April 13, 2018 / 3:25 AM / 6 months ago

Morning News Call - India, April 13

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    FACTORS TO WATCH
    5:00 pm: RBI to release weekly foreign exchange data in Mumbai.
    7:00 pm: Telecom Minister Manoj Sinha at an event in New Delhi.
    
    LIVE CHAT - WEEKAHEAD
    Reuters EMEA markets editor Mike Dolan discusses the upcoming week's main
market inflection points at 3.30 pm IST. To join the Global Markets Forum, click
here To join the conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • U.S. reviewing trade preferences for India, Indonesia, Kazakhstan
    The United States is reviewing the eligibility of India, Indonesia and
Kazakhstan for a program that allows duty-free imports of certain goods, the
U.S. Trade Representative's Office said on Thursday.
    • India's Hero, Burman offer to invest in Fortis Healthcare 
    India's Fortis Healthcare said on Thursday it had received an investment
offer worth 12.5 billion rupees from Hero Enterprise Investment Office and the
Burman Family Office.
    • HCL Tech, PE firm to buy U.S. data management firm Actian
    Indian IT services company HCL Technologies Ltd and private equity firm
Sumeru Equity Partners will buy U.S. data management firm Actian Corp in a $330
million deal, the companies said on Thursday.
    • Essar Oil settles $2.5 bln Iran oil dues, still owes about $616 million 
    Essar Oil has settled about 2 billion euros in dues to Iran to cover
previous oil purchases and still owes the country about $616 million, Chief
Executive B. Anand said on Thursday.
    • Thyssenkrupp, Tata Steel delay signing of steel joint venture
    A steel joint venture between Thyssenkrupp and Tata Steel will be delayed by
ongoing talks between the Indian group and its British and Dutch workers, the
German company said on Thursday.
    • Boeing to team up with India's HAL and Mahindra for fighter jet
    Boeing will partner with India's state-run Hindustan Aeronautics and
Mahindra Defence Systems for local manufacture of its F/A-18 Super Hornet that
it is offering for a large Indian fighter acquisition programme, the U.S.
company said on Thursday.
    • India's GAIL says LNG supply from Gazprom will start from May
    India's state-owned gas supplier and developer GAIL Ltd plans to buy 0.5
million tonnes or eight cargoes of liquefied natural gas from Russia's Gazprom
in 2018/19, its chairman and managing director B.C. Tripathi said.
    • Walmart close to buying majority of India's Flipkart, deal likely by
end-June-sources
    Walmart Inc is likely to reach a deal to buy a majority stake in Indian
e-commerce player Flipkart by the end of June in what could be the U.S. retail
giant's biggest acquisition of an online business, two people with direct
knowledge of the matter said.
    
        
    GLOBAL TOP NEWS
    • Trump weighs Syria options, Russia envoy says he 'cannot exclude' war
    President Donald Trump and his national security aides on Thursday discussed
U.S. options on Syria, where he has threatened missile strikes in response to a
suspected poison gas attack, as a Russian envoy voiced fears of wider conflict
between Washington and Moscow.
    • BlackRock snags more assets in market rout, boosts profit
    BlackRock Inc the world's largest asset manager, generated higher profit
during the first quarter by luring more money from investors even as stock and
bond markets fell.
    • Trump now less likely to sit for Mueller interview -sources 
    An interview of U.S. President Donald Trump by special counsel Robert
Mueller was less likely after this week's FBI raids on Trump's personal lawyer,
two people familiar with the matter said on Thursday.
        
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    GX Nifty nearest-month futures at 10,494.50, up 0.25 percent from its
previous close.
    The Indian rupee is likely to edge lower against the dollar as President
Donald Trump's comment eased fears of an imminent military strike on Syria,
renewing demand for the greenback.
    Indian government bonds are likely to edge higher in early trade as the
nation’s key inflation rate fell to a five-month low in March. The yield on the
benchmark 7.17 percent bond maturing in 2028 may trade in a 7.42 percent-7.48
percent band today.  
    
    GLOBAL MARKETS
    • U.S. stocks climbed on Thursday as investors anticipated a strong earnings
season and as U.S. President Donald Trump's suggestion that a military strike on
Syria may not be imminent ratcheted down geopolitical worries.
    • Global stocks recovered to three-week highs as anticipated strong earnings
season took centre stage after U.S. President Donald Trump backtracked on his
suggestion of an imminent missile attack on Syria.
    • The dollar firmed against its peers, supported as an improvement in
investor risk appetite lifted equities and pushed U.S. yields significantly
higher.
    • U.S. Treasury yields climbed on Thursday as risk appetite improved and
geopolitical tensions eased after President Donald Trump said a possible attack
on Syria may not be imminent, contrary to what he signaled on Wednesday.
    • Oil prices edged lower but are set for their biggest weekly gains since
last July following a jump to a more than three-year high earlier in the week on
tensions over Syria and shrinking global oil inventories.
    • Gold edged up after posting its biggest percentage fall in over two weeks
in the previous session, and was set to post a small gain for a second week
running amid tensions over Syria and a U.S.-China trade stand-off.
    
                   CLOSE        FII INVESTMENTS  EQUITIES       DEBT
 PNDF spot         65.35/65.38  April 12         $56.37 mln     $24.21 mln
 10-yr bond yield  7.62 pct     Month-to-date    - $239.61 mln  $25.81
                                Year-to-date     $1.93 bln      $764.44 mln
    
    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 = 65.2800 Indian rupees)
0 : 0
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