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Morning News Call - India, November 4

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Mihir Vora, Chief Investment Officer, Max Life Insurance, and Rahul Chadha,
Chief Investment Officer, Mirae Asset Global Investments participate in
discussions at 9:30 am and 11:30 am IST respectively. To join the conversation.
To join the conversation, click on the link:
    • Thailand says new Asian trade deal to be signed in 2020
Thailand said on Sunday that Southeast Asian nations are committed to signing a
pact by February 2020 on forging what could become the world's largest trade
bloc, even after new demands by India dealt a blow to the process backed by
    • India's Yes Bank posts quarterly loss as asset quality worsens
    Indian private-sector lender Yes Bank Ltd reported a
bigger-than-expected loss for the second quarter on Friday, as asset quality
worsened and provisions swelled.
    • Softening demand drags Indian factory growth to 2-year low in Oct - PMI
    India's factory activity growth hit a two-year low in October as new orders
and output rose at a slower pace, dragging business confidence to its weakest
since early 2017, a survey showed on Friday, suggesting more policy easing is on
the cards.
    • India's Congress party says Priyanka Gandhi Vadra hit by WhatsApp privacy
    India's main opposition Congress party said on Sunday that its general
secretary Priyanka Gandhi Vadra had been informed by messaging service WhatsApp
 that her phone was hacked during this year's election campaign by malware
from Israeli surveillance firm NSO.
    • India orders IndiGo to replace all Pratt engines on Airbus A320neo planes
    IndiGo must replace all Pratt & Whitney (P&W) engines on its fleet
of almost 100 twin-engined Airbus A320neo family aircraft with new P&W power
units, India's air safety watchdog said on Friday following recent inflight
engine shutdowns.
    • Amazon's bid to acquire stake in Indian retailer faces antitrust
    India's antitrust body has sought more information from Inc
 about its planned acquisition of a stake in India's Future Retail
, sources with knowledge of the matter told Reuters, which could
potentially delay the deal.
    • Germany's Merkel renews push for FTA with India, pledges green funds
    German Chancellor Angela Merkel said on Saturday there was a need for a
fresh attempt to restart talks on finalising a free trade agreement (FTA)
between India and the European Union.
    • India's smog-bound capital suffers most hazardous air so far this year
    Air pollution in New Delhi and surrounding towns reached the worst levels so
far this year on Sunday, with authorities in the world's most polluted capital
city having already declared a public health emergency and ordered the closure
of schools.
    • Saudi Aramco kick-starts what could be world's biggest IPO, offers scant
    Saudi Arabia's giant state oil company finally kick-started its initial
public offering (IPO) on Sunday, announcing its intention to float on the
domestic bourse in what could be the world's biggest listing as the kingdom
seeks to diversify its economy away from oil.
    • Hong Kong braces for protests as two critical after weekend clashes
    Two people were in critical condition in Hong Kong, police said, after a
weekend of chaotic clashes with anti-government protesters, as China called for
a "tougher" stance to end months of unrest that have roiled the Asian financial
    • Australian weak retail sales, jobs point to need for more stimulus
    Australian retail sales surprisingly fell last quarter while growth in
September was weaker-than-expected, underlining the need for even more stimulus
to jumpstart the slowing economy.
    (As reported by NewsRise)
    SGX Nifty nearest-month futures 0.2% higher at 11,960.00.
    The Indian rupee is expected to open higher against the dollar as
better-than-expected U.S. job additions and optimism that the U.S. and China are
nearing an interim trade deal boosted risk appetite.
    Indian government bonds are likely to fall in early session, as the central
bank's announcement to conduct longer-term reverse repo auctions raised
uncertainty over the quantum and pace of open market note purchases in the rest
of this fiscal year. The yield on the benchmark 6.45% bond maturing in 2029 is
likely to trade in a range of 6.43%-6.48%.
    • U.S. stocks rallied to close out the trading week on Friday as the S&P 500
set a closing record for the third time in five days after an upbeat U.S. jobs
report and data on Chinese manufacturing eased concerns about slowing global
    • Asian shares rose to 14-week highs on Monday as growing optimism over
U.S.-China trade talks and upbeat U.S. job data boosted global investors'
appetite for riskier assets.
    • Major currencies started the week quietly with a holiday in Tokyo making
for thin trading conditions and investors waiting to hear the first official
speech from the new head of the European Central Bank later in the session.

    • U.S. government bond yields were higher on Friday after evidence of
stronger-than-expected domestic jobs growth in October outweighed the continued
contraction of the manufacturing sector, under pressure from the U.S.-China
trade war.
    • Oil prices eased as traders remained cautious ahead of fresh European and
U.S. economic data, despite hopes for some resolution to the U.S.-China trade
row that has hurt global economic growth and crimped energy demand.
    • Gold prices slipped on signs that a U.S.-China trade deal could be signed
this month and as a string of strong economic data bolstered investors' appetite
for riskier assets, taking some shine off the precious metal.
                   CLOSE        FII INVESTMENTS  EQUITIES        DEBT
 PNDF spot         70.90/70.93  November 1       1,989.84 crore  1,056.56
 10-yr bond yield  6.48%        Month-to-date    1,990 crore     1,057 crore
                                Year-to-date     70,543 crore    33,913 crore
 (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  = 70.60 Indian rupees)

 (Compiled by Nayyar Rasheed in Bengaluru)