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Morning News Call - India, November 9

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    FACTORS TO WATCH
    8:30 am: Glenmark Pharmaceuticals conference call post second-quarter
earnings.
    10:00 am: Gland Pharma IPO opens for subscription.
    10:00 am: Ashok Leyland investors conference call post second-quarter
earnings.
    3:00 pm: Coal Minister briefs media post completion of bidding process for
commercial coal mine auction. 
    
    PROMOTION
    LIVECHAT-REUTERS GLOBAL MARKETS FORUM
    Mike Dolan, Reuters Editor at Large, Finance and Markets, discusses themes
in play for the upcoming week. To join the discussion at 3:30 pm IST, click here
here
 
    
    
    INDIA TOP NEWS
    • Future Retail challenges Amazon in court over Reliance deal
Future Retail has challenged its partner Amazon.com in a New Delhi court to stop
interfering in its $3.4 billion asset sale deal, the Indian company said in a
statement on Saturday.
    • PwC affiliate quits as Carlsberg India auditor, avoids opinion for 2nd
year
PwC's India affiliate has resigned as the auditor of Carlsberg India, declining
for a second year in a row to give an opinion on its financial results, the
brewer and two people familiar with the matter told Reuters.
    • Google, Walmart's PhonePe hit by India's move to limit some digital
payments players 
Global tech giant Google on Friday criticised India's move to cap the share of
transactions some companies within the country's digital payments space can
account for, saying it would hinder the nation's burgeoning digital payments
economy.
    • India regulator allows new fund category, soothing industry worries
India's market regulator has introduced a new category of mutual funds that can
invest freely across large-, mid- and small-cap stocks, less than two months
after a rule change sparked fears that some funds could be forced to reallocate
their holdings.
    • Prayers of gratitude for election of 'daughter of India' Harris as U.S. VP
Indians burst firecrackers on Sunday and offered prayers of gratitude over the
election of Kamala Harris as the next U.S. vice president, declaring it a proud
moment for Indian-Americans.
    • India's top general says face-off with China could spark bigger conflict
India's top military commander said on Friday a tense border standoff with
Chinese forces in the western Himalayas could spark a larger conflict, even as
senior commanders from both sides met near the frontline for their eighth round
of talks.
    
    
    GLOBAL TOP NEWS
    • Facing a divided U.S., Biden and aides plan for the 'hard work of
governing'
Joe Biden and his advisers on Sunday were working on plans to tackle the crises
facing a divided America, first and foremost the raging coronavirus pandemic, a
day after the Democrat won enough states to clinch the U.S. presidency.

    • China Oct exports surge, imports rise amid global recovery
China exports grew at the fastest pace in 19 months in October, while imports
also rose, official data showed on Saturday, as the world's second largest
economy continued to recover after being hit hard by the coronavirus crisis
earlier this year.
    • U.S. becomes first nation to cross 10 million COVID-19 cases as third wave
of infections surge
The United States became the first nation worldwide since the pandemic began to
surpass 10 million coronavirus infections, according to a Reuters tally on
Sunday, as the third wave of the COVID-19 virus surges across the nation.

    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were 0.6% higher at 12,428.20.
    • The Indian rupee is likely to open higher against the dollar tracking a
broad-based advance in regional currencies after Democrat Joe Biden was declared
as the next U.S. President.
    • Indian federal government bond yields will likely edge higher in early
session, after weaker-than-anticipated demand at the weekly debt auction on
Friday hurt sentiment. The yield on the benchmark 5.77% 2030 bond is likely to
trade in a 5.85%-5.90% band today. 

        
    GLOBAL MARKETS
    • U.S. stock index futures rose on Sunday after President-elect Joe Biden
was declared the winner on in a highly contentious election.
    • The dollar hit a 10-week low as investors heralded Joe Biden's election as
U.S. president by buying trade-exposed currencies on expectations that a calmer
White House could boost world commerce and that monetary policy will remain
easy.
    • U.S. Treasury yields rose on Friday while the market kept a close eye on
the latest election developments that showed Democrat Joe Biden on the verge of
winning the presidency.
    • Oil prices gained, with Brent futures rising above $40 a barrel, after Joe
Biden clinched the U.S. presidency and buoyed risk appetite, offsetting worries
about impact on fuel demand from the worsening coronavirus pandemic.
    • Gold prices edged higher in early Asian trade, propped up by a weaker
dollar and hopes of more stimulus measures under U.S. President-elect Joe Biden.

    
    
                   CLOSE        FII INVESTMENTS  EQUITIES         DEBT
 PNDF spot         74.13/74.16  November 6       5,403.11 crores  222.55 crores
 10-yr bond yield  5.87%        Month-to-date    6,564 crores     847 crores
                                Year-to-date     54,452 crores    (1,06,299) 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 = 73.93 Indian rupees)
 

 (Compiled by Pathikrit Bandyopadhyay in Bengaluru)
  
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