To access a PDF version of this newsletter, please click here here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH • 12:00 pm: Government to release October wholesale price inflation data in New Delhi. GMF: LIVECHAT - AUTHOR FOCUS Lord John Browne, Chairman of Huawei Technologies (UK), Chairman of L1 Energy and former chief executive of BP, joins us to discuss his latest book "Make, Think, Imagine" and responses to new technologies, at 11:00 am IST. To join the conversation, click on the link: refini.tv/2P8N0Wp INDIA TOP NEWS • India's October retail inflation breaches cenbank's medium-term target India's retail inflation breached the central bank's medium-term target of 4% in October for the first time in 15 months, on the back of higher food prices. • BRICS leaders rail against 'bullying' protectionism Leaders of the BRICS group of emerging economies on Wednesday criticized what they view as politically motivated protectionism at a time of a global slowdown and said their countries are doing their best to counter the trend. • Indian court provides temporary relief to lenders on $5.6 billion loans An Indian court on Wednesday allowed banks to recover some dues from shadow lender Dewan Housing Finance Corporation Ltd, granting relief to banks that had earlier been staring at a $5.6 billion hit to their books. • Court rebukes India government as poisonous smog chokes Delhi India's top court censured the federal government for its inaction in fighting pollution on Wednesday, as poisonous smog choked the streets of the capital New Delhi forcing schools to shut and half of vehicles to be banned from the streets. • GRAPHIC-India's passive funds set to beat active funds for second year India's passive index-tracking equity funds are set to beat their active stock-picking counterparts in returns for a second successive year as fund managers grapple with volatility and the challenges of outperforming benchmark indexes. • India's NCDEX launches agriculture futures index India's National Commodities and Derivatives Exchange (NCDEX) launched an agriculture index, comprising 10 most liquid commodities, the exchange said in a statement on Wednesday. GLOBAL TOP NEWS • China's economy grinds lower as Oct indicators miss forecasts China's industrial output grew significantly slower than expected in October, as weakness in global and domestic demand and the drawn-out Sino-U.S. trade war weighed on activity in the world's second-largest economy. • Japan's economy nearly stalls in Q3, growth at 1-year low as trade war bites Japan's economy grew at the slowest pace in a year in the third quarter as the U.S.-China trade war and soft global demand knocked exports, keeping policymakers under pressure to ramp up fiscal and monetary stimulus to bolster a fragile recovery. • Another day of chaos looms for Hong Kong amid relentless city-wide protests Anti-government protesters paralysed parts of Hong Kong for a fourth day on Thursday, forcing school closures and blocking highways and other transport links to disrupt the financial hub amid a marked escalation of violence. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were 0.1% higher at 11,882.00. • The Indian rupee is expected to open little changed against the dollar as investors assess India’s quicker-than-expected consumer inflation and China’s industrial output and retail sales data. • Indian government bonds are likely to open lower, as faster-than-expected pace of gain in October retail inflation raised some concerns over the quantum of further monetary easing. The yield on the benchmark 6.45% bond maturing in 2029 is likely to trade in a range of 6.52%-6.58%. GLOBAL MARKETS • The Dow Jones Industrial Average and the S&P 500 posted record closing highs on Wednesday helped by a big jump in Walt Disney shares, but the Nasdaq fell as stocks were kept in check by fresh uncertainty over U.S.-China trade relations. • Japanese shares retreated to one-week lows on Thursday as doubts over an interim U.S.-China trade deal lifted the safe-haven yen, while Line Corp and Z Holdings surged on news that the Yahoo Japan operator was in merger talks with messaging app firm Line. • Doubts that securing a trade agreement between the United States and China is far from a done deal helped to lift safe-haven currencies such as the yen and the Swiss franc, while pulling the yuan lower. • U.S. Treasury yields fell on Wednesday as optimism that the United States and China will reach a deal to remove tariffs faded, and as the recent rise in yields was seen as overdone. • Oil prices rose, extending gains from the previous session, as an industry report showing a fall in U.S. crude stockpiles last week added to positive comments by the U.S. Federal Reserve head on the U.S. economy. • Gold prices edged down as bullion's safe-haven appeal was dented by hawkish signals from the U.S. Federal Reserve on further interest rate cuts, citing growth in the U.S. economy, a strong labour market and steady inflation. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 71.97/72.00 November 13 1,579.98 crore 343.36 crore 10-yr bond yield 6.51% Month-to-date 13,348 crore 5,848 crore Year-to-date 81,901 crore 38,704 crore (FII investment numbers are in Indian rupees. Source: National Securities Depository Limited) 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 = 71.35 Indian rupees) (Compiled by Pranay Prakash in Bengaluru)
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