November 12, 2018 / 3:33 AM / a month ago

Morning News Call - India, November 12

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    FACTORS TO WATCH
    1:00 pm: NITI Aayog Principal Adviser Ratan Watal to speak at workshop on
online digital payments program in New Delhi.
    5:30 pm: Government to release October consumer price inflation data in New
Delhi.
    5:30 pm: Government to release September Industrial production data in New
Delhi.
    LIVECHAT - MARKETS AFTER MIDTERMS
    We discuss what implications the results of the U.S. Midterm elections will
have on global markets, particularly in Asia, and political ramifications to
watch out for, with Robert Carnell, Chief Economist and Head of Research, ING
Asia, at 0930 IST. To join the conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • Royal Enfield targets tripling of U.S. sales this year
India-based motorcycle brand Royal Enfield expects sales in its new North
American business to almost triple this year and is aiming to dominate the
market for middleweight bikes into which Harley-Davidson has just shifted in a
bid to revive sales.
    • Indian gov't official says no proposal to ask RBI to transfer reserves
There is no proposal from the Indian government to ask the nation's central bank
to transfer its surplus reserves, said Subhash Chandra Garg, economic affairs
secretary in the finance ministry, in a tweet on Friday.
    • IndiGo switches 125 Airbus A320neo orders to longer range A321s - source
IndiGo, India's largest domestic airline, has switched 125 of its existing
Airbus A320neo jet orders to the longer range A321neo model, according to an
Airbus source.
    • Air India operations director stopped from piloting flight after failing
breath tests
A senior pilot who is also director of operations for Air India, and has had
responsibility for flight safety and training, said he was told by the carrier
he failed two breathalyzer tests on Sunday before a flight to London from New
Delhi.
    
    
    GLOBAL TOP NEWS
    • SAP to buy customer sentiment tracker Qualtrics for $8 billion
Germany's SAP said on Sunday it was buying Qualtrics International Inc for $8
billion in cash, pre-empting a planned stock market listing by the U.S. firm
that specialises in measuring the sentiment of consumers online.
    • In solemn Paris ceremony, Macron leads global WW1 Armistice commemorations
French President Emmanuel Macron led tributes to the millions of soldiers killed
in World War One on Sunday, using an emotional ceremony in Paris attended by
scores of world leaders to warn against nationalism a century on from the
conflict.
    • Calls for open trade to greet Pence as Trump skips Asia summit
Asia-Pacific leaders will join the heads of Southeast Asian states this week in
Singapore to renew calls for multilateralism and fresh pledges to resolve
regional conflicts ranging from the Rohingya crisis in Myanmar to tensions in
the South China Sea.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading 0.2 percent lower at
10,608.00, from its previous close.
    • The Indian rupee is expected to open marginally lower against the dollar
after wholesale prices in the world’s largest economy climbed at the quickest
pace in six years.
    • Indian government bonds are likely to open little changed, as market
awaits local retail inflation data, while a slight recovery in crude oil prices
may restrict the consistent fall in yields. The yield on the benchmark 7.17
percent bond maturing in 2028 is expected to trade in a 7.74 percent -7.80
percent band today.
    
    
    
    GLOBAL MARKETS
    • Wall Street's three major stock indexes lost ground on Friday, after a
week of recovery from the October sell-off, as oil prices fell further and more
evidence of a slowing Chinese economy was reported.
    • Asian shares fell, extending weakness in global equity markets at the end
of last week as soft Chinese economic data and falling oil prices rekindled
anxiety about the outlook for world growth.
    • The dollar built on last week's gains and rose towards a 16-month high as
traders expect the U.S. Federal Reserve to keep tightening monetary policy.

    • U.S. Treasury yields fell on Friday with shorter-dated yields retreating
from the highest levels in a decade, as investors scooped up safe-haven U.S.
government debt due to losses in equities worldwide on worries about economic
growth in China and U.S. interest rate hikes.
    • Oil prices rose by about one percent after top exporter Saudi Arabia
announced a cut in supply for December, seen as a measure to halt a market slump
that had seen crude decline by 20 percent since early October.
    • Gold prices were steady, having dipped to a one-month low in the previous
session after the U.S. dollar firmed on the Federal Reserve's plans to gradually
keep tightening borrowing costs.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES    DEBT
 PNDF spot         72.62/72.65  November 9       $84.72 mln  $37.15 mln
 10-yr bond yield  7.76 pct     Month-to-date    $82.84 mln  $566.65 mln
                                Year-to-date     -$5.84 bln  -$7.54 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 = 72.4750 Indian rupees)

 (Compiled by Hrithik Kiran Bagade in Bengaluru)
  
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