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 11:00 am: Budget session of Parliament continues in New Delhi. 12:00 pm: Oil Minister Dharmendra Pradhan to talk about introduction of BS VI fuels in New Delhi. INDIA TOP NEWS • India's electronics ministry moots duties on key smartphone component -sources India is exploring new duties on the import of a key smartphone component, according to two government sources, the latest in a series of moves aimed at boosting domestic manufacturing in the world's second-biggest smartphone market. • POLL-RBI to take hawkish stance by end-2018, hike rates early next year The Reserve Bank of India will keep monetary policy steady at its April meeting but shift to a hawkish stance by the end of this year and raise interest rates early in 2019 as inflation pressures build, according to a Reuters poll of economists. • India's CBI probing Videocon, husband of ICICI Bank CEO, in loan case- sources Indian police have launched a preliminary investigation into the husband of ICICI Bank's chief executive, as well as officials at the lender and at Videocon Group, two sources said on Saturday, to assess whether there was any wrongdoing in lending practices. • Tata Steel's Dutch deal could threaten Thyssenkrupp venture - union A far-reaching agreement between India's Tata Steel and its Dutch unit could put at risk plans for a steel joint venture with Thyssenkrupp, the German group's supervisory board vice chairman said. • India's top refiner plans $22 bln expansion over five years Indian Oil plans to invest $22 billion in next five years as the country's top refiner seeks to raise its annual capacity to about 3.2 million barrels per day by 2030, its head of refineries said on Saturday. • Toyota, Suzuki to produce cars for each other in India Toyota Motor Corp and Suzuki Motor Corp agreed on Thursday to produce cars for each other in India as Toyota aims to increase its market share in the world's fifth-largest passenger car market. • ANALYSIS-Uber seen girding for battle with Ola in India ahead of IPO Uber's decision to exit Southeast Asia, where it was bleeding money, should give the global ride-hailing giant more firepower to focus on India, where it's locked in a fierce battle with local rival, Ola, industry analysts say. • India slashes potash subsidy by 10 percent, could hurt imports The Indian cabinet on Wednesday slashed subsidies for potash-based fertiliser by more than 10 percent for the next fiscal year beginning April 1, as the world's leading importer of the crop nutrient tries to contain a fiscal deficit. GLOBAL TOP NEWS • China imposes tariffs in response to U.S. duties on steel, aluminium China has slapped extra tariffs of up to 25 percent on 128 U.S. products including frozen pork, as well as on wine and certain fruits and nuts, in response to U.S. duties on imports of aluminium and steel, China's finance ministry said. • Trump says DACA deal for young immigrants is off President Donald Trump said on Sunday that there will be no deal to legalize the status of young adult immigrants called Dreamers and he said the U.S.-Mexico border is becoming more dangerous. • Japan business mood sours for first time in 2 years, upbeat on capex Japanese business sentiment worsened for the first time in two years in the three months to March, a closely watched central bank survey showed on Monday, as rising raw material and labour costs weigh on an otherwise steady economic recovery. LOCAL MARKETS OUTLOOK The SGX Nifty Futures were trading at 10,210.50, down 0.34 percent from its previous close. GLOBAL MARKETS • Wall Street surged on Thursday, bringing an upbeat end to a tumultuous, holiday-shortened week as technology stocks rebounded, but the S&P 500 and the Dow Jones Industrial Average posted their biggest quarterly declines in more than two years. • Asian stocks began the new quarter with mild gains following a strong performance by global equities last week, while the dollar held steady awaiting key economic indicators. • The dollar held steady against the yen, taking a breather after last week's rally and as it treads cautiously amid lingering concerns over a U.S.-China trade spat. • U.S. Treasury yields fell on Thursday, posting a strong finish to a weak first quarter, as investors piled into low-risk government bonds on worries about economic growth and the recent dramatic pullback in stock prices. • Oil prices rose, lifted by a drop in U.S. drilling activity as well as by expectations that the United States could re-introduce sanctions against Iran. • Gold prices rose after three consecutive sessions of falls as the dollar eased amid fresh concerns of trade tensions between the United States and China. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 65.02/65.05 March 28 - $443.3 mln 10-yr bond yield - Month-to-date $2.06 bln -$370.27 mln Year-to-date $2.17 bln $720.63 mln 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 = 65.11 Indian rupees) (Compiled by Pathikrit Bandyopadhyay in Bengaluru)
