April 30, 2018 / 3:47 AM / 5 months ago

Morning News Call - India, April 30

Morning News Call - India edition will not be published on Tuesday, May 1 as
markets are closed for Maharashtra Day.
    
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    FACTORS TO WATCH
    2:15 pm: Prime Minister Narendra Modi to inaugurate Buddha Jayanti 2018
celebrations in New Delhi.
    
    LIVECHAT - FX WEEK AHEAD
FX Buzz analyst Jeremy Boulton analyses G7 currencies at 03:30 pm IST. To join
the conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • Maruti Suzuki India's profit misses estimate on tax expense, shares drop
    Maruti Suzuki India, whose iconic 'Maruti 800' helped popularise cars in
India, posted a 10 percent rise in quarterly net profit but missed analysts'
expectations due to higher tax expenses, sending its shares lower.
    • Reliance Industries's Jio makes profit for second quarter in a row
    Indian oil-to-retail conglomerate Reliance Industries said on Friday its
telecoms business Jio reported its second straight quarterly net profit since
its launch nearly two years ago, as its cut-price plans continue to attract
subscribers.
    • Walmart attempts international turnaround with UK, India tie-ups 
    Walmart's urgency to stem market share losses to rivals around the world is
driving it to partner with local players in the UK and India, even as it scales
back in some other markets like Brazil.
    • Indian green energy firms eye stock market listings 
    Two Indian renewable energy firms, Adani Green Energy, a subsidiary of
trading firm Adani Enterprises and ReNew Power, are set to unveil stock market
listing plans in the coming weeks, giving investors a new way to gain exposure
to the sector at a time when India is pushing to make renewable power a bigger
part of its energy mix.
    • RBI lifts key restriction on foreign investors in bond market
    RBI said it is withdrawing a restriction that limited foreign investors to
only investing in government and corporate bonds with tenures of three years or
more, a move that could bolster the domestic bond market.
    • India aims to split GAIL within a year to open up gas sector
    India plans to split state-run gas utility GAIL by March next year to create
two companies: one marketing gas, and another operating pipelines that can be
used by consumers who buy direct from producers, the head of the sector's
regulator told Reuters.
    • IndiGo says its president Ghosh resigning, to name new CEO 
    InterGlobe Aviation, which runs the country's top carrier IndiGo, said on
Friday its president, Aditya Ghosh, would step down effective July 31, after
being with the company for 10 years.
    • Idea Cellular posts 6th straight quarterly loss
    Idea Cellular, India's third-biggest telecoms carrier, posted a sixth
straight quarterly net loss that was narrower than expected but showed the firm
continues to battle intense competition sparked by upstart rival Reliance Jio.

    
    GLOBAL TOP NEWS
    • T-Mobile, Sprint say $26 billion deal would give U.S. tech lead over China
    T-Mobile and Sprint said on Sunday they had agreed to a $26 billion
all-stock deal and believed they could win over skeptical regulators because the
merger would create thousands of jobs and help the United States beat China to
creating the next generation mobile network.
    • China official factory PMI eases slightly in April, export orders slow
    Activity in China's vast manufacturing sector eased in April, as export
orders slowed in another sign of ebbing economic growth, while a simmering
Sino-U.S. trade row heightened risks for the industrial sector.
    • U.S. warns North Korea must take 'irreversible' steps to denuclearize
    U.S. Secretary of State Mike Pompeo said on Sunday that he told Kim Jong Un
that the North Korea leader would have to agree to take "irreversible" steps
toward shutting its nuclear weapons program in any deal with U.S. President
Donald Trump.
    
    LOCAL MARKETS OUTLOOK
    • The SGX Nifty futures were trading at 10,763.50, up 0.3 percent from its
previous close.
    

    GLOBAL MARKETS
    • Wall Street closed nearly flat on Friday as inflation worries and
struggling technology and energy stocks were offset by an advance in the
consumer discretionary sector led by Amazon.
    • Asian shares rose again as tensions in the Korean Peninsula eased and
first-quarter earnings shone, although some investors pondered whether this
sunny outlook could dim in the near future.
    • The dollar held steady against a basket of currencies, having pulled back
from a 3-1/2-month high set late last week, pressured by a decline in the
benchmark U.S. 10-year Treasury yield.
    • The margin between U.S. shorter-dated Treasury yields and longer-dated
ones shrank on Friday on investors' skepticism about the global economy even as
the United States fared better than other nations in the first quarter.
    • Oil prices edged lower as a rising rig count in the United States pointed
to higher production, but prices held near more than three-year highs and were
on track to rise for a second consecutive month.
    • Gold prices inched up early as the U.S. dollar steadied after a recent run
of gains, weighed down by a decline in the benchmark U.S. 10-year Treasury
yield.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         66.76/66.79  April 27         -$113.95 mln  -$316.68 mln
 10-yr bond yield      -        Month-to-date    -$845.90 mln  -$2.39 bln
                                Year-to-date     $1.32 bln     -$1.67 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 = 66.61 Indian rupees)
    
    

 (Compiled by Priyanka Das in Bengaluru)
  
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