July 4, 2017 / 3:28 AM / 5 months ago

Morning News Call - India, July 4

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    9:15 am: GTPL Hathway listing ceremony in Mumbai.
    11:00 am: Sterlite annual shareholders meet in Aurangabad.

    We discuss the latest Brexit developments with UK economics correspondent
Alistair Smout at 6:30 pm IST. To join the conversation, click on the link: here
    • Indian manufacturing growth cools in June on weak demand
    Activity in India's manufacturing sector eased to a four-month low in June
amid a slowdown in output and new orders as softer domestic consumption partly
offset strong foreign demand, a private business survey showed on Monday.

    • NSE may need to refile IPO application -regulator
    India's National Stock Exchange may need to refile its application for a
stock listing after looking into whether brokers were provided unfair access to
its servers, markets regulator chairman Ajay Tyagi said on Monday.
    • RBI raises foreign investment limits in bonds, tweaks rules
    The Reserve Bank of India on Monday increased the investment limits by
foreign investors in government bonds by 110 billion rupees to 2.42 trillion
rupees, while also tweaking rules to attract more long-term investments.

    • SEBI set to propose new rules for rating agencies - chairman
    India's market regulator chairman Ajay Tyagi said on Monday he was
considering imposing more regulations on ratings agencies, days after announcing
a set of tough new rules that the agencies must observe.
    • Workers reject junior partner role for Thyssenkrupp in Tata JV
    Thyssenkrupp workers oppose the idea that the German industrial group could
be the junior partner in a possible steel joint venture with India's Tata Steel,
group works council chief Wilhelm Segerath told Reuters on Monday.
    • NMCE, ICEX to merge creating 3rd biggest commodity exchange
    India's National Multi Commodity Exchange will merge with Indian Commodity
Exchange creating the country's third biggest commodity exchange, they said in a
statement on Monday.
    • North Korea fires ballistic missile ahead of G20 summit 
    North Korea launched a ballistic missile from its western region into the
sea off its east coast on Tuesday, South Korea's military said, ahead of a
summit of leaders from the Group of 20 countries in Germany later this week.

    • Samsung plans $18.6 billion South Korea investment amid chip boom
    Samsung Electronics Co Ltd said it plans to invest at least $18.63 billion
in South Korea as it seeks to extend its lead in memory chips and
next-generation displays for smartphones.
    • Trump discusses migration, trade with European leaders ahead of summit
    U.S. President Donald Trump discussed hot-button issues like climate change,
trade and migration in calls with German and Italian leaders on Monday, before a
summit this week of the G20 leading economies that could expose sharp policy
    (As reported by NewsRise)
    • The SGX Nifty Futures were at 9,624.00, little changed from previous
    • The Indian rupee will likely edge higher against the dollar in early
trade, in line with Asian peers, tracking greenback sales by exporters and
possible gains in local shares amid thin trade. 
    • Indian government bond prices are likely to fall following a rise in U.S.
Treasury yields, as upbeat U.S. manufacturing data boosted expectations the
Federal Reserve would raise rates again this year. The yield on the benchmark
6.79 percent bond maturing in 2027 is likely to trade in a 6.53 percent-6.58
percent band today.
    • The S&P 500 and Dow Industrials moved higher on Monday, with the Dow
hitting an intraday record as energy and bank stocks gained, but continued
weakness in the technology sector pulled the Nasdaq lower.
    • Asian shares climbed, following positive leads from Europe and the U.S. as
oil's longest stretch of daily price gains in over five years lifted energy
shares and investor rotation out of technology into financials continued.

    • The dollar steadied after rallying on upbeat U.S. data that boosted
Treasury yields to seven-week highs, while the focus turned to the Reserve Bank
of Australia's policy decision to see if it would join a growing list of central
banks adopting a hawkish tilt.
    • U.S. Treasury yields rose on Monday, with two-year yields touching their
highest in more than eight years after U.S. manufacturing data boosted
expectations that the Federal Reserve would raise interest rates again this year
as other central banks shift toward tighter monetary policy.
    • Oil prices retreated in early Asian trade, halting a run of eight straight
days of gains on signs that a relentless rise in U.S. crude production was
running out of steam.
    • Gold edged higher, supported by an easing dollar, but was still near
seven-week lows hit in the previous session when it posted its biggest one-day
percentage loss since November.
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         64.79/64.82  July 3           -$124.15 mln  -$201.29 mln
 10-yr bond yield  6.95         Month-to-date    $609.97 mln   --
                                Year-to-date     $8.59 bln     $17.80 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 = 64.88 Indian rupees)

 (Compiled by Benny Thomas in Bengaluru)

Our Standards:The Thomson Reuters Trust Principles.
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