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Morning News Call - India, October 30

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    FACTORS TO WATCH
    8:00 am: Shriram Transport Finance conference call post 2Q earnings.
    10:00 am: Cummins India conference call post 2Q earnings.
    11:00 am: Bharat Petroleum conference call post 2Q earnings.
    11:30 am: Niti Aayog Vice Chairman Rajiv Kumar, Nomura Research Chief
Economist Richard Koo at FICCI webinar on global markets.
    11:00 am: Laurus Labs analyst conference call post 2Q earnings.
    2:30 pm: Vodafone Idea conference call post 2Q earnings.
    2:30 pm: Dhanuka Agritech conference call post 2Q earnings.
    3:15 pm: Indian Oil Corp. Chairman Shrikant Madhav Vaidya at a virtual press
conference post 2Q earnings.
    4:00 pm: Chief Economic Advisor Krishnamurthy Subramanian, Commerce Minister
Piyush Goyal at FICCI “Massmerize 2020.”
    5:00 pm: IndusInd Bank Chief Executive and Managing Director Sumant
Kathpalia at conference call post 2Q earnings. 
    
    PROMOTION
    LIVECHAT - REUTERS GLOBAL MARKETS FORUM
    Paul Krishnamurty, political betting analyst at Betfair Exchange, will
discuss how odds have shifted after last week's final debate between President
Donald Trump and Democratic candidate Joe Biden as well as the senatorial races
ahead of the Nov. 3 U.S. elections.To join the conversation at 3.30 pm IST,
click here here
    
    
    INDIA TOP NEWS
    • India's top carmaker Maruti Suzuki says no urgent need to cut car taxes
Maruti Suzuki India, India's biggest carmaker, said on Thursday there was no
immediate need for the government to cut taxes on cars to boost sales even as it
warned of uncertainty in demand after December.
    • Vodafone Idea posts slight slip in Q2 revenue on subscriber losses
    Indian telecom operator Vodafone Idea reported a marginal fall in
second-quarter revenue on Thursday, as subscriber losses to rivals overshadowed
benefits from a move to hike tariffs last year.
    • India's top airline IndiGo posts quarterly loss on pandemic hit
    Interglobe Aviation, which runs India's largest airline IndiGo, reported a
quarterly loss on Thursday as pandemic-related travel restrictions continued to
dent its operations.
    • India's September infrastructure output contracts 0.8% y/y
    India's infrastructure output in September contracted 0.8% from a year
earlier, government data released on Thursday showed.
    
    
    GLOBAL TOP NEWS
    • Trump and Biden clash on COVID-19 as they hold rallies in battleground
state Florida
    President Donald Trump and Democratic rival Joe Biden showcased their
contrasting approaches to the resurgent coronavirus pandemic as they rallied
supporters on Thursday in the battleground state of Florida with the clock
winding down to Election Day.
    • Apple's late iPhone launch temporarily wiped $100 billion off its stock
value
The late launch of new 5G phones caused Apple's customers to put off buying new
devices, leading the company on Thursday to report the steepest quarterly drop
in iPhone sales in two years.
    • Global coronavirus cases rise by single-day record of half a million
    Global coronavirus cases rose by more than 500,000 for the first time on
Wednesday, a record one-day increase as countries across the Northern Hemisphere
reported daily spikes.
    
    
    GLOBAL MARKETS
    • U.S. stocks closed higher on Thursday, with the technology heavyweights
rallying ahead of major earnings reports and upbeat domestic economic data
calming investor jitters about surging coronavirus cases.
    • A gauge of Asian shares fell for a third straight session as jitters over
upcoming U.S. presidential elections and fears that the global economic downturn
will persist enveloped markets, though the index was still set to end the month
higher.
    • The dollar firmed and the euro wallowed near a four-week low against the
greenback after the European Central Bank signalled further monetary easing by
the end of the year.
    • Longer-dated Treasury yields rose faster than those at the short end on
Thursday afternoon, steepening the yield curve as the stock market retraced some
earlier losses.
    • Oil prices were higher after hitting a five-month low on Thursday.
    • Gold prices lingered near the one-month low hit in the previous session,
as the dollar strengthened and hopes of an immediate U.S. coronavirus aid
package waned.
        
                   CLOSE        FII INVESTMENTS  EQUITIES         DEBT
 PNDF spot         74.09/74.12  October 29       (872.11) crores  (640.33) crores
 10-yr bond yield  5.88%        Month-to-date    19,541 crores    1,641 crores
                                Year-to-date     47,888 crores    (1,07,146) 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 = 73.94 Indian rupees)
 

 (Compiled by Pranay Prakash in Bengaluru)
  
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