January 2, 2018 / 3:11 AM / 3 months ago

Morning News Call - India, January 2

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    11:00 am: Winter session of parliament continues in New Delhi.
    GMF: We discuss the latest Brexit developments with UK economics
correspondent Alistair Smout at 1930 IST. To join the conversation, click on the
link: here
    State-run Bank of India says gets $354 mln capital from government 
    Bank of India, the country's sixth biggest lender by assets, said on
Saturday it received 22.57 billion rupees from the government, joining other
lenders in which the government is injecting funds to shore up their capital
    Indian regulators face legal challenge in probe over prescient messages 
    A series of raids by India's market regulator, investigating whether
corporate announcements were prematurely leaked by market participants in social
media chatrooms, were the largest it has conducted.

    Reliance Jio to buy RCom's wireless assets in $3.75 bln deal-sources
    Debt-laden Reliance Communications has signed a deal to sell its wireless
assets to Reliance Jio Infocomm for nearly 240 billion rupees, two sources
familiar with the matter told Reuters on Friday.
    Iranian protesters attack police stations, raise stakes in unrest
    Iranian protesters attacked police stations late into the night on Monday,
news agency and social media reports said, as security forces struggled to
contain the boldest challenge to the clerical leadership since unrest in 2009.

    North Korea's Kim says 'open to dialogue' with South Korea, will only use
nukes if threatened
    Kim Jong Un on Monday warned the United States that he has a "nuclear
button" on his desk ready for use if North Korea is threatened, but offered an
olive branch to South Korea, saying he was "open to dialogue" with Seoul.
    Compass Group chief, five others killed in Sydney seaplane crash
    The chief executive of British catering giant Compass Group and four members
of his family were killed when the seaplane they were flying in crashed into a
Sydney river on New Year's Eve.
    (As reported by NewsRise)
    The SGX Nifty Futures was trading at 10,512.50, trading down 0.4 percent
from its previous close.

The Indian rupee will likely open lower against the dollar, as local shares are
expected to slip with global investors returning from New Year holiday, while
rising crude oil prices will also hurt sentiment. 
    Indian sovereign bonds are likely to rise in early trade, as the central
bank announced the auction of a new 10-year paper this week, which will spur
overall demand, traders said. The benchmark bond yield is likely to trade in
7.28 percent-7.34 percent band today, a trader with a private bank said.
Yesterday, the note closed at 96.33 rupees, yielding 7.34 percent.
    • There were no fireworks on Wall Street for the last trading day of the
year, as U.S. stocks closed out their best year since 2013 on a down note, with
losses in technology and financial stocks keeping equities in negative territory
for the session.
    • Asian shares scaled a decade peak after a survey of Chinese manufacturing
proved surprisingly upbeat, while the euro lurked within striking distance of
its 2017 top against an ailing U.S. dollar.
    • The dollar fell to its lowest in over three months against a basket of
major currencies on Friday, marking its steepest annual drop since 2003, on
doubts over durability of a pickup in U.S. economic growth in wake of last
week's tax overhaul.
    • Year-end demand helped U.S. Treasuries prices end the year stronger on
Friday, before a heavy week of data, though volumes were light before Monday's
New Year's Day holiday.
    • Oil prices had their highest January opening since 2014, with Brent and
WTI crude prices rising to mid-2015 highs, supported by ongoing supply cuts led
by OPEC and Russia as well as strong demand.
    • Gold prices hit over 3-month highs, supported by technical factors after
the precious metal broke through strong resistance last week.
             CLOSE            FII INVESTMENTS    EQUITIES      DEBT
 PNDF  spot  63.90/64.93      January 1          $51.2 mln     $27.01
 10-yr bond  7.28 pct         Month-to-date      -$832.87 mln  $524.43 mln
 yields                       (Dec)                            
                              In 2017            $7.86 bln     $26.26 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 = 63.6750 Indian rupees)
0 : 0
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