December 3, 2019 / 3:27 AM / in 11 days

Morning News Call - India, December 3

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    FACTORS TO WATCH
    No Major events are scheduled for the day.
    
    LIVECHAT - LATAM IN FOCUS
Luiz Riberio, DWS head of Latin American equities will discuss his views on the
region, as well as sectoral and country outlooks at 7:30 pm IST. To join the
conversation, click on the link: refini.tv/2P8N0Wp
    
    
    INDIA TOP NEWS
    • India's manufacturing growth picks up in November - PMI
    India's manufacturing activity picked up in November as new orders and
output rose at a faster pace, a survey showed on Monday, although factories were
less optimistic about the future, shedding jobs for the first time since March
last year.
    • Accel Partners raises $550 million for new India fund
    Silicon Valley venture capital firm Accel Partners said on Monday it had
raised $550 million for a new India-focused fund aimed at backing early-stage
startups in the country.
    • Indians demand swift action against rapists as protests spread after
woman's murder
    Protests over the alleged rape and murder of a 27-year-old veterinary doctor
spread to cities across India on Monday as people demanded tough and swift
punishments, including public lynchings, to stop crimes against women.

    
    
    GLOBAL TOP NEWS
    • Trump hits U.S. allies with new trade pain in one-day whirlwind
President Donald Trump released a clutch of protectionist trade actions on
Monday aimed at long-time U.S. allies, including some countries that have been
close to the Trump administration.
    • U.S. manufacturing contracts further, tempers economic growth hopes
    U.S. factory activity contracted for a fourth straight month in November as
new orders slumped back to around their lowest level since 2012, while
construction spending fell in October, tempering optimism over the economy that
had been fanned by a recent run of upbeat reports.
    • China bars U.S. military ships, aircraft from Hong Kong, sanctions
U.S.-based NGOs
    China on Monday banned U.S. military ships and aircraft from visiting Hong
Kong and slapped sanctions on several U.S. non-government organisations for
allegedly encouraging anti-government protesters in the city to commit violent
acts.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were down 0.1% at 12,084.00.
    • The Indian rupee is expected to open lower against the dollar, tracking
losses in regional currencies and equities after U.S. stocks fell by the most in
two months.
    • Indian government bonds will likely open little changed ahead of a state
debt auction, while focus remains on the monetary policy decision later this
week as well as the government’s fiscal situation. The yield on the benchmark
6.45% bond maturing in 2029 will likely trade in a 6.46%-6.51% range.    
    
    
    GLOBAL MARKETS
    • Wall Street stepped back from last week's record highs on Monday, with
weak U.S. manufacturing data and fresh trade worries keeping buyers on the
sidelines.
    • Asian shares skidded after U.S. President Donald Trump stunned markets
with tariffs against Brazil and Argentina, recharging fears about global trade
tensions, while weak U.S. factory data added to the investor gloom.
    • The dollar traded near a one-week low versus the yen and near the lowest
in almost two weeks against the euro, on concern about weak U.S. manufacturing
data and signs of new fronts in the U.S. trade war.
    • The U.S. Treasury yield curve was steeper on Monday following two reports
showing U.S. factory activity and construction spending fell unexpectedly,
sounding a cautionary note on the U.S. economy despite a recent string of upbeat
data.
    • Oil prices rose for a second day as Saudi Arabia, the de facto OPEC leader
and the world's biggest oil exporter, is pushing producers to deepen a supply
cut agreement when suppliers meet this week, potentially lowering supply in
2020.
    • Gold prices edged up, hovering near the one-week high hit in the previous
session, after U.S. President Donald Trump's move to slap tariffs on Brazil and
Argentina stoked fresh concerns around global trade and hit risk appetite.

      
    
                   CLOSE        FII INVESTMENTS  EQUITIES        DEBT
 PNDF spot         71.68/71.71  December 2       (751.15) crore  190.97 crore
 10-yr bond yield  6.46%        Month-to-date    (751) crore     191 crore
                                Year-to-date     93,033 crore    30,689 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 = 71.77 Indian rupees)
 


 (Compiled by Pranay Prakash in Bengaluru)
  
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