September 20, 2017 / 3:26 AM / a year ago

Morning News Call - India, September 20

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    10:00 am: SBI Life Insurance IPO opens for subscription in Mumbai.
    10:00 am: Steel Minister Chaudhary Birender Singh and Mines Secretary Arun
Kumar at Minerals & Metals Forum in New Delhi.
    10:30 am: Federal Cabinet likely to meet in New Delhi. 
    10:30 am: Power Finance Corp annual general meeting in New Delhi.
    11:00 am: NTPC annual general meeting in New Delhi. 
    11:30 am: Commerce & Industry Additional Secretary J.K Dadoo, Department of
Industrial Policy and Promotion Joint Secretary Ravinder at India-Korea Economic
Forum in New Delhi. 
    12:00 pm: Farm Minister Radha Mohan Singh and Farm Secretary S.K. Pattanayak
at the agriculture conference on Rabi campaign in New Delhi.
    12:30 pm: Labor Minister Santosh Kumar Gangwar at book launch event in New
    1:00 pm: Food Minister Ram Vilas Paswan at National Cooperative Consumers
Federation annual meeting in New Delhi. 

    Thomson Reuters/INSEAD Asian Business Sentiment Survey 2017Q3
    Business confidence among Asian companies fell for the first time in three
quarters in July-September as escalating geo-political tensions outweighed an
improved performance by most economies in the region, a Thomson Reuters/INSEAD
survey showed. To read more, click on

    Reuters reporter Suvashree Choudhury will be taking questions on the survey
from 10:00 am IST in the Global Markets Forum and Trading India community
chatrooms. To join, please click
    • EXCLUSIVE-U.S. defence firms want control over tech in Make-in-India plan
    U.S. defence firms offering to set up production lines in India to win deals
worth billions of dollars want stronger assurances they won't have to part with
proprietary technology, according to a business lobby group's letter to India's
defence minister.
    • India regulator orders sharp cut in mobile interconnection fees
    India's telecoms regulator has more than halved a fee mobile operators pay
each other for calls from one network to another in a move that could hurt
leading operators including Bharti Airtel and Vodafone's Indian business.

    • Thyssenkrupp works council softens opposition to Tata Steel deal
    Thyssenkrupp's works council is prepared to consider a merger of the group's
European steel operations with those of Tata Steel, it said on Tuesday,
softening its no-go rhetoric over the consolidation plan.
    • Investors snap up insurer ICICI Lombard's IPO 
    ICICI Lombard General Insurance Co Ltd's initial public offering to raise 57
billion rupees was nearly three times subscribed on the last day of the sale,
underscoring investor enthusiasm in India's booming IPO market.
    • Two Indian renewable power producers plan to sell $750 million in domestic
bonds -sources
    Two of India's biggest renewable energy companies, Greenko Group PLC and
ReNew Power Ventures Pte Ltd, plan to sell a combined $750 million worth of
rupee-denominated bonds in the domestic market, three bankers told Reuters on
    • Monsoon rains paralyse air, street traffic in Mumbai
    Torrential rains lashed India's financial hub Mumbai for the second time in
weeks on Tuesday, flooding low-lying areas and paralysing traffic at the
country's second busiest airport after a plane overshot the runway.

    • If threatened, U.S. will 'totally destroy' North Korea, Trump vows
    U.S. President Donald Trump escalated his standoff with North Korea over its
nuclear challenge on Tuesday, threatening to "totally destroy" the country of 26
million people and mocking its leader, Kim Jong Un, as a "rocket man."

    • Japan exports surge at fastest in nearly 4 years on global demand
    Booming shipments of cars and electronics in August drove up Japan's exports
at the fastest pace in nearly four years, further evidence that overseas demand
is strong enough to support healthy economic growth.
    • At least 149 killed by earthquake in Mexico -civil protection agency
    At least 149 people were killed by a powerful earthquake that struck central
Mexico on Tuesday, the nation's civil protection agency said.
    (As reported by NewsRise)
    • The SGX Nifty Futures were at 10,161.00, trading down 0.06 percent from
its previous close.
    • Indian sovereign bonds are likely to open little changed ahead of the U.S.
Federal Reserve’s policy decision due later today. The yield on the benchmark
6.79 percent bond maturing in 2027 is likely to trade in a 6.57percent-6.61
percent band.
    • The Indian rupee will likely edge higher against the dollar, tracking
gains in most other Asian currencies, as the greenback fell overnight ahead of
the U.S. Federal Reserve monetary policy decision later today.
    • The three major U.S. stock indexes edged higher on Tuesday, logging
closing records, with financial stocks providing the biggest boost a day ahead
of the Federal Reserve's concluding statement from its two-day policy
    • Asian stocks were mostly steady after Wall Street again rose to record
highs, although movements were limited as a wait-and-see mood prevailed before
the Federal Reserve reveals its monetary policy stance later in the day.

    • The dollar edged up against a basket of currencies as investors awaited
the outcome of the Federal Reserve's meeting at which it was expected to
announce plans to trim its $4.2 trillion in bond holdings.
    • U.S. Treasury yields rose slightly on Tuesday as investors waited on the
conclusion of the Federal Reserve’s two-day policy meeting today for new
indications on whether an additional interest rate hike is likely this year.

    • Oil prices rose after Iraq's oil minister said OPEC and other crude
producers were considering extending or even deepening a supply cut to curb a
global glut, while a report showed a smaller-than-expected increase in U.S.
    • Gold was steady, with investors in wait-and-see mode ahead of the outcome
of a two-day Federal Reserve meeting in the United States. 
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         64.31/64.34  September 19     --            $132.29 mln
 10-yr bond yield  6.87 pct     Month-to-date    -$378.05 mln  $582.70 mln
                                Year-to-date     $6.63 bln     $23.72 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 = 64.2950 Indian rupees)

 (Samrhitha Arunasalam)
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