July 14, 2017 / 3:19 AM / a month ago

Morning News Call - India, July 14

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    FACTORS TO WATCH
   9:00 am: Reserve Bank of India Deputy Governor S.S. Mundra to speak at India
Banking Reforms Conclave in Mumbai.
    10:00 am: Farm Minister Radha Mohan Singh and NITI Aayog Member Ramesh Chand
at National Summit on agriculture marketing solutions in New Delhi.
    10:30 am: Hero Motocorp annual shareholders meeting in New Delhi.
    12:00 pm: Transport Minister Nitin Gadkari to meet committee set up to study
redevelopment of port hospitals on PPP basis in New Delhi.
    12:00 pm: Government to release June wholesale inflation data in New Delhi.
    2:50 pm: Railways Minister Suresh Prabhu and Telecom Minister Manoj Sinha to
launch passenger and freight business initiatives in New Delhi.
    5:00 pm: Reserve Bank of India to release weekly foreign exchange data in
Mumbai.
    5:30 pm: Telecom Minister Manoj Sinha at IPTV Society anniversary event in
New Delhi.

    
    LIVECHAT - QUIZ EAST
    The first of our Friday quizzes focuses on Asia and the week's top news.
Tests your wits and googling speed. To join the conversation at 11:00 am IST,
click on the link: here
    
    
    INDIA TOP NEWS
    • Tata Consultancy upbeat on client spending after Q1 profit dip
    Top Indian software services exporter Tata Consultancy Services said on
Thursday it was optimistic about client spending on technology even as a
cautious global environment and a stronger rupee dented first-quarter profit.

    • Floods in India's northeast kill 40; endanger rare one-horned rhinos
    Floods in northeast India that have killed at least 40 people and displaced
nearly 1.5 million have also inundated a national park that is home to the
world's largest concentration of one-horned rhinoceros.
    • Jaguar Land Rover to produce first car entirely outside of Britain
    Britain's biggest carmaker Jaguar Land Rover said on Thursday it is to build
its new E-PACE compact sport utility vehicle in Austria and China, the first of
its cars only to be manufactured outside of its home market.
    
    
    GLOBAL TOP NEWS
    • Chinese dissident Liu Xiaobo dies in custody, struck by liver cancer
    Chinese Nobel Peace Prize laureate Liu Xiaobo, a prominent dissident since
the 1989 Tiananmen Square pro-democracy protests, died on Thursday after being
denied permission to leave the country for treatment for late-stage liver
cancer.
    • New U.S. Senate Republicans healthcare bill already in trouble
    Senate Republican leaders released on Thursday a revised plan to dismantle
the Obamacare law, but it drew criticism from senators on both sides of the
political divide within the Republican party, indicating a treacherous path for
the bill.
    • Fitch affirms China's A+ rating with stable outlook
    Fitch Ratings on Friday maintained its A+ rating on China with a stable
outlook, citing the strength of the country's external finances and
macroeconomic record.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were at 9,903.50, up 0.09 percent from previous
close.
    • The Indian rupee will likely be little changed against the dollar in early
trade, as traders stay cautious and shift focus to upcoming U.S. inflation data
for cues on trajectory and pace of interest rate hikes in the world’s biggest
economy. 
    • Indian government bonds are likely to open little changed as investors may
defer purchases from the secondary market ahead of a weekly debt auction. The
yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in
a 6.44 percent-6.49 percent band.
    
    
    GLOBAL MARKETS
    • Wall Street posted slight gains on Thursday and the Dow hit another record
high close, with financials rising ahead of profit reports due Friday from
several big U.S. banks.
    • Global stocks scaled record highs, with Asian equities rising for the
fifth straight session, as signs the Federal Reserve will pursue a gradual rate
tightening path and hopes of a strong earnings season lifted appetite for risk
assets.
    • The dollar trod water against a group of peers, as currency investors
remained cautious ahead of U.S. inflation data due later in the session, which
is expected to set the greenback's near-term direction.
    • U.S. Treasury yields rose on Thursday after falling for three straight
days, tracking gains in German bond yields with solid U.S. economic data
supporting their trend higher.
    • Oil markets dipped, pulled down by high fuel inventories and improving
industry efficiency, but were still on track for a solid weekly gain.
    • Gold was little changed after snapping three days of gains in the previous
session, and was set for its first weekly rise in three weeks as the dollar and
equities steadied.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         64.44/64.47  July 13          --            -$31.87 mln
 10-yr bond yield  6.84 pct     Month-to-date    -$134.30 mln  $1.44 bln
                                Year-to-date     $8.46 bln     $19.44 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 = 64.44 Indian rupees)

 (Compiled by Benny Thomas in Bengaluru)
  

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