August 18, 2017 / 3:19 AM / a year ago

Morning News Call - India, August 18

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    9:30 am: NITI Aayog CEO Amitabh Kant at National Summit on 100 Smart Cities
India 2017 in New Delhi.
    10:00 am: Junior Minister PMO Jitendra Singh, NITI Aayog CEO Amitabh Kant at
ASSOCHAM World Entrepreneurs’ Day 2017 in New Delhi.
    5:00 pm: RBI to release weekly foreign exchange data in Mumbai.
    The first of our Friday quizzes focuses on Asia and the week's top news.
Tests your wits and googling speed at 11:00 am IST. To join the conversation,
click on the link: here
    • Taking aim at China, India tightens power grid, telecoms rules 
    India is tightening the rules for businesses entering its power transmission
sector and making stringent checks on both power and telecoms equipment for
malware - moves that government and industry officials say aim to check China's
advance into sensitive sectors.
    • India clears purchase of six Boeing helicopters in $650 million deal 
    India cleared the purchase of six more Boeing Co Apache helicopters in a
deal worth close to 42 billion rupees, a defence ministry official said.

    • HDFC Bank cuts rates on certain savings accounts 
    HDFC Bank Ltd cut interest rates on most of its savings accounts to 3.5
percent from 4 percent.
    • Spain hunts driver who killed 13 in Barcelona, says foils bomb plot 
    Spain mounted a sweeping anti-terror operation after a suspected Islamist
militant drove a van into crowds in Barcelona, killing 13 people before fleeing,
in what police suspect was one of multiple planned attacks.
    • Fellow Republicans assail Trump after he defends Confederate monuments
    President Donald Trump decried the removal of monuments to the pro-slavery
Civil War Confederacy, echoing white nationalists and drawing stinging rebukes
from fellow Republicans in a controversy that has inflamed racial tensions.

    • U.S., Japan step up defense cooperation to counter North Korea
    The United States and Japan will step up their defense cooperation to deal
with the threat from nuclear-armed North Korea as tensions in East Asia remain
high, officials from the two allies said.
    (As reported by NewsRise)
    • The SGX Nifty Futures was trading at 9,861.00, trading down 0.5 percent
from its previous close.
    • The Indian rupee will likely open lower against the dollar, as caution
over U.S. President Donald Trump-led administration's ability to push forward
reforms in the world’s largest economy and a likely terrorist attack in
Barcelona sapped investors’ appetite for risk assets.
    • Indian sovereign bonds are likely to fall in early trade, after minutes of
the rate-setting Monetary Policy Committee’s August meeting showed several
members were concerned about a further rise in inflation. The yield on the
benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.50
percent-6.56 percent band.
    • U.S. stocks sold off on Thursday, with the S&P 500 recording its biggest
daily percentage drop in three months as escalating worries about the Trump
administration's ability to push through its economic agenda rattled investors.

    • Asian stock investors joined a global retreat from riskier assets and the
dollar wavered on growing doubts about U.S. President Donald Trump's ability to
fulfill his economic agenda.
    • U.S. Treasury yields fell on Thursday as investors, unnerved by a deadly
attack in Barcelona and speculation about a top White House economic adviser
quitting, favored safe, low-yielding bonds over stocks and other risky assets.

    • Oil prices fell as part of a broad-based selloff across markets and
despite signs that crude markets are gradually tightening.
    • Gold was mostly steady early amid weaker Asian stocks, with some investors
gravitating towards safe-haven assets on political uncertainty in the United
States and after a van mowed through crowds in Barcelona, killing at least 13
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         64.18/64.21  August 17        -$152.89 mln  -
 10-yr bond yield  -            Month-to-date    -             -
                                Year-to-date     -             -
    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 = 64.1650 Indian rupees)

 (Compiled by Erum Khaled in Bengaluru)
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