil
prices.
    • Asian stocks are set to rise in opening trade following overnight gains on
Wall Street, while oil is set to extend a week-long rally after major producers
Saudi Arabia and Russia said supply cuts needed to continue into 2018.

    • The dollar traded near a one-week low versus a basket of major currencies,
having come under pressure after a surprisingly soft U.S. manufacturing
report.
    • U.S. Treasury yields drifted higher on Monday as investors evaluated how
many times the Federal Reserve was likely to raise rates this year, with no
large economic releases due this week to sway opinion.
    • Oil prices rose, extending gains after a joint announcement by top
producers Saudi Arabia and Russia to push for an extension of supply cuts until
the end of March 2018.
    • Gold prices inched higher, with the dollar easing after weak U.S.
manufacturing data dented expectations of an aggressive string of interest rate
hikes by the U.S. Federal Reserve.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         64.03/64.06  May 15           $36.70 mln   $416.48 mln
 10-yr bond yield  7.10         Month-to-date    $359.32 mln  $1.70 bln
                                Year-to-date     $6.80 bln    $11.09 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 = 64.06 Indian rupees)

 (Compiled by Pathikrit Bandyopadhyay in Bengaluru)
  

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below