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FACTORS TO WATCH
9:30 am: AU Small Finance Bank Managing Director Sanjay Agarwal, NABARD
Chairman HK Bhanwala to inaugurate bank's corporate office in Mumbai.
11:45 am: Steel Minister Chaudhary Birender Singh at an event in Kolkata.
6:30 pm: Top industry officials at digital event organized by Cellular
Operators Association of India in New Delhi.
GMF: LIVECHAT - MARKETS FOCUS
Patrick L. Young, Executive Director, DV Advisors joins us at 12:00 pm IST
in the aftermath of the UK general elections to talk about the path forward for
Brexit and Europe, his outlook on the markets and of course bitcoin. To join the
conversation, click on the link: here
INDIA TOP NEWS
• Cattle slaughter crackdown ripples through India's leather industry
In the backstreets of Agra's Muslim quarter, where shoes have been made for
centuries, small-scale manufacturers are firing workers and families cutting
back on spending as a government crackdown on cattle slaughter ripples through
• India's engineering exports to Doha hit by Qatar crisis
India's exports of engineering goods to Doha have suffered after Arab powers
led by Saudi Arabia severed ties with Qatar accusing it of supporting terrorism,
the Engineering Export Promotion Council said in a statement on Wednesday.
• Saudi Aramco seeks exclusive talks over India oil refinery stake - India
Oil giant Saudi Aramco wants to enter into exclusive talks with India to buy
a stake in the planned 1.2 million barrels per day (bpd) refinery on the South
Asian nation's west coast, India's oil minister said on Wednesday.
• India's wholesale prices rise 2.17 percent in May
India's wholesale prices rose 2.17 percent year-on-year in May, government
data showed on Wednesday.
• India antitrust watchdog imposes $13.6 million fine on Hyundai Motor's
India's antitrust watchdog on Wednesday imposed a fine of 870 million rupees
($13.6 million) on South Korean automaker Hyundai Motor Co's local unit,
accusing the company of anti-competitive behaviour.
• ONGC keen to buy govt stake in refiner HPCL
India's top explorer Oil and Natural Gas Corp (ONGC) is keen to acquire the
government's stake in oil refiner Hindustan Petroleum Corp (HPCL), the country's
oil minister said on Wednesday.
• Landslide, floods kill 156 in Bangladesh, India; toll could rise
Heavy rains have triggered a series of landslides and floods in Bangladesh
and neighbouring northeast India, killing at least 156 people over two days, and
officials warned on Wednesday the toll could rise.
GLOBAL TOP NEWS
• Fed raises rates, unveils balance sheet cuts in sign of confidence
The Federal Reserve raised interest rates on Wednesday for the second time
in three months and said it would begin cutting its holdings of bonds and other
securities this year, signaling its confidence in a growing U.S. economy and
strengthening job market.
• U.S. lawmaker Scalise in critical condition after attack by gunman at
Congressman Steve Scalise, the No. 3 Republican in the U.S. House of
Representatives, was in critical condition on Wednesday night after he and three
others were shot as they practiced for a charity baseball game.
• Trump under investigation for possible obstruction of justice -Washington
U.S. President Donald Trump is being investigated by special counsel Robert
Mueller for possible obstruction of justice, the Washington Post reported on
Wednesday, citing unidentified officials.
LOCAL MARKETS OUTLOOK
(As reported by NewsRise)
• The SGX Nifty Futures were trading at 9,605.00, down 0.4 percent from its
• The Indian rupee will likely open little changed against the dollar, as
media reports that the U.S. president is being investigated for likely
obstruction of justice, and a weaker-than-expected inflation data offset
greenback strength triggered by a widely expected rate increase by the Federal
• Indian government bonds will likely edge higher in early trade tracking a
sharp fall in U.S. Treasury yields, as slower-than-expected price gains in the
world’s largest economy raised doubts about future rate increases by the Federal
Reserve, after a widely-expected tightening yesterday. The yield on the
benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.44
percent-6.50 percent band today.
• A slide in technology stocks pulled down the Nasdaq Composite on Wednesday
and the S&P 500 ended slightly lower, as investors worried about the pace of
economic growth after weaker-than-expected inflation numbers and an interest
rate hike from the Federal Reserve.
• U.S. stock futures and Asian shares slid, hit by soft U.S. economic data,
a relatively hawkish Fed and a media report that U.S. President Donald Trump is
being investigated by a special counsel for possible obstruction of justice.
• The dollar nursed losses as weak U.S. inflation data left investors
wondering if the Federal Reserve would follow up its latest rate hike with
another later this year.
• Long-dated U.S. Treasury yields tumbled to their lowest since early
November on Wednesday after surprisingly weak data on inflation and retail sales
overshadowed an interest rate hike by the Federal Reserve.
• Oil prices wallowed near their lowest levels in seven months, hurt by high
global inventories and doubts over OPEC's ability to implement production cuts.
• Gold edged up from a near three-week low hit in the previous session, as
Asian stocks fell on a report that U.S. President Donald Trump is being
investigated for possible obstruction of justice.
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 64.16/64.19 June 14 -- $73.25 mln
10-yr bond yield 6.81 Month-to-date $529.58 mln $3.23 bln
Year-to-date $8.51 bln $16.67 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= 64.30 Indian rupees)
(Compiled by Pathikrit Bandyopadhyay in Bengaluru)