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Morning News Call - India, November 15
November 15, 2017 / 3:32 AM / 6 days ago

Morning News Call - India, November 15

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    FACTORS TO WATCH
    09:30 am: IT Minister Ravi Shankar at Asia Pacific Computer Emergency
Response Team in New Delhi.
    09:30 am: World Bank Senior Director Jose Luis Irigoyen, Ministry of Road
Transport and Highways Director General (Road Development) Manoj Kumar, NHAI
Member R.K. Pandey at Transforming Transportation and Mobility Conference in New
Delhi.
    09:30 am: Chief of Army Staff Bipin Rawat to speak at Future Armoured
Vehicles India 2017 in New Delhi.
    10:00 am: Steel Minister Birender Singh to inaugurate the Ministry of Steel
pavilion at India International Trade Fair 2017 in New Delhi.
    10:00 am: NITI Aayog CEO Amitabh Kant, Senior Economic Adviser at Ministry
of Electronics and Information Technology Seema Gaur, Tata Sons Group Technology
Officer Purnendu Sinha, Maruti Suzuki Production Engineering Vice President
Chegu Dhanumjaya at Manufacturing Summit 2017 in New Delhi.
    11:00 am: External Affairs Ministry Joint Secretary (Eurasia) G.V. Srinivas
at India-CIS Business Conclave in New Delhi.
    11:30 am: Apparel Export Promotion Council Chairman Ashok Rajani to address
press conference on adverse impact of GST in New Delhi.
    03:00 pm: Godrej Industries post-earnings analyst conference call in Mumbai.
    03:00 pm: NBCC post-earnings conference call in New Delhi.
    04:00 pm: GMR Infrastructure post-earnings analyst conference call in
Mumbai.
    04:30 pm: New India Assurance post-earnings press meet in Mumbai.
    04:00 pm: Tata Global Beverages analyst meet in Mumbai.
    
    LIVECHAT- MACRO OUTLOOK
    A look at the latest developments in macro markets with Kit Juckes, global
macro strategist at Societe Generale at 3:30 PM IST.  To join the conversation,
click on the link: here
    

    INDIA TOP NEWS
    • India's trade deficit widens to near 3-year high in October
    India's trade deficit widened to its highest in nearly three years in
October, government data showed on Tuesday, as export growth contracted for the
first time after more than a year.
    • Vodafone India's H1 operating profit falls 39 pct
    Vodafone Group PLC's India unit reported a 39 percent fall in operating
profit for the first half of this fiscal year, hurt by a bruising price war
started by an upstart rival and a new nationwide sales tax.
    • India's WPI inflation touches 6-month high in October
    India's annual wholesale price inflation picked up in October to a six-month
high, driven by faster rises in prices of food and fuel products, government
data showed on Tuesday.
    • Bank of Baroda Q2 profit falls, misses estimates
    State-run Bank of Baroda Ltd reported a 36 percent fall in second-quarter
net profit on Tuesday, hurt by higher provisions for bad loans.
    • Sun Pharma posts profit dive on U.S. pricing pressure 
    India's largest drugmaker Sun Pharmaceutical Industries reported a 59
percent plunge in second-quarter profit on Tuesday, hurt by generics pricing
pressure in the United States.
    • Bharti Airtel sells $508 mln stake in tower arm Bharti Infratel
    Top Indian mobile carrier Bharti Airtel Ltd said on Tuesday it sold part of
its holdings in mobile masts arm Bharti Infratel Ltd for 33.25 billion rupees in
a bid to reduce debt.
    • Shoe retailer Khadim India's shares fall on trading debut after $83 mln
IPO
    Khadim India Ltd's shares fell on their trading debut on Tuesday after the
footwear retailer's initial public offering last week raised 5.43 billion
rupees.
    • Bharti Airtel and Tigo merge in Ghana to form AirtelTigo
    Bharti Airtel has merged with Millicom's Tigo in Ghana to become the
country's second largest mobile operator, the new company AirtelTigo said on
Tuesday.
    
    
    GLOBAL TOP NEWS
    • Japan's GDP grows for 7 straight quarters, outlook remains solid
    Japan's economy grew faster than expected in the third quarter due to strong
exports, posting the longest period of uninterrupted growth in more than a
decade.
    • Soldiers seize Zimbabwe state broadcaster, anti-Mugabe coup talk
intensifies
    Soldiers deployed across the Zimbabwe capital Harare and seized the state
broadcaster on Wednesday after 93-year-old President Robert Mugabe's ruling
ZANU-PF party accused the head of the military of treason, prompting frenzied
speculation of a coup.
    • Sessions changes statement about Trump campaign and Russia
    U.S. Attorney General Jeff Sessions acknowledged on Tuesday he was aware of
contact between Donald Trump's election campaign and Russian intermediaries,
again modifying a previous statement about the extent of connections to Moscow.


    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 10,187.50, trading down 0.4 percent
from its previous close.
    • Indian government bonds are likely to open steady tracking a drop in
global crude oil prices, even as sentiments remain bearish after retail
inflation in October accelerated at a faster-than-expected pace. The yield on
the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 7.02
percent -7.07 percent band.
    • The Indian rupee will likely open little changed against the dollar, as
data showing domestic trade gap widened to nearly three-year high, while exports
snapped two months of growth, may offset impact of broad greenback weakness
following gains in the euro.

        
    GLOBAL MARKETS
    • U.S. stock indexes fell on Tuesday as General Electric shares plunged for
a second straight day and a drop in crude oil prices hit energy stocks.
    • Asian stocks slipped after weaker crude oil prices took a toll on Wall
Street, while the euro kept big gains after enjoying a boost from robust German
economic growth.
    • The euro remained close to 2-1/2 week highs, getting a boost from upbeat
German economic data as investors awaited U.S. consumer inflation data later in
the global session.
    • U.S. Treasury two-year note yields touched a nine-year high on Tuesday,
while those on long-dated debt fell as the yield curve flattened for a second
straight day and investors braced for the next tightening by the Federal Reserve
in December.
    • Oil prices tumbled, continuing Tuesday's slide after the International
Energy Agency cast doubts over the past months' narrative of tightening fuel
markets.
    • Gold prices held steady, after hitting a more than one-week low in the
previous session, as the dollar firmed and investors waited for cues from U.S.
consumer inflation data.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         65.45/65.48  November 14      $394.04 mln  $148.27 mln
 10-yr bond yield  7.15pct      Month-to-date    $1.48 bln    -$368.47 mln
                                Year-to-date     $7.13 bln    $25.58 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 = 65.4000 Indian rupees)

 (Compiled by Nachiket Tekawade in Bengaluru)
  

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