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Morning News Call - India, October 3
October 3, 2017 / 3:23 AM / in 2 months

Morning News Call - India, October 3

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    FACTORS TO WATCH
    9:15 am: SBI Life Insurance lists on stock exchanges in Mumbai.
    11:00 am: Vespa Red launch in Mumbai.
    1:00 pm: NHAI Chairman to launch new website and project monitoring
information system mobile app in New Delhi.
    5:00 pm: Government to release August Infrastructure output data in New
Delhi.

    LIVECHAT - NORTH KOREA CRISIS. 
    Marcus Noland, Executive Vice President & Director of Studies, Peterson
Institute for International Economics joins us at 9:00 am IST. To join the
conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • Ola said to raise $2 billion from SoftBank, Tencent - Bloomberg
    India's ride-hailing company Ola on Monday secured $2 billion in new funding
from a group of investors, including SoftBank Group Corp and Tencent Holdings
Ltd, Bloomberg reported, citing a person familiar with the matter.
    • RCom's debt-repayment plan hits snag as Aircel deal collapses
    Reliance Communications is reassessing debt repayment options after a deal
to merge its wireless arm with smaller rival Aircel was scrapped, dealing a
fresh blow to the embattled Indian telecoms company.
    • Reliance's buyback option on latest iPhones may boost Apple's India
presence
    India's Reliance said on Friday that customers of its Jio telecoms unit who
buy the latest Apple iPhone models from partner stores could sell them back in a
year at a guaranteed price, a move that could help the U.S. tech firm expand in
India.
    • U.S. jury cuts damages in TCS-Epic trade secrets lawsuit
    India's top software services exporter Tata Consultancy Services Ltd (TCS)
said on Sunday a U.S. jury had more than halved to $420 million the damages it
has to pay to medical software company Epic Systems in a trade secrets
lawsuit.
    • Bombardier signs deal with India's SpiceJet for 50 Q400 prop planes
    Bombardier Inc has finalized a deal to sell up to 50 Q400 planes to India's
SpiceJet valued at $1.7 billion by list prices, its largest single order to date
for the turboprop plane, the Canadian company said on Friday.
    • India's government to buy 10,000 electric cars from Tata Motors
    The Indian government on Friday said it will buy 10,000 electric cars from
Tata Motors Ltd to start replacing petrol and diesel variants being used by its
agencies.

    GLOBAL TOP NEWS
    • Lone gunman kills 59, injures hundreds, in Las Vegas concert attack
    A retiree armed with multiple assault rifles strafed an outdoor country
music festival in Las Vegas from a high-rise hotel window on Sunday,
slaughtering at least 59 people in the deadliest mass shooting in modern U.S.
history before killing himself.
    • EXCLUSIVE- U.S. mulls further Wells Fargo sanction over sales abuses
-source
    The main regulator for Wells Fargo & Co is considering whether to sanction
the U.S. bank over improperly charging customers for car insurance and mortgage
loans, according to a source familiar with the matter.
    • As Trump set to visit Puerto Rico, 95 percent lack power
    U.S. President Donald Trump is set to make his first visit to Puerto Rico
today, two weeks after Hurricane Maria devastated the U.S. territory, and is
likely to face more criticism of his handling of the disaster as the vast
majority of inhabitants lack power and phone service and are scrambling for
food, clean water and fuel.

    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were at 9,880.50, trading up 0.4 percent from its
previous close.
    • Indian government bonds are likely to edge lower in early trade as the
central bank announced another open market sale of bonds to drain excess cash at
banks. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely
to trade in a 6.65 percent-6.70percent band.
    • The Indian rupee will likely edge lower in early trade against the dollar,
in line with most Asian peers, as upbeat U.S. economic data supported U.S
Treasury yields and the greenback. 

    GLOBAL MARKETS
    • U.S. stocks started the fourth quarter on a strong note on Monday, with
all three major indexes hitting record high closes as data pointed to underlying
strength in the economy.
    • Asian shares rose, tracking record closes on Wall Street and upbeat
economic data that lifted U.S. Treasury yields and the dollar, although weaker
oil prices took their toll on some market segments.
    • The dollar struck a 1-1/2-month high as Treasury yields rose after a a
strong reading for U.S. manufacturing activity hardened expectations for U.S.
interest rates to rise by the year-end.
    • U.S. Treasury yields rose on Monday in choppy trading, as Wall Street
shares hit record highs and the dollar gained amid upbeat data on U.S.
manufacturing and construction spending that backed expectations of another rate
increase before the end of the year.
    • Oil prices fell, declining for a second day and sapping more strength from
a third-quarter rally, amid signs that a global glut in crude may not be
clearing as quickly as some had hoped.
    • Gold edged down, as the dollar remained buoyed by upbeat economic data and
strong U.S. treasury yields.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         65.30/65.33  September 29     -$236.89 mln  $65.56 mln
 10-yr bond yield  6.96 pct     Month-to-date    -$1.82 bln    $141.33 mln
                                Year-to-date     $5.19 bln     $23.28 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 = 65.31 Indian rupees)
    
    

 (Compiled by Shradha Singh in Bengaluru)
  

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