April 12, 2019 / 3:23 AM / in 11 days

Morning News Call - India, April 12

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
    10:30 am: Punjab National Bank MD & CEO Sunil Mehta at bank’s 125th
foundation day celebration event in New Delhi.
    5:00 pm: RBI to release weekly foreign exchange data in Mumbai.
    5:30 pm: Government to release March consumer price inflation data in New
Delhi.
    5:30 pm: Government to release February Industrial production data in New
Delhi.

    LIVECHAT - CHARTS & CHAT 
    Reuters Stocks Buzz writer and Chartist Terence Gabriel calls out risks and
opportunities in global markets via the charts at 8:00 pm IST. To join the
conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • Jet Airways cancels some long-haul flights as it grounds more planes 
Beleaguered Jet Airways said on Thursday 10 more of its planes had been grounded
over unpaid dues to leasing companies, pushing it to the brink of shutdown and
jeopardising hopes of a new investor rescuing the carrier.

    • Ban on TikTok app would harm free speech, China's Bytedance tells Supreme
Court
An Indian court's call for a ban on the popular video app TikTok will hurt free
speech rights, China's Bytedance Technology has said in a request for the
Supreme Court to quash the directive.

    • India Inc is seeking dollar borrowings, but only select firms will find
Indian companies are lining up to seek dollar-denominated debt as global
interest rates soften, but only a few are likely to find it as foreign investors
remain wary about the credit quality of many, bankers say.

    • Sugar mills owe record $4.38 billion to cane growers
India's money-losing sugar mills have run up a record $4.38 billion in arrears
to 50 million cane farmers, who have gone unpaid for their produce for more than
a year, industry and government sources said on Thursday.

    • Indian demand surge drives silver consumption to three-year high
Global silver demand rose 4 percent last year, chalking up its first increase
since 2015 thanks to sharply higher consumption in India, with a supply fall
creating a small deficit, an industry report said on Thursday.
    
    
    GLOBAL TOP NEWS
    • IMF chief says Brexit delay averts 'terrible outcome'
The six-month delay of Britain's exit from the European Union avoids the
"terrible outcome" of a "no-deal" Brexit that would further pressure a slowing
global economy but does nothing to lift uncertainty over the final outcome, the
head of the International Monetary Fund said on Thursday.
 
    • Uber unveils IPO with warning it may never make a profit
Uber Technologies has 91 million users, but growth is slowing and it may never
make a profit, the ride-hailing company said on Thursday in its initial public
offering filing.

    • U.S. charges Assange after London arrest ends 7 years in Ecuador embassy
British police dragged WikiLeaks founder Julian Assange out of Ecuador's embassy
on Thursday after his seven-year asylum was revoked, paving the way for his
extradition to the United States for one of the biggest ever leaks of classified
information.
     
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading down 0.2 percent at
11,644.00, from its previous close.

    • The Indian rupee is expected to open lower against the dollar after U.S.
jobless claims dropped to a 50-year low and producer prices in the world’s
largest economy surged.  

    • Indian bonds are likely to trade little changed as investors await the
retail inflation data for March and a weekly auction of notes. The yield on the
benchmark 7.26 percent bond maturing in 2029 is likely to trade in a range of
7.35 percent-7.40 percent until the auction cutoffs, a trader with a private
bank said.

    
    GLOBAL MARKETS
    • The S&P 500 ended little changed on Thursday as growing anxiety over a
global economic slowdown offset upbeat data and investors waited for earnings
season to kick into high gear.
    • Asian shares were flat and U.S. Treasury yields pulled back as investor
caution prevailed ahead of the release of first-quarter corporate earnings,
although stronger U.S. economic data helped offset some concerns about global
growth.
    • The dollar held firm after strong U.S. labour and inflation data soothed
concerns about the world's largest economy, while falling oil prices weighed on
commodity-linked currencies such as the Canadian and Australian dollars.
    • U.S. Treasury yields rose on Thursday after generally solid data on U.S.
jobless claims and producer prices that may have eased worries about a steep
downturn for the U.S. economy.
    • Oil prices were firm, supported by ongoing supply cuts led by producer
club OPEC and by U.S. sanctions on petroleum exporters Iran and Venezuela.
    • Gold prices steadied, having posted their biggest daily decline in two
weeks in the previous session after robust U.S. economic data lifted the dollar.

    
                   CLOSE        FII INVESTMENTS  EQUITIES    DEBT
 PNDF spot         68.95/68.98  April 11         $69.12 mln  -$163.81 mln
 10-yr bond yield  7.37 pct     Month-to-date    $1.77 bln   -$1.40 bln
                                Year-to-date     $8.62 bln   -$1.85 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 = 69.01 Indian rupees)

 (Compiled by Avina Ajit 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