November 25, 2019 / 3:38 AM / 20 days ago

Morning News Call - India, November 25

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    FACTORS TO WATCH
    • 10:00 am: Prime Minister’s Economic Advisory Council Chairman Bibek Debroy
    at FICCI’s Innovation Summit in New Delhi.
    • 11:00 am: Winter session of Parliament continues in New Delhi.
    
    LIVECHAT - MARKETS FOCUS
    Reuters EMEA Markets Editor Mike Dolan to analyse the state of play in
European markets at 5:00 pm IST. To join the conversation, click on the link: refini.tv/2P8N0Wp
    
    
    INDIA TOP NEWS
    • India's urban unemployment rate slows in March quarter -govt data
    India's urban unemployment rate between January and March this year fell to
9.3%, the lowest in at least four quarters, according to an unpublished
government report reviewed by Reuters.
    • Bharti, Vodafone Idea approach India's top court on payment of dues -media
    India's top telecom firms, Bharti Airtel and Vodafone Idea have asked the
Supreme Court to review a ruling forcing them to pay the bulk of outstanding
government dues of $13 billion, media said on Saturday.
    • India courts private hospitals to boost insurance programme
    India will offer incentives to private hospitals to take part in the
government's health insurance programme, potentially the biggest of its kind in
the world, a senior government official told Reuters.
    
    
    GLOBAL TOP NEWS
    • No 'phase two' US-China deal on the horizon, officials say
    An ambitious "phase two" trade deal between the United States and China is
looking less likely as the two countries struggle to strike a preliminary "phase
one" agreement, according to U.S. and Beijing officials, lawmakers and trade
experts.
    • Saudi Aramco markets IPO in Dubai after approaching Kuwait fund
    Saudi Aramco met investors in Dubai on Sunday to market its initial public
offering (IPO), after trying to secure demand from Kuwait's sovereign wealth
fund for the deal, worth up to $25.6 billion, which relies heavily on local and
regional buyers.
    • Hong Kong democrats romp to local election landslide after months of
protests
    Hong Kong's democrats romped to a landslide and symbolic majority in
district council elections after residents turned out in record numbers on
Sunday to vote following six months of anti-government protests in the embattled
city.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading 0.2% higher at 11,938.00.
    • The Indian rupee is expected to open lower against the U.S. currency after
    the dollar index climbed by the most in three weeks following
better-than-expected data from the world’s largest economy.
    • Indian government bonds will likely open largely unchanged, amid lack of
    cues and ahead of the country’s economic growth data due later this week.The
yield on the benchmark 6.45% bond maturing in 2029 is likely to trade in a range
of 6.48%-6.53%.
    
    
    GLOBAL MARKETS
    • Wall Street advanced on Friday as both Washington and Beijing made
positive comments on the potential for a trade deal between the world's two
biggest economies and upbeat domestic economic data helped to ease investor
worries.
    • Asian shares made guarded gains as investors dared to hope for some
progress in the endless Sino-U.S. trade dispute, while the outperformance of
recent U.S. economic data gave the dollar a leg up on its peers.
    • The greenback, supported by positive economic data released late last
week, rose 0.1% on the safe-haven Japanese yen to 108.78 yen.
    • U.S. Treasury yields were mixed on Friday in choppy trading, as data
showing a pickup in manufacturing and services activity was counterbalanced by
persistent uncertainty related to trade negotiations with China.
    • Oil prices began the week on a brighter note, posting early gains as
positive noises from Washington over the weekend rekindled optimism in global
markets that the United States and China could soon sign a deal to end their
bitter trade war.
    • Gold prices touched their lowest in a week as positive developments
towards an interim trade deal between the United States and China lifted demand
for riskier assets and boosted the dollar.
    
    
                   CLOSE        FII INVESTMENTS   EQUITIES        DEBT
 PNDF spot         71.75/71.78  November 23       5,006.08 crore  (322.50)crore
 10-yr bond yield  6.48%        Month-to-date     17,548 crore    175 crore
                                Year-to-date      86,101 crore    33,031 crore
    
    
    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  = 71.70 Indian rupees)

 (Compiled by Pranay Prakash in Bengaluru)
  
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