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Morning News Call - India, November 3

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    FACTORS TO WATCH
    10:00 am: Shriram City Union Finance analyst conference call post 2Q
earnings.
    11:00 am: Punjab National Bank Chief Executive and Managing Director CH.
S.S. Mallikarjuna Rao at a virtual press conference post 2Q earnings.
    4:00 pm: Health Ministry briefing on coronavirus situation in New Delhi.
    4:00 pm: Petroleum Secretary Tarun Kapoor at PHD Chamber of Commerce virtual
natural gas conclave.
    4:30 pm: Dabur India analyst conference call post 2Q earnings.
    5:00 pm: Muthoot Finance conference call post 2Q earnings.
    
    PROMOTIONS
    LIVECHAT - REUTERS GLOBAL MARKETS FORUM
    Dennis Darnoi, Republican strategist in Michigan, analyses Election Day and
how the results process could play out in the key state of Michigan. To join the
conversation at 8:30 pm IST, click here here
    
    
    INDIA TOP NEWS
    • India's October factory growth at decade high as demand bounces back
    India's factory activity expanded at its fastest pace in over a decade in
October as demand and output continued to recover strongly from
coronavirus-related disruptions, but firms cut more jobs, a private survey
showed.
    • Vedanta, Hindalco among winners of country's coal mine auctions
    Vedanta and Hindalco Industries were among the first private companies
chosen to operate coal mines in the country without end-use restrictions, the
government said on Monday.
    • India's October jobless rate rises to 6.98% - private think-tank CMIE
    India’s unemployment rate in October rose to 6.98% from 6.67% in September,
according to data released by the Centre for Monitoring Indian Economy (CMIE).

    • India buys more paddy rice after farmers protest new laws
    India's new season paddy rice purchases from local farmers rose 21% by the
end of October as New Delhi tried to allay farmers' concerns that new
agricultural laws mean the federal government will stop buying food grains at
guaranteed prices.
    • India's coronavirus tally rises to 8.2 million
    India recorded 45,231 new coronavirus infections, taking its total cases to
8.23 million, the health ministry said on Monday.
    
    
    GLOBAL TOP NEWS
    • In final pre-election push, Biden and Trump also gird for court battle
    President Donald Trump and Democratic rival Joe Biden made a last-ditch push
for votes in battleground states on Monday as their campaigns prepared for
post-election disputes that could prolong a divisive presidential election.

    • Europe's COVID-19 curbs prompt pushback amid bleak countdown to Christmas
    A wave of COVID-19 lockdowns and curbs has stirred resistance across Europe,
with the right-wing British politician who helped force an EU referendum
harnessing popular anger at a new lockdown by recasting his Brexit Party under a
new banner.
    • Twitter board expresses confidence in CEO Dorsey
    The board of Twitter expressed support for Chief Executive Officer Jack
Dorsey on Monday and said it had confidence in the social media company's
"current structure".
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading 0.6% higher at 11,756.20.
    • The Indian rupee is expected to trade little changed to the dollar amid
rangebound moves in Asian peers ahead of the U.S elections.
    • Indian government bond yields are likely to edge higher in early session
ahead of a fresh supply of state debt and uncertainty before the U.S.
presidential elections today. The yield on the benchmark 5.77% bond maturing in
2030 is likely to trade in a 5.87%-5.93% band today.
    
    
    GLOBAL MARKETS
    • The Dow and S&P closed higher on Monday with the Nasdaq posting slimmer
gains on the eve of the U.S. presidential election, as investors girded for what
could be big market swings this week.
    • Asian shares got off to a strong start as investors were encouraged by
strong factory output data in China, Europe and the United States, while the
dollar and gold held ground on political uncertainty ahead of U.S. elections.

    • The U.S. dollar hovered near a one-month high as investors opted for
caution in the hours ahead of polls opening on election day in the United
States.
    • U.S. Treasury yields mostly drifted lower on Monday as investors braced
for an action-packed week headlined by Tuesday's presidential election.
    • Oil prices slipped as worries about soaring COVID-19 cases, rapidly rising
Libyan supply and U.S election jitters outweighed growing hopes that major
producers would hold back on planned production increases.
    • Gold prices were little changed, after rising nearly 1% in the previous
session, as caution set in ahead of the U.S presidential elections.
    
                   CLOSE        FII INVESTMENTS  EQUITIES           DEBT
 PNDF spot         74.43/74.46  November 2       (1,405.95) crores  480.14 crores
 10-yr bond yield  5.89%        Month-to-date    (1,406) crores     480 crores
                                Year-to-date     46,482 crores      (1,06,666) crores
    
    (FII investment numbers are in Indian rupees. Source: National Securities
Depository Limited)

    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 = 74.50 Indian rupees)
 

 (Compiled by Pranay Prakash in Bengaluru)
  
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