May 3, 2017 / 3:13 AM / 5 months ago

Morning News Call - India, May 3

To access the newsletter, click on the link:
 
 here
    
    
If you would like to receive this newsletter via email, please register at: here
    
    
    FACTORS TO WATCH
    11:45 am: Railways Minister Suresh Prabhu and Telecom Minister Manoj Sinha
at an event in New Delhi.
    2:00 pm: Power Minister Piyush Goyal at an event in New Delhi.
    4:00 pm: Road Transport Minister Nitin Gadkari at an event in New Delhi.
    5:00 pm: L&T Technology Services press meet in Mumbai.
    5:15 pm: Cabinet likely to meet in New Delhi. Agenda not known.
    5:30 pm: ICICI Bank earnings concall in Mumbai.
    
    LIVECHAT - CHARTING FX
    Take a look at the FX charts with Reuters technical analyst Martin Miller,
at 3:30 pm. To join the conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • Infosys plans to hire 10,000 U.S. workers after Trump targets outsourcing
firms
    India-based IT services firm Infosys Ltd plans to hire 10,000 U.S. workers
in the next two years and open four technology centers in the United States,
starting with a center this August in Indiana, the home state of U.S. Vice
President Mike Pence.
    • Indian factory activity expands for 4th month in April - PMI
    Indian manufacturing activity expanded for a fourth consecutive month in
April, helped by stronger growth in new orders although rises in output and
employment slowed, a business survey showed on Tuesday.
    • German union demands end to talks between Thyssenkrupp and Tata
    German labour union IG Metall demanded on Tuesday that industrial company
Thyssenkrupp end talks to merge its European steel business with that of India's
Tata Steel.
    • India cuts oil import plans from Iran by a quarter over gas field row
    India plans to order about a quarter less Iranian crude oil than it bought
last year, people familiar with the matter said, as state refiners cut term
purchase deals over a row between New Delhi and Tehran on development of a
natural gas field.
    
    
    GLOBAL TOP NEWS
    • Trump urges future government shutdown, easier passage of laws
    U.S. President Donald Trump came to office promising that he would produce
so much winning that Americans would be sick of it. As he struggles to produce
wins, some signs of frustration are starting to appear.
    • Apple posts surprise dip in iPhone sales, shares fall
    Apple Inc reported a surprise fall in iPhone sales for its second quarter on
Tuesday, indicating that customers may have held back purchases in anticipation
of the 10th-anniversary edition of the company's most important product later
this year.
    • U.S., China talk firmer U.N. response to North Korea's missiles: diplomats
    The United States is negotiating with China on a possible stronger U.N.
Security Council response - such as sanctions - to North Korea's repeated
ballistic missile launches, which the 15-member body normally condemns in a
statement, diplomats said.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 9,357.00, trading up 0.14 pct from
its previous close
    • The Indian rupee is likely to rise against the dollar in early trade, in
line with gains in regional peers, amid broad weakness in the greenback ahead of
the conclusion of the U.S. Federal Reserve’s two-day policy meet later today.
    • Indian government bonds are likely to trade steady ahead of the U.S.
Federal Reserve’s monetary policy decision, due later today. The yield on the
benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.96 pct - 7.01
pct band today.
    
    
    GLOBAL MARKETS
    • Wall Street edged higher on Tuesday as gains for the tech and industrial
sectors countered weakness in auto and energy stocks and investors digested a
heavy day of earnings reports.
    • Asian stocks followed global indexes higher, as strong earnings and
manufacturing data boosted risk appetite, while expectations that the Federal
Reserve will signal a June rate increase later in the session lifted the dollar.

    • Asian stocks followed global indexes higher, as strong earnings and
manufacturing data boosted risk appetite, while expectations that the Federal
Reserve will signal a June rate increase later in the session lifted the dollar.

    • U.S. Treasury prices gained on Tuesday after weak auto sales raised
concerns about the strength of consumer spending, and as investors awaited the
conclusion of the Federal Reserve’s two-day meeting on Wednesday.
    • Crude oil prices bounced back as a decline in U.S. inventories underpinned
the market, although a dip in compliance with OPEC efforts to reduce output and
near record supplies capped gains.
    • Gold held near a three-week low hit in the previous session on rising
equities and a firmer dollar as markets waited for cues on an U.S. interest rate
hike from the Federal Reserve later in the day.
    
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         64.17/64.20  May 2            -$95.40 mln  $115.40 mln
 10-yr bond yield  7.24         Month-to-date    -            -
                                Year-to-date     $6.44 bln    $9.51 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 = 64.21 Indian rupees)

 (Compiled by Sai Sharanya Khosla in Bengaluru)
  

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below