March 9, 2018 / 3:27 AM / 13 days ago

Morning News Call - India, March 9

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    11:30 am: NITI Aayog CEO Amitabh Kant, Kotak Mahindra Bank MD Uday Kotak at
India Today Conclave in Mumbai.
    4:00 pm: Finance Minister Arun Jaitley at ELECRAMA 2018 event in New Delhi.
    5:00 pm: RBI to release weekly foreign exchange data in Mumbai.
    7:00 pm: RBI Deputy Governor Viral Acharya at ‘India 2025: Enhancing
Competitiveness of India’ event in Mumbai.
    The first of our Friday quizzes focuses on Asia and the week's top news.
Tests your wits and googling speed  at 1200 IST. To join the conversation, click
on the link: here
    • Police expand probe against jeweller Modi in PNB fraud case
    Punjab National Bank has filed a new complaint against Nirav Modi, the
diamond tycoon it has accused of being part of a near $2 billion fraud, alleging
that companies he controlled had misused even legitimate loans and guarantees.

    • India to invite initial bids for Air India stake sale in next couple of
    India will invite initial bids for a stake sale in state-run carrier Air
India in the next couple of weeks, Civil Aviation Secretary Rajiv Choubey said
on Thursday during an airshow in Hyderabad.
    • Indian govt seeks parliament nod for $13 billion net extra spending
    The Indian government on Thursday sought parliament's approval to spend a
net additional $13.14 billion in new spending in the current fiscal year to
end-March 2018, a finance ministry statement said.
    • Bandhan Bank, Hindustan Aeronautics to launch IPOs next week
    Bandhan Bank will look to raise up to $687 million when it launches an
initial public offering next week, in what is likely to be the biggest market
debut ever by an Indian bank.
    • Court dismisses RCom's appeal against arbitration order
    A court has dismissed Reliance Communications' plea against an arbitration
court order that barred the telecom operator from selling or transferring its
assets without the tribunal's permission.
    • Indian airlines to add new jets in booming aviation market
    Indian airlines Jet Airways, SpiceJet and AirAsia India are planning to add
new jets to their fleets as they look to expand in the world's fastest-growing
aviation market, the carriers said on Thursday.
    • Cotton seed companies threaten supply halt over price cut
    Seed companies threatened on Thursday to halt supplies to 8 million cotton
farmers in protest against a potential government plan to cut prices by 7.5
percent, the chief of a producers' body said.
    • Adani rethinks Abbot Point options after debt refinancing stalls
    Adani Enterprises is looking at new options to refinance debt for its coal
terminal in Australia after struggling to attract lenders wary of its
controversial Carmichael mine project, Thomson Reuters Loan Pricing Corp
reported on Thursday.
    • Trump says prepared to meet North Korea's Kim in first-ever summit
    U.S President Donald Trump said on Thursday he was prepared to meet North
Korean leader Kim Jong Un for the first U.S.-North Korea summit, marking a
potentially dramatic breakthrough in nuclear tensions with
    • Trump sets steel and aluminum tariffs but exempts Canada, Mexico
    U.S. President Donald Trump pressed ahead on Thursday with import tariffs of
25 percent on steel and 10 percent for aluminum but exempted Canada and Mexico
and offered the possibility of excluding other allies, backtracking from an
earlier "no-exceptions" stance.
    • China's Feb factory inflation slows, consumer price growth hits more than
4-year high
    China's producer price inflation eased to the slowest pace in 15 months in
February, as the cost of raw materials and other inputs rose at a milder pace,
pointing to a potential softening in industrial sector profits.
    (As reported by NewsRise)
    • The SGX Nifty Futures were higher at 10,280.00, up 0.4 percent from
previous close.
    • The Indian rupee is likely to trade little changed amid bets that gains in
equities would help offset strength in the dollar after U.S President Donald
Trump signed U.S. tariffs.
    • Indian government bonds are likely to gain in early trade as some
investors expect inflation to have slowed in February and as crude oil prices
fell. The yield on the 7.17 percent bond maturing in 2028 is likely to trade in
7.62 percent - 7.68 percent band today.
    • The three major U.S. stock indexes closed higher on Thursday after U.S.
President Donald Trump appeared to soften his stance on trade tariffs, easing
trade war fears that had had the market on edge for a week.
    • Asian shares rallied and the safe-haven yen eased after North Korean
leader Kim Jong Un offered to stop nuclear and missile testing and U.S.
President Donald Trump agreed to a meeting that could come before May.

    • The dollar rose versus the safe haven yen as hopes of a breakthrough in
the North Korean nuclear standoff rose after U.S. President Donald Trump showed
willingness to accept an invitation to meet North Korean leader Kim Jong Un by
    • The yield on the U.S. benchmark government bond moved within a range of
three basis points on Thursday, continuing a trend of muted fluctuation in the
week ahead of Friday's payrolls data.
    • Crude oil futures rose as Asian stock markets gained on news that North
Korean leader Kim Jong Un will meet with U.S. President Donald Trump.
    • Gold prices extended losses into a third session as the dollar
strengthened against the yen on hopes of easing tensions between the United
States and North Korea and ahead of U.S. non-farm payroll data later in the day.

                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         65.06/65.09  March 8          -$56.07 mln  -$301.81 mln
 10-yr bond yield  7.67 pct     Month-to-date    $34.23 mln   -$487.14 mln
                                Year-to-date     $142.09 mln  $603.76 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 = 65.1000 Indian rupees)

 (Compiled by Swathi Nair in Bengaluru)
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