November 30, 2016 / 3:15 AM / a year ago

Morning News Call - India, November 30

To access the newsletter, click on the link:
If you would like to receive this newsletter via email, please register at: here
    11:00 am: Winter session of parliament continues in New Delhi.
    5:00 pm: Government to release October infrastructure output data in New
    5:30 pm: Government to release July-September GDP data in New Delhi.
    5:30 pm: Chief Statistician T.C.A. Anant to brief media after release of GDP
data in New Delhi.
    6:10 pm: Federal cabinet likely to meet in New Delhi. Agenda not given.
    LIVECHAT - TRADING INDIA FORUM - Bankruptcy Law with Sumant Batra,
Litigation Lawyer, Founder & mentor - Kesar Dass B & Associates
    While all eyes have been on GST as a reform, many industry observers believe
that the bankruptcy law is as important. We speak to Sumant, on its implications
and the nitty-gritties, at 11:00 a.m. Kesar Dass B. & Associates is a full
service commercial and litigation law firm, operating in South Asia. It has a
prestigious list of clients, which include OECD, SAARC, World Bank, ADB,
UNCITRAL besides industrial houses like ICICI, Kotak, IDBI, National Stock
Exchange, Hero, amongst others. To join the conversation, click on the link: here
    LIVECHAT - CHARTING FX with Martin Miller, Reuters technical analyst
    Take a look at the FX charts with Martin miller, at 4:30 p.m. To join the
conversation, click on the link: here
     Chilled by demonetisation, India to take cold comfort from strong GDP
    India can ill-afford to take much pride in having the world's fastest
growing large economy when it releases September quarter data, with businesses,
farmers and families all suffering after the government's sudden demonetization
     Militants kill seven after storming Indian army base
    Militants attacked an army base near the Indian city of Jammu on Tuesday,
killing at least seven security personnel and taking hostages in the boldest
assault on a military base in the region in recent months, officials said.
     Ban on rupee bank notes worries British Indians
    British Indians are calling for an extension to a deadline which could see
some of their cash become worthless by the end of December, as part of Prime
Minister Narendra Modi's shock decision earlier this month to abolish 500 and
1,000 rupee banknotes. 
     SAIL to sell stakes in three units via auction
    State-run Steel Authority of India Ltd (SAIL) has received approval 'in
principle' from the government to sell stakes in three units, the company said
in a statement on Tuesday. 
     India has sufficient sugar, unlikely to import - ISMA 
    India is unlikely to need to import sugar in the 2016/17 season despite a
drop in production, Abinash Verma, director general of the Indian Sugar Mills
Association said on Tuesday. 
     German union leader says will fight for plants in Tata-Thyssen merger
    Thyssenkrupp's powerful labour chief said workers would resist shutting down
capacity in any merger of the German industrial group's European steel business
with that of peer Tata Steel. 
     Pakistan's outgoing army chief sends warning to India over Kashmir
    Pakistan's outgoing army chief issued a stern warning to India over violence
in the disputed region of Kashmir on Tuesday as he handed over command, saying
patience should not be mistaken for weakness. 
     Jaguar Land Rover to build new Discovery in Slovakia
    Jaguar Land Rover said on Tuesday it will build its next-generation
Discovery sport utility vehicle in Slovakia, the first car chosen for the 1
billion pound plant which is due to open in 2018.    
     Iran, Iraq at loggerheads with Saudis ahead of OPEC meeting
    Iran and Iraq are resisting pressure from Saudi Arabia to curtail oil
production, making it hard for the Organization of the Petroleum Exporting
Countries to reach a deal to limit output and boost the price of crude when it
meets on Wednesday. 
     Japan October factory output steady, November seen solid in sign of
tentative recovery
    Japan's industrial output rose in October from the previous month and
manufacturers say production likely bounced sharply this month, preliminary
government data showed, in a sign of a tentative pickup in factory activity.
     Trump picks loyalists for economic posts, Obamacare critic for cabinet
    President-elect Donald Trump on Tuesday chose a former Goldman Sachs banker
and a billionaire investor to steer economic policy in his administration and a
fierce Obamacare critic to dismantle President Barack Obama's signature
heathcare program. 
    (As reported by NewsRise)
     The SGX Nifty Futures were trading at 8,185.50, up 0.2 pct from its
previous close.
     The Indian rupee is poised to open higher against the dollar, tracking
most of its Asian peers, as the greenback fell for a third day despite a
stronger-than-expected U.S. third-quarter gross domestic product print.
     Indian sovereign bonds will likely open steady to lower in the absence of
fresh triggers ahead of growth data, even as investors remain wary of potential
government measures to curb the surfeit of liquidity with banks. The yield on
the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.30 pct -
6.35 pct band.
     U.S. stocks edged higher on Tuesday as an upbeat outlook from UnitedHealth
lifted health insurers, though a sharp drop in oil prices weighed on energy
shares and limited the advance. 
     Asian stocks edged higher reflecting upbeat U.S. growth news while oil
steadied after a sharp drop overnight as OPEC struggled to agree on a
glut-draining production cut. 
     The dollar moved sideways against the yen and euro, as traders braced for
a meeting by OPEC later in the day which could potentially churn financial
markets and weigh on the U.S. currency. 
     U.S. Treasury yields edged lower on Tuesday, with long-dated yields
touching their lowest levels in nearly two weeks, as institutional investors
bought U.S. government bonds to balance their portfolios after this month's
     Oil markets were jittery ahead of an OPEC meeting later in the day, with
members of the producer cartel trying to thrash out an output cut to curb
oversupply that has seen prices more than halve since 2014. 
     Gold prices held steady as markets braced for the outcome of an OPEC
meeting later in the day, with members of the producer cartel trying to seal a
deal to boost oil markets. 
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         68.62/68.65  November 29      -$104.20 mln  -$92.21 mln
 10-yr bond yield  6.47 pct     Month-to-date    -$2.46 bln    -$2.16 bln
                                Year-to-date     $4.30 bln     -$3.21 bln
    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 = 68.65 Indian rupees)

 (Compiled by Sai Sharanya Khosla in Bengaluru)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below