April 9, 2019 / 3:23 AM / in 13 days

Morning News Call - India, April 9

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    FACTORS TO WATCH
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    INDIA TOP NEWS
    • Ahead of elections, BJP vows to strip Jammu and Kashmir of special rights
The Hindu nationalist ruling party vowed on Monday to strip decades-old special
rights from the people of Jammu and Kashmir, making an election promise that
provoked warnings of a backlash in the country's only Muslim-majority state.

    
    • Jet Airways lenders lay out bid terms for 75 percent stake in airline
Prospective bidders of struggling Jet Airways need to settle the airline's
existing debt as part of any deal to buy a stake in the carrier, its consortium
of lenders led by State Bank of India said in a statement on Monday.

    
    • Adani's Australian coal mine wins further environmental approval
Adani Enterprises has taken a step closer to the construction of a controvesial
thermal coal mine in Australia after winning federal government approval for its
groundwater management plan.
    
    • Jaguar Land Rover begins Brexit-linked UK plant shutdowns
Jaguar Land Rover shut its UK plants on Monday for five days over Brexit, adding
to other shutdowns to leave at least half the country's car production off-line
in what could be a pivotal week for Britain's divorce from the EU.

    • HDFC Bank plans to raise 500 billion rupees via debt issue
HDFC Bank said on Monday it plans to raise up to 500 billion rupees by issuing
debt over the next 12 months.
    
    • India passenger vehicle sales to pick up pace after growth slows
India's passenger vehicle sales are expected to grow between 3-5 percent in the
current fiscal year, after expanding at the slowest pace in five years last
year, the country's auto industry body said on Monday.

    • Facebook says has made headway against abuses ahead of India election
Facebook has said it has made strides in its efforts to prevent online abuses in
the Indian national election that starts this week but acknowledged that gaps
remain in its "election integrity" efforts.
    
    
    GLOBAL TOP NEWS
    • Theresa May to ask Merkel and Macron for Brexit delay
British Prime Minister Theresa May will meet German Chancellor Angela Merkel and
French President Emmanuel Macron on Tuesday to argue for a Brexit delay while
her ministers hold crisis talks with Labour to try to break the deadlock in
London.

    • U.S. 'not satisfied yet' in China trade talks -White House official
U.S. officials are "not satisfied yet" about all the issues standing in the way
of a deal to end the U.S.-China trade war but made progress in talks with China
last week, a top White House official said on Monday.
    
    • Secret Service chief to leave in Trump security shake-up
President Donald Trump has ordered a shake-up of the leadership of the
Department of Homeland Security, the head of the U.S. Secret Service said on
Monday, after the White House said the official would be soon be leaving his
post.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were little changed, trading at 11,685.00,
from its previous open.

    • The Indian rupee is expected to recover from one-month lows against the
U.S. currency after the dollar index suffered its biggest fall in three weeks. 

    • Indian government bonds will likely trade little changed in morning
session ahead of an auction of state debt securities today. The benchmark 7.26
percent bond maturing in 2029 is likely to trade in a 7.38 percent-7.43 percent
band today.

    
    GLOBAL MARKETS
    • The S&P 500 and the Nasdaq edged into positive territory on Monday, with
gains held in check by falling industrials as investors braced for what analysts
now expect to be the first quarter of contracting earnings since 2016.
    • Asian shares struggled to make gains as investors braced for key events
later in the week, including the start of the U.S. earnings season and a crucial
Brexit summit, while broader concerns about slowing global growth checked
sentiment.
    • The dollar sagged after weak U.S. economic data while commodity-linked
currencies such as the Canadian and Australian dollars drew support from an
ongoing surge in crude oil prices.
    • U.S. Treasury debt prices drifted lower in generally quiet trading on
Monday, pressured by upcoming government debt and corporate supply.
    • Oil prices eased, slipping away from 5-month highs reached earlier in the
session as a sluggish economic outlook countered an otherwise tight market.
    • Gold inched higher, trading just below a more than one-week peak hit in
the previous session, as Asian equities eased and the dollar weakened following
sombre U.S. economic data.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES    DEBT
 PNDF spot         69.62/69.65  April 8          $47.47 mln  -$116.06 mln
 10-yr bond yield  7.4 pct      Month-to-date    $1.40 bln   -$1.13 bln
                                Year-to-date     $8.24 bln   -$1.58 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 = 69.51 Indian rupees)

 (Compiled by Avina Ajit in Bengaluru)
  
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