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Morning News Call - India, November 5

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    FACTORS TO WATCH
    11:00 am: Finance Industry Development Council Director General Mahesh
Thakkar, State Bank of India Deputy Chief Technical Officer Amit Saxena among
others at National BFSI Technology summit.
    11:00 am: KEC International investors conference call post second-quarter
earnings.
    11:30 am: Hindustan Petroleum analyst conference call post 2Q earnings.
    12:00 pm: United Spirits conference call post second-quarter earnings.
    12:00 pm: Balrampur Chini Mills conference call post second-quarter
earnings.
    2:30 pm: EIH conference call post second-quarter earnings.
    3:00 pm: Minister of State for Chemicaks Mansukh Mandaviya at FICCI webinar
on the outlook for agrochemicals industry.
    4:00 pm: Godrej Agrovet investors conference call post second-quarter
earnings.
    4:00 pm: Apollo Tyres investors conference call post second-quarter
earnings.
    4:30 pm: Larsen & Toubro Chief Executive and Managing Director S.N.
Subrahmanyan, Bandhan Bank Managing Director Chandra Shekhar Ghosh, Indraprastha
Gas Managing Director A.K. Jana at Business Standard event.
    5:30 pm: Aditya Birla Capital conference call post second-quarter earnings
    6:00 pm: Lupin conference call post second-quarter earnings.

    PROMOTION
    LIVECHAT-REUTERS GLOBAL MARKETS FORUM
    Sara Croom, strategist director at the Prosper Group, discusses the results
of the U.S. elections and the policy implications for major issues. To join the
conversation at 8:30 pm IST, click here here
    
    
    INDIA TOP NEWS
    • India's largest bank sees stronger credit growth after profit beat
    State Bank of India, the country's largest lender by assets, on Wednesday
forecast stronger annual credit growth and beat estimates for quarterly profit
as economic activity gathers momentum after being hammered by one of the world's
strictest lockdowns.
    • Top Indian news anchor arrested for alleged abetment of suicide
One of India's top TV news anchors, Arnab Goswami, was arrested by police in
Mumbai on Wednesday for alleged abetment of suicide in a case registered in
2018, his channel said in a statement.
    • India's services activity grows in October for first time in 8 months
Activity in India's dominant services industry, expanded for the first time in
eight months in October as demand surged, but pandemic-hit firms continued to
cut jobs, a private survey showed on Wednesday.
    
    
    GLOBAL TOP NEWS
    • Biden predicts victory in U.S. election; Trump launches lawsuits to stop
vote counting
    Democrat Joe Biden on Wednesday predicted a U.S. election win over President
Donald Trump after pivotal victories in Michigan and Wisconsin, while the
Republican incumbent sought to offset a narrowing path to re-election with
lawsuits and demands for a recount.
    • Republicans on track to dash Democratic hopes of U.S. Senate majority
    Republicans appeared poised to retain control of the U.S. Senate on
Wednesday, after Senator Susan Collins defied political odds to win re-election
in Maine and other Republican incumbents led Democrats in a handful of undecided
races.
    • Singapore banks' Q3 profits skid but beat market estimates
Singapore's top lenders, DBS Group Holdings and Oversea-Chinese Banking Corp,
reported declines in quarterly profits, hit by lower net interest income, but
the results still came in above analysts' estimates.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading 1.3% higher at 12,062.50. 
    • The Indian rupee is expected to rise against the U.S. dollar tracking
upbeat Asian currencies and equities amid likelihood that Democratic Party
nominee Joe Biden could win the U.S. presidential elections.
    • Indian federal government bond yields will likely open largely unchanged
ahead of the central bank’s open market operation in state debt later today. The
yield on the benchmark 5.77% 2030 bond is likely to trade in a 5.86%-5.92% band
today, a trader with a primary dealership said. 

  
    GLOBAL MARKETS
    • U.S. stocks surged to close higher on Wednesday as the presidential
election race remained cloudy but the likelihood of gridlock in Congress made
investors optimistic that major policy changes would be difficult to enact.
    • Asian share markets firmed while bonds held big gains as investors awaited
a clear result from the U.S. election, with the likely prospect of policy
gridlock seemingly warmly welcomed by Wall Street overnight.
    • The dollar slipped to its weakest level in more than two years against the
yuan and ground lower against other Asian currencies as Democrat Joe Biden edged
ever so closer to the White House in a nail-biting U.S. presidential
election.
    • U.S. Treasury yields tumbled on Wednesday after incomplete election
results pointed to a still-divided national government and the likelihood for a
smaller stimulus plan to revive the pandemic-slammed economy.
    • U.S. oil prices dropped as the dollar strengthened on growing expectations
Democrat Joe Biden would win the U.S. presidential election but the Republicans
would retain Senate control, holding back any huge COVID-19 relief package.
    • Gold prices were little changed after early U.S. election results
suggested a lead for Democrat contender Joe Biden, even as the possibility of a
contested result remained.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES         DEBT
 PNDF spot         74.71/74.74  November 4       1,542.98 crores  1,576.26 crores
 10-yr bond yield  5.89%        Month-to-date    993 crores       1,701 crores
                                Year-to-date     48,881 crores    (1,05,445) crores
 
    
    
    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=74.28 Indian rupees)
 

 (Compiled by Pathikrit Bandyopadhyay in Bengaluru)
  
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