February 12, 2019 / 3:39 AM / 7 days ago

Morning News Call - India, February 12

To access the newsletter, click on the link:
 
 here
    
    
If you would like to receive this newsletter via email, please register at: here
    
    
    FACTORS TO WATCH
    5:30: Government to release January consumer price inflation data and
December industrial production data in New Delhi.
    
     
    INDIA TOP NEWS
    • Monsanto wins arbitration ruling over royalties from Indian seed company
German drugmaker Bayer's Monsanto unit has won proceedings against Indian seed
maker Nuziveedu Seeds in a royalty dispute, lawyers familiar with the matter
said. 
    • Venezuela's PDVSA seeks to barter its oil with India
Venezuela is open to barter payment arrangements with India as it seeks
workarounds to U.S. sanctions imposed in late January, Venezuelan Oil Minister
Manuel Quevedo said on Monday.
    • Thyssenkrupp, Tata Steel to get EU warning on steel JV - sources
Germany's Thyssenkrupp and Tata Steel will be warned this week that EU antitrust
regulators could veto their planned European steel joint venture unless they
offer concessions, people familiar with the matter said on Monday.
    • India plans Axis Bank stake sale to raise up to $748 mln
India's government plans to sell a stake of up to 3 percent in Axis Bank in an
offer that could raise up to 53.16 billion rupees ($747.8 million).
    • India parliament panel says to summon Twitter chief on February 25
An Indian parliamentary panel is summoning Twitter's chief executive to appear
before it later this month, after he did not attend a hearing on Monday to
discuss citizens' rights on social media.
    • SpiceJet sees improving outlook despite profit plunge
Higher passenger yields for low-cost carrier SpiceJet in its third quarter only
partially offset higher crude oil prices and foreign-exchange losses that
resulted in a sharp drop in profit.
    • Algeria's Sonatrach signs $1 billion gas plant deal with Larsen & Toubro
Algeria's Sonatrach has signed a $1 billion contract with Larsen & Toubro to
build plants to produce 11 million cubic metres of gas per day, Sonatrach's CEO
said on Monday.
    
    
    GLOBAL TOP NEWS
    • U.S. lawmakers reach tentative deal to avoid government shutdown
U.S. congressional negotiators said on Monday they reached a tentative deal on
border security funding to avert another partial government shutdown due to
start on Saturday, but an aide said it did not include the $5.7 billion
President Donald Trump wants for a border wall.
    • Pompeo warns allies Huawei presence complicates partnership with U.S.
Secretary of State Mike Pompeo cautioned U.S. allies on Monday against deploying
equipment from Chinese telecoms giant Huawei on their soil, saying it would make
it more difficult for Washington to "partner alongside them".
    • Apple iPhone sales in China fell by a fifth in Q4 -IDC
Apple iPhone sales in China fell 20 percent year-on-year in the fourth quarter
of 2018, while sales for smartphones made by home-grown rival Huawei soared by
23 percent, data from industry research firm IDC showed on Monday. 

    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading 0.3 percent lower at
10,902.50 from its previous close.
    • The Indian rupee is expected to open lower against the U.S. currency after
the dollar index continued its ascent, climbing to near two-month highs.
    • Indian government bonds are expected to open lower, ahead of fresh state
debt supply, while traders await crucial inflation data that will provide cues
on the country’s interest rate trajectory. The yield on the benchmark 7.17
percent bond maturing in 2028 will likely trade in a 7.50 percent-7.56 percent
band today.
    
    
    GLOBAL MARKETS
    • Wall Street see-sawed on Monday, rarely straying far from opening levels
as investors eyed ongoing U.S.-China trade talks, potential congressional
gridlock and a diminished 2019 earnings outlook.
    • Asian shares edged up as investors hoped a new round of U.S.-China trade
talks would help to resolve a dispute that's dented global growth and some
corporate earnings.
    • The dollar held close to its 2019 high as U.S.-Sino trade tensions and
global growth worries underpinned the greenback's safe-haven appeal, while the
euro and the British pound were hurt by troubles of their own.
    • U.S. Treasury yields edged higher on Monday as investors awaited data on
Wednesday that will show inflation pressures in January, and as investors
focused on trade talks between the United States and China.
    • Oil prices rose amid OPEC-led supply cuts and U.S. sanctions against Iran
and Venezuela, although surging U.S. production and concerns over economic
growth kept markets in check.
    • Gold prices eased as investors sought safety in the dollar from a
long-drawn U.S.-China trade war and its impact on the global economic growth.

    
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         71.17/71.20  February 11      -$17.54 mln  -$96.95 mln
 10-yr bond yield  7.53 pct     Month-to-date    $466.76 mln  -$182.35 mln
                                Year-to-date     $391.41 mln  -$988.20 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 = 71.2470 Indian rupees)

 (Compiled by Hrithik Kiran Bagade 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