To access a PDF version of this newsletter, please click here here If you would like to receive this newsletter via email, please register at: here 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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