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Morning News Call - India, October 27

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    FACTORS TO WATCH
    10:30 am: Mahindra & Mahindra Financial Services conference call post 2Q
results.
    11:00 am: Finolex Industries conference call post 2Q earnings.
    11:30 am: Transport Minister Nitin Gadkari lays foundation stones of nine
National Highway projects in Tripura. 
    11:30 am: Angel Broking conference call post 2Q results.
    12 noon: DPIIT Secretary Guruprasad Mohapatra at CII’s webinar.
    12 noon: Goods and Services Tax Network Senior Vice President Rajeev
Agarwal, Indirect Taxes Committee Chairman Bimal Jain at PHD Chamber of Commerce
webinar.
    2:00 pm: Defence Minister Rajnath Singh, External Affairs Minister S.
Jaishankar, U.S. Secretary of State Michael R. Pompeo at India-U.S. Ministerial
Dialogue.
    4:00 pm: Finance Minister Nirmala Sitharaman, Petroleum Minister Dharmendra
Pradhan, Commerce Minister Piyush Goyal at India Energy Forum.
    4:00 pm: Health Ministry briefing on Covid-19 situation in India in New
Delhi. 
    5:00 pm: Tata Motors Group Chief Financial Officer P.B. Balaji at conference
call post 2Q earnings.
    7:30 pm: ICICI Prudential Life Insurance conference call post 2Q earnings.
    
    PROMOTION
    LIVECHAT - REUTERS GLOBAL MARKETS FORUM
    David McInnis, principal and co-founder of the East Paces Group in Atlanta,
GA, joins the forum to discuss risk management and portfolio strategies ahead of
election week. To join the conversation at 8.30 pm IST, click here here
    
    
    INDIA TOP NEWS
    • In fight with Amazon, Future Retail sees liquidation if Reliance deal
fails
    Future Retail Ltd will go into liquidation if its deal to sell assets to
Reliance Industries fails, the group told a Singapore arbitrator while arguing
against Amazon.com Inc's bid to scupper the deal, a legal order seen by Reuters
showed.
    • India to drive global energy demand while cutting emissions
    India will be the major driver of global energy demand in the years to come,
but will hold down carbon emissions even as its power consumption soars, Prime
Minister Narendra Modi said on Monday.
    • India, U.S. clinch defence pact on satellite data as Pompeo, Esper hold
talks
    India will sign a military agreement with the United States for sharing of
sensitive satellite data, the defence ministry said on Monday, as the two sides
began a top-level security dialogue aimed at countering China's growing power in
the region.
    • Ethanol use seen growing quickly in India, not as much in Thailand
    Ethanol production and consumption in India, the world's third largest fuel
market, is expected to increase quickly in coming years as the government seems
keen to push the industry to higher blend rates, an industry official said on
Monday.
    
    
    GLOBAL TOP NEWS
    • Trump, Biden vie for votes in battleground Pennsylvania as election nears
    With eight days to go until the U.S. election, President Donald Trump
addressed boisterous rallies in Pennsylvania on Monday, while Democrat Joe Biden
made a low-key appearance in the state considered crucial to the chances of
victory for both men.
    • Wave of new COVID-19 cases crashes across U.S. and Europe as winter looms
    The United States, Russia, France and many other countries are setting
records for coronavirus infections as a tidal wave of cases washes over parts of
the Northern Hemisphere, forcing some countries to impose new curbs.

    • Pelosi optimistic of COVID-19 relief deal before Nov. 3 U.S.
elections-aide
    U.S. House of Representatives Speaker Nancy Pelosi is hopeful that
congressional Democrats and the Trump administration can reach agreement on a
coronavirus relief bill before the Nov. 3 elections, her spokesman said on
Monday, adding that major issues still must be ironed out.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading 0.5% higher at 11,838.20.
    • The Indian rupee is expected to weaken more against the U.S. currency,
tracking the broad dollar strength amid worries over the resurgence of the
coronavirus in the U.S. and Europe.
    • Indian government bond yields are likely to trade little changed in early
session, ahead of a fresh supply of state debt today. The yield on the benchmark
5.77% bond maturing in 2030 is likely to trade in a 5.80%-5.85% band today.
    
    
    GLOBAL MARKETS
    • U.S. stocks tumbled on Monday in thin trade, with the S&P 500 posting its
biggest daily decline in four weeks, as soaring coronavirus cases and
uncertainty about a fiscal relief bill in Washington dimmed the outlook for the
U.S. economic recovery.
    • Asian markets look set to continue a downward path after soaring global
coronavirus cases and shrinking hopes for a U.S. stimulus deal took a toll on
Wall Street and drove up the U.S. dollar.
    • The dollar clung to small gains as the greenback's safe-haven appeal was
burnished by worries about a second wave of COVID-19, which drove the steepest
stock market selloff in a month and underpinned a bond rally.
    • Longer-term U.S. Treasury yields fell on Monday as investors sold stocks
amid a fast-rising case count in the COVID-19 pandemic and as stimulus talks in
Washington dragged on.
    • Oil prices regained a semblance of stability after suffering sharp losses
over the previous session and last week, as a resurgence of coronavirus cases
globally hit prospects for crude demand while increasing supply also hurt
sentiment.
    • Gold prices gained in early Asia trade, supported by a weaker dollar and
concerns stemming from the surging coronavirus spread globally and its economic
fallout.
      
                   CLOSE        FII INVESTMENTS  EQUITIES         DEBT
 PNDF spot         73.83/73.86  October 26       1,070.48 crores  1,841.70 crores
 10-yr bond yield  5.83%        Month-to-date    16,713 crores    3,355 crores
                                Year-to-date     45,060 crores    (1,05,432) 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 = 73.95 Indian rupees) 


 (Compiled by Pranay Prakash in Bengaluru)
  
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