April 27, 2018 / 3:29 AM / 25 days ago

Morning News Call - India, April 27

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
    09:30 am: Trade Minister Suresh Prabhu, NITI Aayog CEO Amitabh Kant and SREI
Infrastructure Finance CMD Hemant Kanoria at International Business Congress
annual general meeting in New Delhi.
    10:00 am: Trade Minister Suresh Prabhu and DIPP Secretary Ramesh Abhishek to
address FICCI event in New Delhi.
    10:30 am: Transport Minister Nitin Gadkari to inaugurate national workshop
for non-governmental organizations working on road safety in New Delhi.
    12:30 pm: Bandhan Bank MD & CEO Chandra Shekhar Ghosh at post-earnings press
conference in Mumbai.
    12:30 pm: M&M Farm Equipment President Rajesh Jejurikar to launch tractor
platform for specialized segment in Mumbai.
    02:30 pm: Maruti Suzuki press conference on Q4 results in New Delhi.
    03:30 pm: RBL Bank MD & CEO Vishwavir Ahuja to address press conference on
January-March results in Mumbai.
    04:00 pm: Maruti Suzuki India earnings conference call in Mumbai.
    5:00 pm: RBI to release weekly foreign exchange data in Mumbai.
    6:00 pm: Railways Minister Piyush Goyal, Trade Minister Suresh Prabhu and
Junior Aviation Minister Jayant Sinha at India Economic Summit 2018 in Mumbai.
    6:15 pm: Reliance Industries press conference on January-March results in
Mumbai.
    
    LIVECHAT - QUIZ EAST
    Our Friday quiz focuses on Asia and the week's top news. Test your wits
and googling speed at 11:00 am IST .To join the conversation, click on the link:
here
    
    
    INDIA TOP NEWS
    • Axis Bank dragged to first quarterly loss by bad loans 
Axis Bank reported its first ever quarterly loss on Thursday after a surge in
bad loans, capping a troubled year for the country's third-biggest private
sector lender by assets.
    • India, China to court each other at informal summit in bid to re-set ties
    The leaders of India and China are set to make their boldest attempt yet at
rapprochement in talks this week just months after a dispute over a stretch of
their high-altitude Himalayan border rekindled fears of war.
    • Indian police probe suspected $90 million loan fraud at IDBI Bank
    India's federal police agency said on Thursday it was investigating an
alleged $90 million loan fraud at IDBI Bank,and former senior bank officials
were among those being investigated.
    • Lodha Developers files for IPO
    Real estate firm Lodha Developers on Thursday filed for an initial public
offering, expected to be one of the biggest stock market debuts in India this
year.
    • Yes Bank Q4 profit rises 29 percent
    Yes Bank posted a 29 percent increase in fourth-quarter profit, helped by
higher interest income.
    • Biocon Q4 profit rises 2.2 percent
    Biocon, India's biggest biotechnology company, posted a marginal 2.2 percent
rise in net profit on Thursday.
    
    GLOBAL TOP NEWS
    • "A new history starts now" as leaders of two Koreas begin summit
    Smiling and holding hands, North Korean leader Kim Jong Un and South Korean
President Moon Jae-in met at the heavily fortified demilitarised zone between
the countries in the first summit for the two Koreas in over a decade.

    • BOJ set to keep policy steady, maintain price forecasts
    Japan's central bank is set to keep monetary policy steady and project
inflation to hit its target next fiscal year, signalling that its next move
could be to dial back its huge stimulus albeit at a much slower pace than its
global peers.
    • Amazon surprises Wall Street with huge profits, optimistic outlook
    Amazon.com march in retail and cloud computing showed no sign of slowing on
Thursday, as the company reported a surge in first-quarter profit and a rosy
outlook for the spring, surprising all but the most optimistic on Wall Street.


    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty nearest-month futures were trading at 10,661.00, up 0.4
percent from its previous close.
    • The Indian rupee is likely to open lower against the dollar amid
expectations of month-end corporate demand for the U.S. currency.
    • Indian government bonds will likely open higher, tracking easing U.S.
Treasury yields even as investors are expected to stay cautious ahead of a long
weekend.Yield on the benchmark 7.17 percent 2028 bond is likely to trade in a
7.73 percent- 7.79 percent band today.
    
    
    GLOBAL MARKETS
    • U.S. stocks advanced on Thursday with each of Wall Street's major indexes
ending the session up 1 percent or higher, boosted by solid earnings results and
a rebound in technology stocks as U.S. bond yields pulled back.
    • Asian shares edged higher, after U.S. equities were buoyed by solid
quarterly earnings and a rebound in technology stocks, while the euro languished
near three-month lows after the European Central Bank kept interest rates
unchanged.
    • The dollar held near a 3-1/2-month high against a basket of currencies as
higher U.S. yields have prompted unwinding of big short positions in the
currency while the euro was hampered by a dovish tone from the European Central
Bank.
    • U.S. Treasury yields fell on Thursday, with the 10-year yield dipping
below 3 percent as buyers emerged following a week-long selloff spurred by
concerns about rising inflation and growing borrowing by the U.S. government.

    • Oil prices edged lower, but Brent largely held gains from the previous
session amid concerns that Iran may face renewed sanctions, choking off supply.

    • Gold prices languished near five-week lows, set for a weekly decline of
more than 1 percent on a stronger dollar, higher U.S. Treasury yields and easing
geopolitical concerns.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         66.77/66.80  April 26         -$158.08 mln  -$279.70 mln
 10-yr bond yield  7.85 pct     Month-to-date    -$794.74 mln  -$2.07 bln
                                Year-to-date     $1.37 bln     -$1.35 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 = 66.80 Indian rupees)
    
    

 (Compiled by Priyanka Das in Bengaluru)
  
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