August 24, 2017 / 3:14 AM / in a year

Morning News Call - India, August 24

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    9:30 am: COAI Director General Rajan Mathews, BSNL Chairman A. Shrivastava,
MTNL Chairman P.K. Purwar, Bharti Airtel Executive Shaym Mardikar at Wi-Fi India
Summit and awards event in New Delhi.
    10:30 am: Coal India Chairman S. Bhattacharya, International Solar Alliance
Director General Upendra Tripathy, PTC India Chairman D. Amitabh at Environment
and Energy Conclave in Kolkata.
    11:30 am: Aviation Minister P. Ashok Gajapathi Raju and Junior Minister
Jayant Sinha to brief media on second round of bidding under RCS-Udan in New
    3:00 pm: Larsen & Toubro Infotech annual general meeting in Mumbai.
    5.00 pm: Finance Minister Arun Jaitley, NITI Aayog Vice Chairman Arvind
Panagariya and CEO Amitabh Kant at release of Action Agenda for three years in
New Delhi.
    Vishwanathan Anand was India's first chess Grandmaster and has since
trailblazed a path for most Indian chess players. While still on the playing
circuit, 'Vishy' has managed to carve out a stellar playing career being the
undisputed world champion in all three formats. He also was the first recipient
of the Rajiv Gandhi Khel Ratna and India's second highest civilian award, the
Padma Vibhushan. We speak to Vishy on his learnings from the game and the future
of Indian chess at noon IST. To join the conversation, click on the link: here
    Reuters Asia commodities and energy columnist Clyde Russell will share his
insights on the outlooks of yellow metal, iron ore, coal, oil and many more at
9:30 am IST. To join the conversation, click on the link: here
    TrendsetterFX's chief market strategist and GMF regular guest Wilson Leung
will highlight short-term key levels to watch for G7 currencies from a technical
analysis perspective on Friday at 9:00 am IST. To join the conversation, click
on the link: here
    • India to speed up state bank mergers for broader economic revival
    India approved a proposal on Wednesday to set up a ministerial panel to
speed up consolidation of state-run banks as part of its efforts to revive
credit and economic growth.
    • India's proposed pharma marketing rules hit legal roadblock
    India's plan to bring in marketing rules to curb unethical promotional
practices in the country's drug industry faces an indefinite delay after it hit
a legal roadblock, marking a setback for public health groups.
    • At least 42 injured in rail accident in northern India
    A passenger express train derailed after hitting a truck in northern India
on Wednesday, injuring 42 people, some critically, in the country's fifth major
rail accident in the past year.
    • Sterlite to invest $1 billion annually in Brazil power lines -source
    India's largest power transmission company Sterlite Power Grid Ventures will
invest around $1 billion per year in the next few years to build power lines in
Brazil, a source with direct knowledge of the plan told Reuters on Wednesday.

    • ANALYSIS- Ahead of Lee verdict, Samsung Group lacks leadership 'Plan B'
    Samsung Group, South Korea's leading conglomerate, has no 'Plan B' for
taking big decisions if its billionaire de facto leader Jay Y. Lee is jailed for
corruption, people familiar with the matter said.
    • Fellow Republicans rebuke Trump over government shutdown threat
    President Donald Trump's fellow Republicans rebuked him on Wednesday after
his threat to shut down the U.S. government over funding for a border wall
rattled markets and cast a shadow over congressional efforts to raise the
country's debt ceiling and pass spending bills.
    • Amazon deal for Whole Foods wins U.S. regulatory, shareholder approvals on Wednesday cleared two of the biggest hurdles it needed to
close its $13.7 billion acquisition of Whole Foods Market, with approvals from a
U.S. regulator and the grocery chain's shareholders.
    (As reported by NewsRise)
    • The SGX Nifty Futures was trading at 9,867.50, up 0.14 percent from its
previous close.
    • Indian government bonds are likely to trade little changed as investors
await a fresh supply of debt via auctions today.  The yield on the benchmark
6.79 percent bond maturing in 2027 is likely to trade in a 6.52 percent-6.57
percent band.
    • The Indian rupee will likely edge higher, tracking an overnight selloff in
the greenback amid U.S. President Donald Trump’s threats to shut down the
government and scrap the free trade agreement with Mexico and Canada.
    • U.S. stocks closed lower on Wednesday as investors grappled with a threat
from President Donald Trump to shut down the government if Congress fails to
fund a Mexico border wall.
    • Asian stocks edged up, shaking off the risk aversion that gripped
financial markets overnight after U.S. President Donald Trump's threat to shut
down the government, though the dollar remained sluggish.
    • The dollar inched higher, paring some of the losses it suffered after U.S.
President Donald Trump suggested a shutdown of the government was possible and
threatened to terminate the North American Free Trade Agreement.
    • U.S. Treasury yields fell on safety buying on Wednesday after President
Donald Trump said that he would be willing to risk a government shutdown to
secure funding for a border wall, raising fears that a battle to raise the debt
ceiling could delay payments on some bonds.
    • Oil prices were little changed, holding most of their gains from the
previous session after another fall in U.S. crude inventories which is seen as a
sign of a tighter market.
    • Gold nudged lower, giving up some of its gains made after U.S. President
Donald Trump's threat of a government shut down, while investors began to focus
on a major central bankers conference in Jackson Hole.
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         64.11/64.14  August 23        -$180.67 mln  $27.45 mln
 10-yr bond yield  6.8 pct      Month-to-date    -$1.87 bln    $1.55 bln
                                Year-to-date     $7.10 bln     $22.69 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 = 64.0400 Indian rupees)

 (Compiled by Nivedita Balu in Bengaluru)
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