June 5, 2020 / 3:12 AM / a month ago

Morning News Call - India, June 5

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    2:15 pm: State Bank of India Q4 earnings video conference in Mumbai. 
    4:00 pm: Health ministry likely to brief on COVID-19 situation in New Delhi.
    7:00 pm: NITI Aayog CEO Amitabh Kant and SBI Chairman Rajnish Kumar at NITI
Aayog’s webinar on enabling financial inclusion during COVID-19 pandemic in New
    • Amazon in talks to buy $2 billion stake in Indian telco Bharti
    Amazon.com is in early-stage talks to buy a stake worth at least $2 billion
in Bharti Airtel, three people with knowledge of the discussions told Reuters,
in a move that could turbocharge India's digital economy.
    • Abu Dhabi's Mubadala to invest $1.2 billion in Reliance's Jio Platforms
    Reliance Industries said that Abu Dhabi state fund Mubadala Investment Co
will buy a 1.85% stake in its digital unit, Jio Platforms, for 90.93 billion
    • Reliance Industries closes $7 billion rights issue, India's largest ever
    Reliance Industries on Wednesday closed a $7 billion rights issue, India's
largest ever, luring buyers in with a rare deferred payment offer.
    • India's 2018/19 jobless rate declines to 5.8% 
    India's unemployment rate during July 2018-June 2019 period declined to 5.8%
from 6.1% during a year-earlier period, a government report released on Thursday
    • India's largest lender to consider raising up to $1.5 billion
    State Bank of India, said on Thursday its board will meet on June 11 to
consider raising funds in single or multiple tranches of up to $1.5 billion.

    • India's urban COVID-19 outbreak is morphing into a rural health crisis
    Rural parts of India have begun to see a surge in novel coronavirus
infections, as millions of migrant workers returning from big cities and
industrial hubs bring the virus home with them, according to data collected from
seven Indian states.
    • Australian, India, sign joint deal on critical minerals
    Australia has signed a preliminary deal to supply India with critical
minerals needed for the new-energy economy, Australia's resources minister said
on Thursday.
    • ECB gives another shot of stimulus as economy reels
    The European Central Bank approved a bigger-than-expected expansion of its
stimulus package on Thursday to prop up an economy plunged by the coronavirus
pandemic into its worst recession since World War Two.
    • Pompeo calls Nasdaq's strict rules a model to guard against fraudulent
Chinese companies
    U.S. Secretary of State Mike Pompeo on Thursday warned American investors
against fraudulent accounting practices at China-based companies and said the
Nasdaq's recent decision to tighten listing rules for such players should be "a
model" for all other exchanges around the world.
    • AstraZeneca targets 2 billion doses, poor countries with COVID vaccine
    British drugmaker AstraZeneca has doubled manufacturing capacity for its
potential coronavirus vaccine to 2 billion doses in two deals involving
Microsoft billionaire Bill Gates that guarantee early supply to lower income
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading 0.3% higher at 10,040.50.
    • The Indian rupee is expected to rise against the U.S. currency tracking
the euro’s surge after the European Central Bank increased its stimulus, sending
the dollar index to near three-month lows.
    • Indian government bond yields will likely edge higher in early session
ahead of a fresh supply of notes at a weekly auction today. The yield on the
benchmark 6.45% bond maturing in 2029 is likely to trade in a range of
5.99%-6.05% until the auction today.
    • The S&P 500 lost ground on Thursday as investors took profits in advance
of today's jobs report, ending a four-day rally driven by rising economic
    • Asian stocks were poised for their biggest weekly rise in over eight years
while the euro hovered near a 1-1/2 month high as Europe's central bank
surprised with more stimulus, fuelling hopes for a global rebound.
    • The euro held on to big gains after the European Central Bank expanded its
stimulus more than expected to prop up an economy dealing with its worst
recession since World War Two.
    • Longer-term U.S. Treasury yields jumped on Thursday to levels not seen in
months as European stimulus efforts and a slightly less grim U.S. jobs report
helped support investor confidence.
    • Oil prices eased slightly as markets wait to see whether major producers
will commit to an extension of record production cuts to support oil prices.

    • Gold prices rose on a weaker U.S. dollar and a pause in the recent rallies
in global equity markets, amid signs of lingering economic damage from the
coronavirus crisis that had investors moving towards the safe-haven metal.

                   CLOSE        FII INVESTMENTS  EQUITIES  DEBT
 PNDF spot         75.54/75.57  June 4           2,161.97  (964.75)
 10-yr bond yield  5.80%        Month-to-date    18,190    (535)
                                Year-to-date     (22,155)  (1,05,949)
    (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 = 75.48 Indian rupees)

 (Compiled by Pooja Kesavan in Bengaluru)
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