February 19, 2018 / 3:35 AM / 7 months ago

Morning News Call - India, February 19

(Debt and currency markets are closed on Monday, February 19 for Shivaji
Jayanti.)

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    FACTORS TO WATCH
    10:00 am: Tata Steel MD T.V. Narendran, Tata Consultancy Services HR Head
D.P. Nambiar, Hindustan Unilever Executive Director HR B.P. Biddappa and other
HR executives at CII’s HR Excellence Award Confluence in New Delhi.
    10:00 am: Magnetic Maharashtra Summit in Mumbai. 
    11:00 am: Central Vigilance Commission summons PNB Managing Director Sunil
Mehta over fraud case in New Delhi.
    
    LIVECHAT - 
    Forex Buzz analyst Jeremy Boulton analyses G7 currencies at 1630 IST. To
join the conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • Three held as $1.8 billion fraud ripples through Indian banks 
    India's federal police detained two employees of Punjab National Bank, the
state-run lender that says it has been the victim of a $1.77 billion fraud, in
the first arrests in a fast-widening probe into the country's biggest-ever bank
scam.
    • EXCLUSIVE-Walmart in talks to buy more than 40 pct of India's Flipkart
-sources
    Walmart Inc is in talks to buy a stake of more than 40 percent in Indian
e-commerce firm Flipkart, a direct challenge to Amazon.com Inc in Asia's
third-largest economy, two sources familiar with the matter said on Friday.

    • Reliance, global tech firms to invest $9.3 billion in industrial area 
    Reliance Industries Ltd and global technology companies will invest 600
billion rupees over 10 years to set up an integrated industrial area in the
western state of Maharashtra, the company's chairman Mukesh Ambani said.

    • City Union Bank CEO says suffered cyber hack via SWIFT system
    City Union Bank said on Sunday that "cyber criminals" had hacked its systems
and transferred nearly $2 million through three unauthorised remittances to
lenders overseas via the SWIFT financial platform.
    • Lender UCO has $412 million exposure in Indian banking fraud case 
    State-run UCO Bank said it has $411.82 million in exposure to fraudulent
transactions carried out at Punjab National Bank.
    
    
    GLOBAL TOP NEWS
    • Trump says FBI missed signs on Florida shooting due to Russia probe, draws
criticism
    U.S. President Donald Trump attacked the FBI and lawmakers probing suspected
Russian meddling in the 2016 U.S presidential election, drawing sharp criticism
for saying an excessive focus on Russia led investigators to miss signs that
could have prevented a deadly school shooting in Florida.
    • Japan January export growth points to continued economic recovery
    Japan's exports grew in January for a 14th straight month led by brisk
shipments of China-bound hybrid cars and electronics parts, a sign solid global
demand for Japanese goods continued to underpin growth in the world's third
largest economy.
    • All 65 passengers, crew feared dead in Iranian plane crash
    All 65 passengers and crew were feared dead in a plane crash in central Iran
on Sunday after the domestic flight came down in bad weather in a mountainous
region.   
      
    
    GLOBAL MARKETS
    • The S&P 500 rose marginally on Friday to mark its biggest weekly increase
in five years, although earlier gains evaporated after the indictment of
Russians for meddling in the 2016 presidential election sent investors into
defensive mode before a long weekend.
    • Asian shares ticked up, joining a global recovery for equity markets as
sentiment improved gradually from a recent shakeout that stemmed from fears of
creeping inflation and higher borrowing costs.
    • The dollar found some traction following last week's steep fall and
managed to hold above a three-year low against a basket of currencies.
    • U.S. Treasury prices edged higher on Friday, as investors bought back
bonds after a selloff earlier in the week spurred by robust U.S. inflation data
that fed the view that the Federal Reserve may hike interest rates more
aggressively than expected.
    • Oil prices extended gains to hit their highest level in nearly two weeks,
buoyed as Asian shares joined a global recovery in equity markets and by worries
over tensions in the Middle East.
    • Gold prices edged up on a softer U.S. dollar and as investors bought the
yellow metal as a hedge against inflation.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         63.89/63.92  February 16      -$165.78 mln  -$46.41 mln
 10-yr bond yield  7.6 pct      Month-to-date    -$1.02 bln    $340.70 mln
                                Year-to-date     $1.02 bln     $1.81 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 = 64.2400 Indian rupees)

 (Compiled by Erum Khaled in Bengaluru)
  
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