April 22, 2019 / 3:25 AM / in a month

Morning News Call - India, April 22

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    FACTORS TO WATCH
    No events are scheduled for the day.
    
    LIVECHAT - FIN TECH 
    Reuters correspondent Anna Irrera talks bitcoin, cryptocurrencies regulation
and other E-money innovations at 7:00 pm IST. To join the conversation, click on
the link: here
    
    
    INDIA TOP NEWS
    • HDFC Bank fourth-quarter profit up 22.6 percent to record high 
    India's HDFC Bank reported a record quarterly net profit of 58.85 billion
rupees on Saturday, meeting market expectations as the country's biggest lender
by market value raked in higher interest and fee income.
    • Reliance says not involved in any cash payment arrangement to Venezuela's
PDVSA for oil
    Reliance Industries denied involvement in any arrangements that lead to cash
payments for oil supplies to Venezuelan state oil company PDVSA via third
parties, and said it is not in violation of any U.S. sanctions, according to a
statement from India's giant oil refining company on Saturday.
    • SpiceJet to give hiring preference to employees of Jet Airways - Chairman
    SpiceJet said on Friday it will prioritize hiring employees of Jet Airways
who are losing their jobs after the crisis-hit Indian airline halted all flight
operations indefinitely this week.
    • Reliance Industries sees telecom, retail driving growth
    Reliance Industries, operator of the world's biggest refining complex,
posted a record net profit on Thursday as strong growth in retail and telecom
businesses offset the impact of 17-quarter low refining margins.
    • Mahindra signs deal with Ford Motor to make midsize SUVs in India
    Automaker Mahindra and Mahindra signed a deal with Ford's Indian unit to
jointly develop midsize sports utility vehicles in India, the company said on
Thursday.  
    
    
    GLOBAL TOP NEWS
    • U.S. to announce end to sanctions waivers for Iran oil imports -source
The United States is expected to announce that all importers of Iranian oil will
have to end their imports shortly or be subject to U.S. sanctions, a source
familiar with the situation told Reuters.
    • Bombs in Sri Lanka kill more than 200 at churches, hotels on Easter
More than 200 people were killed and at least 450 injured in bomb blasts that
ripped through churches and luxury hotels in Sri Lanka on Easter Sunday, the
first major attack on the Indian Ocean island since the end of a civil war 10
years ago.
    • Top Democrats leave open option of Trump impeachment after Mueller report
Top congressional Democrats left the door open on Sunday to the impeachment of
U.S. President Donald Trump, but said they would first need to complete their
own investigations into whether he obstructed justice in Special Counsel Robert
Mueller's Russia probe.
    
        
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading 0.1 percent lower at 11,795,
from its previous close. 
    • The Indian rupee is expected to open lower against the dollar as Brent
crude surged to more-than-five-month highs following a report that the U.S. will
announce an end to sanction waivers for imports from Iran.
    • Indian government bonds will likely open higher, as minutes of the
nation’s rate-setting panel hinted that most members are open for more interest
rate cuts. The yield on the benchmark 7.26 percent bond maturing in 2029 will
likely trade in a range of 7.39 percent-7.45 percent range today, a trader with
a private bank said. 
      
    
    GLOBAL MARKETS
    • Industrials led the S&P 500 and the Dow moderately higher on Thursday
after robust U.S. economic data and some healthy corporate earnings reports.

    • Asian shares were steady as investors took stock of recent data suggesting
global growth may be stabilising, while oil prices spiked on a report the U.S.
is likely to ask all importers of Iranian oil to end their purchases or face
sanctions.
    • The dollar drifted higher against the euro and British pound, supported by
the relative strength of the U.S. economy, though moves remained small as many
investors were still away for the long Easter weekend.
    • U.S. Treasury yields fell on Thursday, undermined by weak manufacturing
surveys around the world that boosted concerns about a global slowdown.
    • Gold prices steadied after falling to a near four-month low in the
previous session, with the dollar gaining in the wake of indications that U.S.
economic growth picked up in the first quarter.
        
 
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         69.56/69.59  April 18         $149.65 mln  -$16.80 mln
 10-yr bond yield  7.42 pct     Month-to-date    $2.21 bln    -$1.54 bln
                                Year-to-date     $9.06 bln    -$1.99 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 = 69.36 Indian rupees)

 (Compiled by Swathi Nair in Bengaluru)
  
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